NMI (NASDAQ:NMIH) Price Target Lowered to $28.00 at Citigroup

NMI (NASDAQ:NMIH – Get Rating) had its target price lowered by Citigroup from $32.00 to $28.00 in a research report sent to investors on Tuesday, The Fly reports.

A number of other research analysts have also commented on the company. Barclays raised their price target on NMI from $35.00 to $41.00 and gave the company an overweight rating in a report on Monday, January 10th. BTIG Research lowered their price target on NMI from $30.00 to $27.00 in a report on Tuesday, April 12th. Keefe, Bruyette & Woods lowered NMI from an outperform rating to a market perform rating and raised their price target for the company from $26.50 to $27.50 in a report on Thursday, February 17th. Finally, StockNews.com began coverage on NMI in a report on Thursday, March 31st. They set a hold rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $29.79.

Shares of NASDAQ NMIH opened at $17.64 on Tuesday. NMI has a 1-year low of $16.69 and a 1-year high of $27.25. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.70 and a quick ratio of 0.70. The business’s fifty day moving average price is $19.71 and its two-hundred day moving average price is $21.74. The firm has a market capitalization of $1.52 billion, a PE ratio of 6.30 and a beta of 1.51.

NMI (NASDAQ:NMIH – Get Rating) last issued its earnings results on Wednesday, May 4th. The financial services provider reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The firm had revenue of $127.44 million for the quarter, compared to analyst estimates of $127.70 million. NMI had a return on equity of 16.52% and a net margin of 49.45%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period last year, the company earned $0.62 earnings per share. Equities research analysts expect that NMI will post 3.2 earnings per share for the current fiscal year.

In related news, COO Patrick L. Mathis sold 68,493 shares of the stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $26.08, for a total value of $1,786,297.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.50% of the company’s stock.

Several large investors have recently added to or reduced their stakes in NMIH. Moors & Cabot Inc. acquired a new position in shares of NMI in the 3rd quarter valued at $26,000. Counterpoint Mutual Funds LLC acquired a new stake in NMI during the 1st quarter worth about $64,000. Federated Hermes Inc. boosted its position in NMI by 36.9% during the 1st quarter. Federated Hermes Inc. now owns 3,112 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 838 shares during the period. PNC Financial Services Group Inc. boosted its position in NMI by 15.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,738 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 774 shares during the period. Finally, Centaurus Financial Inc. boosted its position in NMI by 9.1% during the 1st quarter. Centaurus Financial Inc. now owns 9,911 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 825 shares during the period. Institutional investors and hedge funds own 95.68% of the company’s stock.

NMI Company Profile (Get Rating)

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, internet-sourced lenders, and other non-bank lenders.

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