Deutsche Bank AG Lowers NMI Holdings Inc (NMIH) to Hold
NMI Holdings Inc (NASDAQ:NMIH) was downgraded by research analysts at Deutsche Bank AG from a “buy” rating to a “hold” rating in a report released on Friday. They presently have a $16.00 price target on the financial services provider’s stock. Deutsche Bank AG’s price objective points to a potential upside of 0.63% from the company’s previous close.
Other equities analysts have also recently issued reports about the company. Singular Research started coverage on NMI Holdings in a report on Monday, October 16th. They set a “buy” rating and a $16.00 price target for the company. ValuEngine upgraded NMI Holdings from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $13.00 price target on shares of NMI Holdings in a report on Thursday, August 31st. Zacks Investment Research upgraded NMI Holdings from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, BidaskClub upgraded NMI Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $15.93.
NMI Holdings (NMIH) traded down $0.60 during midday trading on Friday, hitting $15.90. The stock had a trading volume of 1,444,931 shares, compared to its average volume of 1,833,109. The firm has a market capitalization of $954.52, a PE ratio of 27.89 and a beta of 0.75. The company has a current ratio of 0.24, a quick ratio of 0.23 and a debt-to-equity ratio of 0.28.
NMI Holdings (NASDAQ:NMIH) last released its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $48.95 million during the quarter, compared to analysts’ expectations of $45.79 million. NMI Holdings had a return on equity of 6.95% and a net margin of 51.80%. The company’s revenue was up 37.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.10 EPS. equities analysts forecast that NMI Holdings will post 0.54 earnings per share for the current fiscal year.
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In other news, EVP William J. Leatherberry bought 5,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average cost of $10.65 per share, for a total transaction of $53,250.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 5.40% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in NMIH. Capital Research Global Investors boosted its stake in shares of NMI Holdings by 72.5% in the 2nd quarter. Capital Research Global Investors now owns 3,481,202 shares of the financial services provider’s stock valued at $39,860,000 after buying an additional 1,462,624 shares during the period. Wells Fargo & Company MN boosted its stake in shares of NMI Holdings by 849.8% in the 2nd quarter. Wells Fargo & Company MN now owns 618,321 shares of the financial services provider’s stock valued at $7,081,000 after buying an additional 553,221 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of NMI Holdings by 22.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,445,052 shares of the financial services provider’s stock valued at $27,996,000 after buying an additional 446,918 shares during the period. Alliancebernstein L.P. boosted its stake in shares of NMI Holdings by 531.7% in the 2nd quarter. Alliancebernstein L.P. now owns 289,320 shares of the financial services provider’s stock valued at $3,313,000 after buying an additional 243,520 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of NMI Holdings by 10.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,569,591 shares of the financial services provider’s stock valued at $29,421,000 after buying an additional 239,387 shares during the period. Institutional investors and hedge funds own 85.50% of the company’s stock.
About NMI Holdings
NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).
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