NMI Holdings, Inc. (NASDAQ:NMIH) Receives Average Recommendation of “Moderate Buy” from Brokerages

NMI Holdings, Inc. (NASDAQ:NMIH) has received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $34.44.

NMIH has been the topic of several research analyst reports. Truist Financial boosted their target price on NMI from $34.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. StockNews.com downgraded NMI from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. boosted their price target on NMI from $34.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, April 3rd. Keefe, Bruyette & Woods boosted their price target on NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada boosted their price target on NMI from $31.00 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th.

NMI Stock Down 0.3 %

Shares of NMIH stock opened at $29.87 on Friday. NMI has a 1-year low of $22.22 and a 1-year high of $32.50. The stock’s fifty day moving average price is $30.29 and its 200 day moving average price is $29.15. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 7.78, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06.

NMI (NASDAQ:NMIH) last announced its earnings results on Wednesday, February 14th. The financial services provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.06. NMI had a return on equity of 17.97% and a net margin of 55.63%. The firm had revenue of $151.38 million for the quarter, compared to the consensus estimate of $131.70 million. During the same period in the previous year, the business earned $0.86 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, research analysts expect that NMI will post 4.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Robert Owen Smith sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $31.19, for a total transaction of $93,570.00. Following the sale, the executive vice president now directly owns 82,612 shares of the company’s stock, valued at $2,576,668.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other NMI news, Chairman Bradley M. Shuster sold 6,559 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $29.81, for a total transaction of $195,523.79. Following the transaction, the chairman now owns 453,298 shares in the company, valued at $13,512,813.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert Owen Smith sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $31.19, for a total value of $93,570.00. Following the transaction, the executive vice president now owns 82,612 shares in the company, valued at approximately $2,576,668.28. The disclosure for this sale can be found here. Insiders have sold a total of 145,158 shares of company stock valued at $4,395,582 over the last ninety days. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On NMI

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in NMI by 1.3% during the first quarter. BlackRock Inc. now owns 13,781,315 shares of the financial services provider’s stock worth $284,172,000 after purchasing an additional 182,001 shares in the last quarter. Vanguard Group Inc. boosted its position in NMI by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 6,809,208 shares of the financial services provider’s stock worth $202,097,000 after purchasing an additional 225,364 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in NMI by 10.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,441,230 shares of the financial services provider’s stock worth $99,171,000 after purchasing an additional 417,095 shares in the last quarter. State Street Corp boosted its position in NMI by 15.8% during the first quarter. State Street Corp now owns 4,053,585 shares of the financial services provider’s stock worth $83,585,000 after purchasing an additional 551,924 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its position in shares of NMI by 2.2% in the first quarter. Macquarie Group Ltd. now owns 3,833,170 shares of the financial services provider’s stock valued at $85,595,000 after acquiring an additional 83,594 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

About NMI

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; 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.