NMI (NASDAQ:NMIH) Downgraded to Neutral at UBS Group

UBS Group cut its stake in NMI (NASDAQ:NMIH – Free Report) from a “buy” recommendation to a “neutral” rating – according to a research report published on Wednesday, Marketbeat reports. UBS Group now has a $39.00 price target for shares of the financial services provider, up from the previous price target of $37.00.

Many other research firms have also recently published reports on NMIH. Royal Bank of Canada increased their target price on shares of NMI from $31.00 to $33.00 and gave the company an Sector Perform rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. raised their price target on NMI from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Compass Point raised their price target on NMI from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. On Friday, May 3, StockNews.com upgraded NMI from hold to buy. Finally, Keefe, Bruyette & Woods increased their price target on NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, April 4. Three analysts rated the company’s shares with a hold rating and seven with a buy rating. Based on data from MarketBeat, NMI currently has an average rating of Moderate Buy and an average price target of $35.56.

Check out our latest stock report on NMI

NMI price performance

Shares of NASDAQ:NMIH opened at $33.09 on Wednesday. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 1.16 and a beta of 1.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.89 and a quick ratio of 0.89. NMI has a 1-year low of $24.29 and a 1-year high of $34.33. The company’s fifty-day moving average price is $31.51 and its 200-day moving average price is $30.08.

NMI (NASDAQ:NMIH – Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, which was $0.12 ahead of analysts’ consensus estimates of $0.96. The company had revenue of $156.25 million for the quarter, compared to analyst expectations of $133.76 million. NMI had a return on equity of 18.09% and a net margin of 56.26%. The company’s revenues for this quarter increased by 14.2% compared to the same quarter last year. During the same period last year, the company earned $0.88 per share. Stock research analysts predict that NMI will record earnings per share of 4.19 for the current fiscal year.

NMI Confidential Transactions

In related news, VP Robert Owen Smith sold 3,000 shares of NMI stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $31.19, for a total transaction amount of $93,570.00. Following the completion of the transaction, the executive vice president now directly owns 82,612 shares of the company’s stock, valued at approximately $2,576,668.28. The sale was disclosed in a filing with the Securities and Exchange Commission, available at this hyperlink. In other NMI news, VP Robert Owen Smith sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $31.19, for a total transaction amount of $93,570.00. Following the completion of the transaction, the executive vice president now owns 82,612 shares of the company’s stock valued at $2,576,668.28. The sale was disclosed in a letter filed with the Securities and Exchange Commission, which is available on the SEC’s website. Additionally, Director James G. Jones sold 54,900 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $30.16, for a total value of $1,655,784.00. Following the completion of the sale, the director now directly owns 57,641 shares of the company’s stock valued at $1,738,452.56. The announcement of this sale can be found here. Over the last three months, insiders sold 125,763 shares of company stock worth $3,808,175. Currently, company insiders own 2.40% of the shares.

Hedge funds play on NMI

Several institutional investors and hedge funds have recently modified their holdings in the stock. Daiwa Securities Group Inc. purchased a new position in NMI during the fourth quarter worth approximately $27,000. Fidelis Capital Partners LLC acquired a new stake in shares of NMI during the first quarter worth approximately $31,000. TFO Wealth Partners LLC increased its exposure to shares of NMI by 24,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 1,225 shares in the last quarter. Robeco Institutional Asset Management BV acquired a new stake in shares of NMI during the fourth quarter valued at approximately $145,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of NMI by 6.1% during the fourth quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 350 shares in the last quarter. Currently, 94.12% of the shares are in the hands of institutional investors.

NMI company profile

(Get the free report)

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 outsourcing loan review services to mortgage lenders. It serves national and regional mortgage banks, money center banks, credit unions, community banks, developer-owned mortgage lenders, online lenders and other non-bank lenders.

NMI price performance

NMI Confidential Transactions

Hedge funds play on NMI

NMI company profile

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