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

NMI Holdings, Inc. (NASDAQ:NMIH) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $42.13.

Several equities analysts have weighed in on NMIH shares. StockNews.com downgraded NMI from a “buy” rating to a “hold” rating in a research report on Wednesday, August 21st. Truist Financial raised their target price on NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Barclays lifted their target price on NMI from $43.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods increased their price target on NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada raised shares of NMI from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $40.00 to $48.00 in a research note on Wednesday, September 18th.

NMI Stock Performance

NASDAQ:NMIH opened at $40.87 on Friday. NMI has a fifty-two week low of $26.41 and a fifty-two week high of $42.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.67 and a current ratio of 0.67. The company has a 50 day moving average price of $39.89 and a 200 day moving average price of $35.68. The stock has a market capitalization of $3.28 billion, a P/E ratio of 10.12, a PEG ratio of 0.93 and a beta of 1.12.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.05 by $0.15. The business had revenue of $162.12 million during the quarter, compared to analyst estimates of $138.49 million. NMI had a return on equity of 18.29% and a net margin of 56.40%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the business posted $0.95 earnings per share. Equities research analysts forecast that NMI will post 4.5 EPS for the current year.

Insiders Place Their Bets

In other news, insider William J. Leatherberry sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total value of $120,210.00. Following the completion of the transaction, the insider now owns 153,689 shares of the company’s stock, valued at $6,158,318.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider William J. Leatherberry sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total value of $120,210.00. Following the completion of the transaction, the insider now directly owns 153,689 shares in the company, valued at approximately $6,158,318.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael J. Embler sold 26,008 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total value of $1,023,414.80. Following the transaction, the director now owns 61,607 shares in the company, valued at $2,424,235.45. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NMI

Hedge funds have recently modified their holdings of the stock. UniSuper Management Pty Ltd purchased a new position in NMI during the first quarter worth approximately $507,000. First Eagle Investment Management LLC boosted its holdings in NMI by 17.6% in the first quarter. First Eagle Investment Management LLC now owns 403,019 shares of the financial services provider’s stock valued at $13,034,000 after acquiring an additional 60,200 shares during the last quarter. Leuthold Group LLC purchased a new stake in NMI during the first quarter valued at about $2,987,000. Susquehanna Fundamental Investments LLC acquired a new stake in NMI during the first quarter worth about $532,000. Finally, Leeward Investments LLC MA raised its holdings in shares of NMI by 5.6% in the 2nd quarter. Leeward Investments LLC MA now owns 306,985 shares of the financial services provider’s stock worth $10,450,000 after purchasing an additional 16,295 shares during the period. 94.12% of the stock is owned by institutional investors and hedge funds.

NMI Company Profile

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.