NMI Holdings Inc (NASDAQ:NMIH) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of NMI Holdings Inc (NASDAQ:NMIH) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $48.43.

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $47.00 price objective on shares of NMI in a research note on Monday, August 3rd. BTIG Research began coverage on shares of NMI in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $54.00 target price for the company. JPMorgan Chase & Co. reduced their target price on shares of NMI from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, October 12th. Truist Financial lifted their target price on shares of NMI from $49.00 to $51.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $53.00 price target on shares of NMI in a research note on Tuesday, August 4th.

NMI Trading Up 1.5%

Shares of NMIH stock opened at $41.64 on Wednesday. The company has a market capitalization of $3.13 billion, a P/E ratio of 8.20, a price-to-earnings-growth ratio of 1.10 and a beta of 0.56. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $42.76 and its two-hundred day moving average is $40.77. NMI has a twelve month low of $34.84 and a twelve month high of $46.74.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.28 by $0.10. NMI had a return on equity of 15.13% and a net margin of 54.10%. The business had revenue of $187.89 million during the quarter, compared to analysts’ expectations of $156.26 million. During the same quarter in the prior year, the business earned $1.22 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities analysts forecast that NMI will post 5.26 EPS for the current year.

Insider Activity at NMI

In other NMI news, CEO Adam Pollitzer sold 172,706 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $44.85, for a total transaction of $7,745,864.10. Following the transaction, the chief executive officer owned 270,267 shares in the company, valued at approximately $12,121,474.95. The trade was a 38.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Aurora Swithenbank sold 11,662 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $44.51, for a total value of $519,075.62. Following the transaction, the executive vice president owned 50,734 shares in the company, valued at $2,258,170.34. The trade was a 18.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 196,368 shares of company stock worth $8,800,740 over the last 90 days. Company insiders own 2.44% of the company’s stock.

Institutional Trading of NMI

Several hedge funds have recently modified their holdings of NMIH. Nisa Investment Advisors LLC lifted its holdings in NMI by 44.9% in the third quarter. Nisa Investment Advisors LLC now owns 5,894 shares of the financial services provider’s stock valued at $220,000 after acquiring an additional 1,825 shares during the period. CWA Asset Management Group LLC boosted its position in shares of NMI by 9.0% during the 3rd quarter. CWA Asset Management Group LLC now owns 70,590 shares of the financial services provider’s stock worth $2,634,000 after purchasing an additional 5,851 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of NMI during the 3rd quarter worth $232,000. Ellsworth Advisors LLC acquired a new position in shares of NMI during the 3rd quarter worth $863,000. Finally, Davidson Capital Management Inc. grew its stake in shares of NMI by 2.2% during the 3rd quarter. Davidson Capital Management Inc. now owns 34,516 shares of the financial services provider’s stock worth $1,288,000 after purchasing an additional 748 shares during the period. 94.12% of the stock is owned by institutional investors and hedge funds.

About NMI

NMI Holdings, Inc (NASDAQ: NMIH) is the parent company of National MI, a U.S.-based provider of private mortgage insurance. Through its insurance subsidiaries, the company helps lenders manage the risk associated with residential mortgage loans, particularly loans made to borrowers with down payments below traditional thresholds.

National MI primarily offers private mortgage insurance for residential purchase and refinance transactions. Its products are designed for mortgage lenders, banks, credit unions and other housing-finance institutions, helping them expand access to homeownership while transferring a portion of potential credit risk.