NMI (NASDAQ:NMIH) Stock Rating Cut to Neutral at Bank of America

Bank of America lowered shares of NMI (NASDAQ:NMIH) from a buy rating to a neutral rating in a report published on Friday, Marketbeat reports. Bank of America currently has $44.00 price objective on the financial services provider’s stock, down from their previous price objective of $51.00.

Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. decreased their price objective 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. Weiss Ratings upgraded NMI from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, October 19th. Royal Bank Of Canada restated an “outperform” rating and issued a $53.00 price objective on shares of NMI in a research note on Tuesday, August 4th. BTIG Research initiated coverage on shares of NMI in a report on Tuesday, September 22nd. They issued a “buy” rating and a $54.00 price target on the stock. Finally, Keefe, Bruyette & Woods cut shares of NMI from an “outperform” rating to a “market perform” rating and set a $47.00 target price on the stock. in a research note on Monday, August 3rd. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.88.

NMI Stock Down 1.2%

NMIH stock opened at $42.67 on Friday. The firm has a market capitalization of $3.21 billion, a PE ratio of 8.52, a P/E/G ratio of 1.41 and a beta of 0.56. The stock’s 50 day moving average is $42.26 and its 200-day moving average is $40.23. NMI has a twelve month low of $34.84 and a twelve month high of $46.74. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.15.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.38 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $156.26 million. During the same period last year, the business earned $1.22 EPS. The business’s revenue was up 8.1% on a year-over-year basis. Sell-side analysts expect that NMI will post 5.26 EPS for the current fiscal year.

Insider Buying and Selling at NMI

In other NMI news, CEO Adam Pollitzer sold 172,706 shares of the stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $44.85, for a total transaction of $7,745,864.10. Following the completion of the transaction, the chief executive officer owned 270,267 shares in the company, valued at $12,121,474.95. This trade represents a 38.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Aurora Swithenbank sold 11,662 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $44.51, for a total transaction of $519,075.62. Following the completion of the sale, the executive vice president directly owned 50,734 shares in the company, valued at approximately $2,258,170.34. This trade represents a 18.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 196,368 shares of company stock valued at $8,800,740 over the last three months. 2.44% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Nykredit A S purchased a new position in NMI during the second quarter valued at approximately $31,000. Public Employees Retirement System of Ohio bought a new position in shares of NMI in the second quarter worth $36,000. Pacer Advisors Inc. increased its holdings in shares of NMI by 58.7% in the first quarter. Pacer Advisors Inc. now owns 1,006 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 372 shares during the period. Bessemer Group Inc. increased its stake in NMI by 34.0% in the 1st quarter. Bessemer Group Inc. now owns 1,071 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 272 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in NMI by 35.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 301 shares during the last quarter. Institutional investors own 94.12% of the company’s stock.

NMI Company Profile

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.