UBS Group Cuts NMI (NASDAQ:NMIH) Price Target to $41.00

NMI (NASDAQ:NMIH) had its target price lowered by investment analysts at UBS Group from $42.00 to $41.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price objective would indicate a potential upside of 16.28% from the stock’s current price.

A number of other brokerages also recently weighed in on NMIH. JPMorgan Chase & Co. lowered their target price on shares of NMI from $46.00 to $41.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Barclays downgraded shares of NMI from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $48.00 to $41.00 in a research note on Monday, January 6th. Keefe, Bruyette & Woods decreased their price target on shares of NMI from $44.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada decreased their price target on shares of NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.29.

NMI Price Performance

NMIH opened at $35.26 on Wednesday. The firm has a market cap of $2.79 billion, a P/E ratio of 7.96, a PEG ratio of 1.42 and a beta of 1.12. The firm has a 50-day moving average of $37.13 and a 200 day moving average of $38.64. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.60. NMI has a fifty-two week low of $28.73 and a fifty-two week high of $42.49.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.07). NMI had a return on equity of 17.33% and a net margin of 55.32%. On average, research analysts expect that NMI will post 4.62 EPS for the current year.

Hedge Funds Weigh In On NMI

Large investors have recently modified their holdings of the stock. Principal Securities Inc. raised its position in shares of NMI by 66.5% in the 4th quarter. Principal Securities Inc. now owns 716 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 286 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of NMI by 288.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,868 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 1,387 shares during the last quarter. Covestor Ltd raised its position in shares of NMI by 601.1% in the 4th quarter. Covestor Ltd now owns 1,893 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 1,623 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of NMI by 786.1% in the 4th quarter. Sterling Capital Management LLC now owns 2,295 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 2,036 shares during the last quarter. Finally, KBC Group NV raised its position in shares of NMI by 38.3% in the 4th quarter. KBC Group NV now owns 3,221 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 892 shares during 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.