Keefe, Bruyette & Woods Upgrades NMI (NASDAQ:NMIH) to “Outperform”

NMI (NASDAQ:NMIH) was upgraded by analysts at Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued on Monday,Briefing.com Automated Import reports. The brokerage presently has a $43.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 23.28% from the stock’s previous close.

A number of other brokerages have also recently commented on NMIH. Barclays cut shares of NMI from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $48.00 to $41.00 in a research note on Monday, January 6th. UBS Group dropped their price target on shares of NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price target 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. Finally, Royal Bank of Canada dropped 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. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, NMI currently has an average rating of “Moderate Buy” and an average price target of $42.29.

NMI Stock Down 0.9 %

NMIH opened at $34.88 on Monday. The company has a quick ratio of 0.83, a current ratio of 0.60 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 7.87, a PEG ratio of 1.41 and a beta of 1.12. NMI has a twelve month low of $28.82 and a twelve month high of $42.49. The company’s 50-day moving average price is $36.89 and its two-hundred day moving average price is $38.60.

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

Hedge Funds Weigh In On NMI

Several institutional investors and hedge funds have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of NMI by 23.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 163,780 shares of the financial services provider’s stock valued at $6,021,000 after purchasing an additional 30,607 shares during the last quarter. Virtus Fund Advisers LLC grew its holdings in shares of NMI by 43.7% during the 4th quarter. Virtus Fund Advisers LLC now owns 3,714 shares of the financial services provider’s stock valued at $137,000 after purchasing an additional 1,129 shares during the last quarter. Virtus Investment Advisers Inc. grew its holdings in shares of NMI by 13.8% during the 4th quarter. Virtus Investment Advisers Inc. now owns 42,806 shares of the financial services provider’s stock valued at $1,574,000 after purchasing an additional 5,200 shares during the last quarter. State of Wyoming grew its holdings in shares of NMI by 14.9% during the 4th quarter. State of Wyoming now owns 14,096 shares of the financial services provider’s stock valued at $518,000 after purchasing an additional 1,831 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC bought a new position in shares of NMI during the 4th quarter valued at $202,000. 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.