NMI (NASDAQ:NMIH) Shares Down 4% Following Analyst Downgrade

Shares of NMI Holdings, Inc. (NASDAQ:NMIH) were down 4% on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $46.00 to $41.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. NMI traded as low as $37.64 and last traded at $37.72. Approximately 58,409 shares traded hands during trading, a decline of 89% from the average daily volume of 525,900 shares. The stock had previously closed at $39.29.

Several other equities analysts have also issued reports on NMIH. Barclays raised their price objective on NMI from $43.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. StockNews.com downgraded NMI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, Royal Bank of Canada cut their price target on NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, NMI presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.57.

Institutional Investors Weigh In On NMI

Several large investors have recently modified their holdings of NMIH. CWM LLC raised its holdings in NMI by 92.7% during the second quarter. CWM LLC now owns 2,974 shares of the financial services provider’s stock worth $101,000 after purchasing an additional 1,431 shares in the last quarter. Diversified Trust Co raised its stake in shares of NMI by 6.7% during the 2nd quarter. Diversified Trust Co now owns 27,762 shares of the financial services provider’s stock worth $945,000 after buying an additional 1,733 shares in the last quarter. Financial Strategies Group Inc. lifted its holdings in shares of NMI by 77.1% in the 2nd quarter. Financial Strategies Group Inc. now owns 11,516 shares of the financial services provider’s stock valued at $396,000 after buying an additional 5,013 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of NMI by 23.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,407,610 shares of the financial services provider’s stock valued at $47,915,000 after buying an additional 263,250 shares in the last quarter. Finally, Leeward Investments LLC MA grew its holdings in NMI by 5.6% during the second quarter. Leeward Investments LLC MA now owns 306,985 shares of the financial services provider’s stock worth $10,450,000 after acquiring an additional 16,295 shares during the period. Hedge funds and other institutional investors own 94.12% of the company’s stock.

NMI Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. The company has a 50-day simple moving average of $39.34 and a 200-day simple moving average of $37.78. The stock has a market cap of $2.97 billion, a PE ratio of 8.60, a PEG ratio of 0.96 and a beta of 1.10.

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.