NMI (NASDAQ:NMIH) Upgraded to Outperform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of NMI (NASDAQ:NMIH) from a market perform rating to an outperform rating in a research report released on Monday morning, MarketBeat.com reports. The firm currently has $43.00 target price on the financial services provider’s stock.

NMIH has been the subject of a number of other reports. Barclays downgraded NMI from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $48.00 to $41.00 in a research report on Monday, January 6th. UBS Group dropped their price objective on shares of NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada dropped their target price on NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. reduced their target price on NMI from $46.00 to $41.00 and set an “overweight” rating for the company in a report on Monday, December 9th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $42.29.

NMI Price Performance

Shares of NMIH opened at $35.69 on Monday. NMI has a 12-month low of $29.05 and a 12-month high of $42.49. The stock has a market cap of $2.80 billion, a P/E ratio of 8.06, a P/E/G ratio of 1.41 and a beta of 1.12. The business’s fifty day moving average is $36.85 and its 200 day moving average is $38.59. The company has a quick ratio of 0.83, a current ratio of 0.60 and a debt-to-equity ratio of 0.19.

NMI (NASDAQ:NMIH) last posted 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%. Sell-side analysts anticipate that NMI will post 4.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. boosted its stake 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 valued at $26,000 after purchasing an additional 286 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in NMI by 288.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,868 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 1,387 shares during the period. Covestor Ltd increased its stake in shares of NMI by 601.1% during the fourth quarter. Covestor Ltd now owns 1,893 shares of the financial services provider’s stock valued at $70,000 after buying an additional 1,623 shares during the period. Sterling Capital Management LLC increased its position in NMI by 786.1% during the 4th quarter. Sterling Capital Management LLC now owns 2,295 shares of the financial services provider’s stock valued at $84,000 after purchasing an additional 2,036 shares during the period. Finally, KBC Group NV lifted 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 period. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

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.