NMI (NASDAQ:NMIH) Given New $42.00 Price Target at Keefe, Bruyette & Woods

NMI (NASDAQ:NMIH - Get Free Report) had its price target dropped by equities researchers at Keefe, Bruyette & Woods from $43.00 to $42.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 23.75% from the company's current price.

A number of other equities research analysts also recently issued reports on the company. Barclays downgraded NMI from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $48.00 to $41.00 in a research report on Monday, January 6th. UBS Group decreased their price target on NMI from $42.00 to $41.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. dropped their price target on NMI from $42.00 to $41.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $42.14.

NMI Stock Performance

NASDAQ:NMIH traded up $0.71 during mid-day trading on Tuesday, hitting $33.94. 469,054 shares of the stock were exchanged, compared to its average volume of 523,364. The firm's 50-day simple moving average is $35.48 and its 200 day simple moving average is $37.44. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 7.66, a price-to-earnings-growth ratio of 1.41 and a beta of 0.62. NMI has a fifty-two week low of $29.05 and a fifty-two week high of $42.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.60.

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NMI (NASDAQ:NMIH - Get Free Report) 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 return on equity of 17.33% and a net margin of 55.32%. As a group, equities analysts anticipate that NMI will post 4.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other NMI news, EVP Norman Peter Fitzgerald sold 20,000 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $35.88, for a total transaction of $717,600.00. Following the sale, the executive vice president now owns 37,470 shares of the company's stock, valued at approximately $1,344,423.60. The trade was a 34.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $35.44, for a total value of $38,381.52. Following the completion of the transaction, the executive vice president now owns 49,218 shares of the company's stock, valued at $1,744,285.92. The trade was a 2.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On NMI

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of NMI by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 7,158,877 shares of the financial services provider's stock worth $263,160,000 after purchasing an additional 39,503 shares during the last quarter. State Street Corp grew its holdings in NMI by 1.0% during the 3rd quarter. State Street Corp now owns 3,565,348 shares of the financial services provider's stock worth $146,857,000 after acquiring an additional 35,351 shares during the last quarter. American Century Companies Inc. grew its holdings in NMI by 8.0% during the 4th quarter. American Century Companies Inc. now owns 1,957,179 shares of the financial services provider's stock worth $71,946,000 after acquiring an additional 145,591 shares during the last quarter. Donald Smith & CO. Inc. increased its position in NMI by 34.8% in the 4th quarter. Donald Smith & CO. Inc. now owns 1,307,868 shares of the financial services provider's stock valued at $48,077,000 after acquiring an additional 337,996 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in shares of NMI by 0.4% during the fourth quarter. Nuveen Asset Management LLC now owns 1,290,675 shares of the financial services provider's stock valued at $47,445,000 after acquiring an additional 4,570 shares during the last quarter. Institutional investors and hedge funds 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.