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

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

A number of other brokerages also recently weighed in on NMIH. Royal Bank of Canada lowered their target price on shares of NMI from $48.00 to $47.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Barclays downgraded shares of NMI from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $48.00 to $41.00 in a research note on Monday, January 6th. UBS Group reduced their price target on shares of NMI from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Wednesday, February 19th. Finally, JPMorgan Chase & Co. reduced their price target on shares of 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 given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.29.

NMI Price Performance

NMIH stock opened at $34.88 on Monday. The company has a fifty day moving average price of $36.89 and a 200-day moving average price of $38.60. The company has a market capitalization of $2.74 billion, a P/E ratio of 7.87, a PEG ratio of 1.41 and a beta of 1.12. NMI has a 52-week low of $28.82 and a 52-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.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate 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 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Jane Street Group LLC grew its holdings in shares of NMI by 64.2% during the third quarter. Jane Street Group LLC now owns 139,173 shares of the financial services provider’s stock valued at $5,733,000 after buying an additional 54,391 shares during the last quarter. Algert Global LLC grew its position in NMI by 88.9% in the 3rd quarter. Algert Global LLC now owns 142,141 shares of the financial services provider’s stock worth $5,855,000 after purchasing an additional 66,880 shares in the last quarter. JPMorgan Chase & Co. grew its position in NMI by 3.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 775,804 shares of the financial services provider’s stock worth $31,955,000 after purchasing an additional 24,838 shares in the last quarter. Citigroup Inc. grew its position in NMI by 95.4% in the 3rd quarter. Citigroup Inc. now owns 129,180 shares of the financial services provider’s stock worth $5,321,000 after purchasing an additional 63,058 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in NMI by 53.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 112,224 shares of the financial services provider’s stock worth $4,623,000 after purchasing an additional 39,012 shares in the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.

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.