Keefe, Bruyette & Woods Downgrades NMI Holdings Inc (NASDAQ:NMIH) to Market Perform

Keefe, Bruyette & Woods lowered shares of NMI Holdings Inc (NASDAQ:NMIH) from an outperform rating to a market perform rating in a report published on Monday, July 17th, MarketBeat Ratings reports. The firm currently has $13.00 target price on the financial services provider’s stock.

A number of other analysts also recently issued reports on the company. Deutsche Bank AG assumed coverage on NMI Holdings in a research report on Wednesday, July 5th. They set a buy rating and a $14.50 price objective for the company. Zacks Investment Research downgraded NMI Holdings from a hold rating to a sell rating in a research report on Tuesday, May 9th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $12.67.

NMI Holdings (NMIH) traded down 2.53% on Monday, hitting $11.55. 253,393 shares of the stock were exchanged. NMI Holdings has a 52-week low of $6.79 and a 52-week high of $12.70. The firm has a market cap of $691.41 million, a PE ratio of 9.19 and a beta of 0.64. The stock’s 50 day moving average price is $11.71 and its 200 day moving average price is $11.31.

NMI Holdings (NASDAQ:NMIH) last issued its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $42.20 million during the quarter, compared to the consensus estimate of $41.13 million. NMI Holdings had a return on equity of 5.95% and a net margin of 52.34%. The company’s quarterly revenue was up 43.1% on a year-over-year basis. During the same period last year, the company earned $0.03 EPS. Equities research analysts forecast that NMI Holdings will post $0.53 earnings per share for the current year.

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In other news, CEO Bradley M. Shuster sold 89,227 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $11.81, for a total transaction of $1,053,770.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Regina Muehlhauser acquired 10,000 shares of the stock in a transaction dated Thursday, June 15th. The shares were bought at an average cost of $11.03 per share, with a total value of $110,300.00. Following the completion of the transaction, the director now owns 21,578 shares of the company’s stock, valued at approximately $238,005.34. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 159,227 shares of company stock valued at $1,873,071. Corporate insiders own 5.40% of the company’s stock.

A number of large investors have recently bought and sold shares of NMIH. Dimensional Fund Advisors LP boosted its stake in NMI Holdings by 43.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,637,267 shares of the financial services provider’s stock valued at $17,437,000 after buying an additional 497,745 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in NMI Holdings during the fourth quarter valued at $1,408,000. Highbridge Capital Management LLC boosted its stake in NMI Holdings by 12.4% in the fourth quarter. Highbridge Capital Management LLC now owns 126,523 shares of the financial services provider’s stock valued at $1,347,000 after buying an additional 13,922 shares during the last quarter. State Street Corp boosted its stake in NMI Holdings by 2.1% in the fourth quarter. State Street Corp now owns 916,665 shares of the financial services provider’s stock valued at $9,761,000 after buying an additional 19,024 shares during the last quarter. Finally, Mckinley Capital Management LLC Delaware boosted its stake in NMI Holdings by 4,029.4% in the first quarter. Mckinley Capital Management LLC Delaware now owns 123,469 shares of the financial services provider’s stock valued at $1,408,000 after buying an additional 120,479 shares during the last quarter. Hedge funds and other institutional investors own 80.73% of the company’s stock.

About NMI Holdings

NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).

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