Zacks Investment Research Downgrades NMI (NMIH) to Hold

NMI (NASDAQ:NMIH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “NMI Holdings, Inc., through its subsidiaries, provides private mortgage insurance in the United States. NMI Holdings, Inc. is based in Emeryville, California. “

Several other brokerages have also issued reports on NMIH. BidaskClub raised shares of NMI from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 20th. B. Riley upped their target price on shares of NMI from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, February 14th. Barclays set a $28.00 target price on shares of NMI and gave the stock a “buy” rating in a report on Thursday, February 14th. ValuEngine raised shares of NMI from a “hold” rating to a “buy” rating in a report on Friday, January 25th. Finally, JPMorgan Chase & Co. started coverage on shares of NMI in a report on Tuesday, December 11th. They issued an “overweight” rating and a $25.00 target price on the stock. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $25.22.

Shares of NMI stock opened at $25.93 on Wednesday. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 15.62 and a beta of 1.38. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.33 and a current ratio of 0.33. NMI has a 52-week low of $13.35 and a 52-week high of $26.28.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Tuesday, February 12th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The firm had revenue of $76.26 million for the quarter, compared to analyst estimates of $77.40 million. NMI had a net margin of 39.24% and a return on equity of 17.47%. Analysts expect that NMI will post 2.21 EPS for the current fiscal year.

In other news, EVP William J. Leatherberry sold 39,897 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $25.98, for a total transaction of $1,036,524.06. Following the completion of the transaction, the executive vice president now directly owns 181,055 shares of the company’s stock, valued at approximately $4,703,808.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Patrick L. Mathis sold 54,118 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $25.98, for a total transaction of $1,405,985.64. Following the transaction, the chief operating officer now directly owns 81,650 shares of the company’s stock, valued at $2,121,267. The disclosure for this sale can be found here. Over the last three months, insiders have sold 340,502 shares of company stock valued at $8,433,377. 5.70% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Invictus RG bought a new position in shares of NMI during the 3rd quarter worth approximately $281,000. American Century Companies Inc. grew its stake in shares of NMI by 76.0% during the 3rd quarter. American Century Companies Inc. now owns 597,894 shares of the financial services provider’s stock worth $13,542,000 after acquiring an additional 258,159 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of NMI by 416.5% during the 4th quarter. Meeder Asset Management Inc. now owns 7,190 shares of the financial services provider’s stock worth $127,000 after acquiring an additional 5,798 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of NMI by 9.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,439,629 shares of the financial services provider’s stock worth $123,208,000 after acquiring an additional 455,098 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of NMI by 10.0% during the 3rd quarter. Prudential Financial Inc. now owns 106,845 shares of the financial services provider’s stock worth $2,420,000 after acquiring an additional 9,710 shares in the last quarter. 90.52% of the stock is owned by institutional investors.

About NMI

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; 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.

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