UBS Group Cuts NMI (NASDAQ:NMIH) Price Target to $41.00

NMI (NASDAQ:NMIH) had its price objective trimmed by UBS Group from $42.00 to $41.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Other analysts have also issued reports about the stock. Keefe, Bruyette & Woods reduced their price target on shares of NMI from $44.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada cut their target price on shares of NMI from $48.00 to $47.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Barclays cut shares of NMI from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $48.00 to $41.00 in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reduced their price objective on NMI from $46.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.29.

NMI Price Performance

Shares of NASDAQ:NMIH opened at $35.18 on Wednesday. The company’s fifty day moving average is $37.02 and its two-hundred day moving average is $38.60. The company has a market cap of $2.78 billion, a P/E ratio of 7.94, a price-to-earnings-growth ratio of 1.42 and a beta of 1.12. NMI has a 12-month low of $28.73 and a 12-month high of $42.49. 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 quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share 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%. Equities analysts expect that NMI will post 4.62 earnings per share for the current fiscal year.

Institutional Trading of NMI

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC raised its stake in shares of NMI by 32.3% in the 3rd quarter. CWM LLC now owns 3,936 shares of the financial services provider’s stock valued at $162,000 after acquiring an additional 962 shares in the last quarter. Creative Planning grew its holdings in NMI by 13.4% during the third quarter. Creative Planning now owns 20,006 shares of the financial services provider’s stock valued at $824,000 after purchasing an additional 2,357 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of NMI by 38.0% in the third quarter. Assenagon Asset Management S.A. now owns 1,942,428 shares of the financial services provider’s stock valued at $80,009,000 after purchasing an additional 534,818 shares during the period. Donald Smith & CO. Inc. lifted its stake in shares of NMI by 11.1% in the third quarter. Donald Smith & CO. Inc. now owns 969,872 shares of the financial services provider’s stock worth $39,949,000 after buying an additional 97,125 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of NMI by 989.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,248 shares of the financial services provider’s stock worth $134,000 after buying an additional 2,950 shares during the period. Institutional investors and hedge funds own 94.12% of the company’s stock.

NMI Company Profile

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.