NMI Holdings Inc (NMIH) Cut to Hold at Deutsche Bank AG
Deutsche Bank AG cut shares of NMI Holdings Inc (NASDAQ:NMIH) from a buy rating to a hold rating in a research note published on Friday morning. Deutsche Bank AG currently has $16.00 price target on the financial services provider’s stock.
Other analysts also recently issued research reports about the company. Zacks Investment Research upgraded NMI Holdings from a hold rating to a strong-buy rating and set a $15.00 price target for the company in a research report on Saturday, October 14th. Singular Research assumed coverage on NMI Holdings in a research report on Monday, October 16th. They issued a buy rating and a $16.00 price objective for the company. ValuEngine downgraded NMI Holdings from a buy rating to a hold rating in a research report on Monday, October 2nd. BidaskClub cut NMI Holdings from a hold rating to a sell rating in a research note on Friday, July 28th. Finally, Compass Point reissued a neutral rating and set a $13.00 target price on shares of NMI Holdings in a research note on Saturday, October 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $15.93.
Shares of NMI Holdings (NMIH) traded up $0.30 during trading hours on Friday, reaching $16.20. The company’s stock had a trading volume of 1,067,036 shares, compared to its average volume of 1,400,000. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.28. NMI Holdings has a fifty-two week low of $8.20 and a fifty-two week high of $17.08. The company has a market cap of $969.54, a PE ratio of 27.90 and a beta of 0.75.
NMI Holdings (NASDAQ:NMIH) last announced its earnings results on Wednesday, November 1st. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. NMI Holdings had a return on equity of 6.95% and a net margin of 51.80%. The firm had revenue of $48.95 million during the quarter, compared to analyst estimates of $45.79 million. During the same period last year, the firm posted $0.10 EPS. The business’s revenue was up 37.8% compared to the same quarter last year. equities research analysts forecast that NMI Holdings will post 0.54 earnings per share for the current year.
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In other NMI Holdings news, VP Julie Norberg sold 16,600 shares of the business’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $16.73, for a total value of $277,718.00. Following the sale, the vice president now directly owns 32,305 shares of the company’s stock, valued at $540,462.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William J. Leatherberry bought 5,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was bought at an average cost of $10.65 per share, for a total transaction of $53,250.00. The disclosure for this purchase can be found here. Insiders own 5.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in NMIH. Capital Research Global Investors boosted its holdings in NMI Holdings by 72.5% in the second quarter. Capital Research Global Investors now owns 3,481,202 shares of the financial services provider’s stock worth $39,860,000 after acquiring an additional 1,462,624 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of NMI Holdings by 849.8% during the second quarter. Wells Fargo & Company MN now owns 618,321 shares of the financial services provider’s stock valued at $7,081,000 after purchasing an additional 553,221 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of NMI Holdings by 22.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,445,052 shares of the financial services provider’s stock valued at $27,996,000 after purchasing an additional 446,918 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of NMI Holdings by 531.7% during the second quarter. Alliancebernstein L.P. now owns 289,320 shares of the financial services provider’s stock valued at $3,313,000 after purchasing an additional 243,520 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of NMI Holdings by 10.3% during the second quarter. Vanguard Group Inc. now owns 2,569,591 shares of the financial services provider’s stock valued at $29,421,000 after purchasing an additional 239,387 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors and hedge funds.
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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