NMI (NASDAQ:NMIH) Price Target Raised to $36.00

NMI (NASDAQ:NMIH) had its target price boosted by JPMorgan Chase & Co. from $35.00 to $36.00 in a research report released on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

A number of other research analysts have also recently issued reports on the stock. Truist Financial raised their price target on shares of NMI from $36.00 to $37.00 and gave the stock a buy rating in a report on Wednesday. Royal Bank of Canada raised their target price on NMI from $31.00 to $33.00 and gave the stock a sector perform rating in a research note on Thursday, February 15th. Keefe, Bruyette & Woods boosted their price target on NMI from $33.00 to $36.00 and gave the company a market perform rating in a research note on Thursday, April 4th. Finally, StockNews.com cut NMI from a buy rating to a hold rating in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $34.67.

NMI Trading Up 0.1 %

Shares of NASDAQ:NMIH opened at $32.51 on Wednesday. The business’s 50-day moving average is $30.57 and its 200 day moving average is $29.53. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.89 and a quick ratio of 0.73. NMI has a 1 year low of $22.49 and a 1 year high of $32.80. The firm has a market capitalization of $2.61 billion, a P/E ratio of 8.05, a P/E/G ratio of 1.17 and a beta of 1.06.

NMI (NASDAQ:NMIH) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.12. The firm had revenue of $156.25 million for the quarter, compared to the consensus estimate of $133.76 million. NMI had a net margin of 56.26% and a return on equity of 18.09%. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 earnings per share. On average, research analysts predict that NMI will post 4.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NMI news, EVP Robert Owen Smith sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $31.19, for a total value of $93,570.00. Following the sale, the executive vice president now owns 82,612 shares in the company, valued at approximately $2,576,668.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other NMI news, EVP Robert Owen Smith sold 3,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $31.19, for a total value of $93,570.00. Following the completion of the transaction, the executive vice president now owns 82,612 shares in the company, valued at $2,576,668.28. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Bradley M. Shuster sold 6,559 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $29.81, for a total value of $195,523.79. Following the sale, the chairman now owns 453,298 shares in the company, valued at $13,512,813.38. The disclosure for this sale can be found here. Insiders have sold a total of 145,158 shares of company stock valued at $4,395,582 over the last ninety days. Company insiders own 2.70% of the company’s stock.

Institutional Trading of NMI

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Daiwa Securities Group Inc. purchased a new stake in NMI in the 4th quarter worth $27,000. Fidelis Capital Partners LLC purchased a new stake in shares of NMI during the first quarter worth about $31,000. TFO Wealth Partners LLC raised its position in shares of NMI by 24,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,225 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in NMI in the 4th quarter valued at about $145,000. Finally, Quadrant Capital Group LLC lifted its stake in NMI by 6.1% in the 4th quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider’s stock valued at $180,000 after buying an additional 350 shares in the last quarter. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

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.