Barclays Increases NMI (NASDAQ:NMIH) Price Target to $41.00

NMI (NASDAQ:NMIHGet Free Report) had its target price increased by Barclays from $40.00 to $41.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price indicates a potential upside of 17.75% from the company’s current price.

Several other analysts have also issued reports on NMIH. Compass Point increased their price objective on NMI from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. raised their target price on NMI from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Monday. StockNews.com upgraded NMI from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Keefe, Bruyette & Woods raised their target price on NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, April 4th. Finally, Truist Financial raised their target price on NMI from $36.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, NMI presently has an average rating of “Moderate Buy” and a consensus target price of $36.44.

View Our Latest Research Report on NMIH

NMI Price Performance

Shares of NASDAQ:NMIH opened at $34.82 on Tuesday. NMI has a 12-month low of $25.62 and a 12-month high of $34.82. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.20. The company has a market cap of $2.80 billion, a P/E ratio of 8.62, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09. The company’s fifty day moving average is $33.24 and its two-hundred day moving average is $31.32.

NMI (NASDAQ:NMIHGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.12. NMI had a return on equity of 18.09% and a net margin of 56.26%. The business had revenue of $156.25 million during the quarter, compared to analyst estimates of $133.76 million. During the same period last year, the company earned $0.88 earnings per share. NMI’s quarterly revenue was up 14.2% compared to the same quarter last year. Equities analysts expect that NMI will post 4.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NMI

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC grew its position in shares of NMI by 92.7% in the second quarter. CWM LLC now owns 2,974 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 1,431 shares during the last quarter. Goldentree Asset Management LP acquired a new stake in NMI during the first quarter worth about $22,600,000. Hancock Whitney Corp grew its position in NMI by 1.6% during the first quarter. Hancock Whitney Corp now owns 22,098 shares of the financial services provider’s stock worth $715,000 after buying an additional 346 shares in the last quarter. Virtus Investment Advisers Inc. grew its position in NMI by 4.6% during the first quarter. Virtus Investment Advisers Inc. now owns 32,106 shares of the financial services provider’s stock worth $1,038,000 after buying an additional 1,410 shares in the last quarter. Finally, Caxton Associates LP grew its position in NMI by 82.5% during the first quarter. Caxton Associates LP now owns 27,328 shares of the financial services provider’s stock worth $884,000 after buying an additional 12,350 shares in the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

About NMI

(Get Free Report)

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.

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