NMI Holdings Inc (NASDAQ:NMIH) Stock Has Average Price Target of $48.33 According to Analysts

NMI Holdings Inc (NASDAQ:NMIH) has been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $49.14.

Several analysts have issued reports on NMIH shares. BTIG Research initiated coverage on shares of NMI in a research note on Tuesday. They issued a “buy” rating and a $54.00 price objective for the company. JPMorgan Chase & Co. upped their target price on NMI from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of NMI in a report on Wednesday, September 9th. Royal Bank Of Canada restated an “outperform” rating and set a $53.00 price objective on shares of NMI in a report on Tuesday, August 4th. Finally, Truist Financial upped their price objective on NMI from $49.00 to $51.00 and gave the company a “buy” rating in a research report on Friday, July 31st.

NMI Stock Performance

NASDAQ NMIH opened at $41.23 on Friday. The company has a market cap of $3.10 billion, a P/E ratio of 8.12, a P/E/G ratio of 1.12 and a beta of 0.53. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.65 and a current ratio of 0.65. The business’s 50 day moving average price is $44.03 and its 200-day moving average price is $40.45. NMI has a fifty-two week low of $34.84 and a fifty-two week high of $46.74.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Thursday, July 30th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.10. NMI had a return on equity of 15.13% and a net margin of 54.10%.The company had revenue of $187.89 million during the quarter, compared to the consensus estimate of $156.26 million. During the same period last year, the company earned $1.22 earnings per share. NMI’s revenue was up 8.1% on a year-over-year basis. Sell-side analysts predict that NMI will post 5.25 earnings per share for the current year.

Insider Activity

In other news, CEO Adam Pollitzer sold 172,706 shares of the business’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $44.85, for a total transaction of $7,745,864.10. Following the completion of the sale, the chief executive officer directly owned 270,267 shares of the company’s stock, valued at approximately $12,121,474.95. The trade was a 38.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Aurora Swithenbank sold 11,662 shares of the company’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $44.51, for a total transaction of $519,075.62. Following the completion of the transaction, the executive vice president owned 50,734 shares in the company, valued at approximately $2,258,170.34. The trade was a 18.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 196,368 shares of company stock valued at $8,800,740. 2.44% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NMI

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. WINTON GROUP Ltd grew its stake in NMI by 96.0% in the second quarter. WINTON GROUP Ltd now owns 24,747 shares of the financial services provider’s stock valued at $1,017,000 after purchasing an additional 12,120 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of NMI during the second quarter valued at about $122,000. NewEdge Advisors LLC boosted its holdings in shares of NMI by 7.5% in the 2nd quarter. NewEdge Advisors LLC now owns 18,050 shares of the financial services provider’s stock valued at $742,000 after buying an additional 1,252 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of NMI by 44.3% in the 2nd quarter. Allworth Financial LP now owns 2,184 shares of the financial services provider’s stock valued at $90,000 after buying an additional 670 shares in the last quarter. Finally, Nykredit A S purchased a new position in shares of NMI in the 2nd quarter worth approximately $31,000. Institutional investors own 94.12% of the company’s stock.

NMI Company Profile

NMI Holdings, Inc (NASDAQ: NMIH) is the parent company of National MI, a provider of private mortgage insurance in the United States. Through its insurance subsidiaries, the company offers mortgage insurance to lenders and other mortgage market participants, helping protect against losses when borrowers default on residential home loans.

National MI’s products support conventional residential mortgages, including borrower-paid and lender-paid mortgage insurance arrangements. Its coverage is generally used when a homebuyer makes a down payment of less than 20%, enabling lenders to extend mortgage credit while reducing their exposure to potential default-related losses.