Brokerages Set NMI Holdings Inc (NASDAQ:NMIH) Target Price at $42.33

Shares of NMI Holdings Inc (NASDAQ:NMIH) have been given a consensus rating of “Moderate Buy” by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $42.3333.

Several research analysts have recently commented on NMIH shares. Barclays restated a “cautious” rating on shares of NMI in a research note on Monday, October 6th. Wall Street Zen lowered shares of NMI from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Weiss Ratings restated a “buy (b)” rating on shares of NMI in a research note on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price target on shares of NMI from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods lowered shares of NMI from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $42.00 to $43.00 in a research note on Monday, July 7th.

NMI Stock Up 1.3%

NMI stock opened at $37.04 on Thursday. The firm has a market cap of $2.87 billion, a PE ratio of 7.86, a P/E/G ratio of 1.06 and a beta of 0.56. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74. The firm’s 50 day moving average price is $38.36 and its two-hundred day moving average price is $38.15. NMI has a twelve month low of $31.90 and a twelve month high of $43.20.

NMI (NASDAQ:NMIH) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.06. The firm had revenue of $149.07 million for the quarter, compared to analyst estimates of $173.39 million. NMI had a net margin of 55.57% and a return on equity of 16.51%. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.20 EPS. On average, research analysts predict that NMI will post 4.62 EPS for the current fiscal year.

Insider Activity at NMI

In other news, Director Steven Scheid sold 19,926 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $39.31, for a total transaction of $783,291.06. Following the transaction, the director owned 78,960 shares in the company, valued at $3,103,917.60. This represents a 20.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of NMI

Several large investors have recently modified their holdings of NMIH. Sound Income Strategies LLC bought a new stake in shares of NMI during the 1st quarter worth $25,000. Maseco LLP bought a new stake in shares of NMI during the 2nd quarter worth $32,000. Harbor Capital Advisors Inc. boosted its holdings in shares of NMI by 51.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 856 shares of the financial services provider’s stock worth $33,000 after buying an additional 291 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of NMI during the 2nd quarter worth $36,000. Finally, Neo Ivy Capital Management bought a new stake in shares of NMI during the 1st quarter worth $47,000. 94.12% of the stock is owned by institutional investors.

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.