NMI (NASDAQ:NMIH) Price Target Raised to $43.00

by · The Cerbat Gem

NMI (NASDAQ:NMIH – Free Report) had its price target raised by JPMorgan Chase & Co. from $42.00 to $43.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other equities research analysts have also recently issued reports on NMIH. UBS Group set a $43.00 target price on NMI in a research note on Monday. Weiss Ratings reiterated a “buy (b)” rating on shares of NMI in a report on Wednesday, October 8th. Keefe, Bruyette & Woods raised NMI from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $46.00 to $48.00 in a research note on Thursday, December 18th. Finally, Barclays boosted their target price on shares of NMI from $43.00 to $44.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $43.00.

Read Our Latest Stock Report on NMIH

NMI Price Performance

NMIH stock opened at $37.05 on Monday. The stock’s fifty day simple moving average is $39.01 and its 200-day simple moving average is $38.63. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. NMI has a 52-week low of $31.90 and a 52-week high of $43.20. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 7.75, a price-to-earnings-growth ratio of 1.10 and a beta of 0.66.

NMI (NASDAQ:NMIH – Get Free Report) last announced its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.21. NMI had a return on equity of 16.08% and a net margin of 55.02%.The firm had revenue of $171.56 million during the quarter, compared to the consensus estimate of $177.01 million. During the same period in the prior year, the firm earned $1.15 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities research analysts expect that NMI will post 4.62 EPS for the current year.

Insiders Place Their Bets

In related news, Director Michael J. Embler sold 20,000 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $36.90, for a total transaction of $738,000.00. Following the completion of the sale, the director owned 46,046 shares in the company, valued at $1,699,097.40. This trade represents a 30.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On NMI

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NMIH. Allworth Financial LP grew its position in shares of NMI by 196.0% in the 3rd quarter. Allworth Financial LP now owns 660 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 437 shares during the period. Maseco LLP acquired a new position in shares of NMI during the 2nd quarter worth approximately $32,000. Harbor Capital Advisors Inc. lifted its stake 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 last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of NMI during the second quarter worth approximately $36,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in NMI in the 2nd quarter valued at $49,000. Institutional investors own 94.12% of the company’s stock.

NMI Company Profile

(Get Free Report)

NMI Holdings, Inc (NASDAQ: NMIH) is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher‐loan‐to‐value mortgages, the company supports homebuyers’ access to financing and contributes to overall market liquidity.

Beyond its core mortgage insurance products, NMI offers credit risk‐sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.

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