NMI (NASDAQ:NMIH) PT Raised to $40.00

NMI (NASDAQ:NMIH) had its price target increased by equities researchers at Royal Bank of Canada from $34.00 to $40.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 1.50% from the company’s previous close.

A number of other research firms also recently weighed in on NMIH. Barclays upped their price target on shares of NMI from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. StockNews.com raised NMI from a “hold” rating to a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. increased their price target on NMI from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, July 8th. Truist Financial upped their price objective on shares of NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, UBS Group cut shares of NMI from a “buy” rating to a “neutral” rating and upped their price target for the company from $37.00 to $39.00 in a report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, NMI has an average rating of “Moderate Buy” and a consensus price target of $38.33.

NMI Stock Up 0.5 %

NMI stock traded up $0.21 during mid-day trading on Wednesday, hitting $39.41. The company’s stock had a trading volume of 149,624 shares, compared to its average volume of 533,425. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.89 and a quick ratio of 0.89. NMI has a 52-week low of $25.62 and a 52-week high of $42.01. The firm’s 50 day moving average is $34.44 and its 200 day moving average is $32.13. The company has a market cap of $3.16 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 0.98 and a beta of 1.09.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.15. NMI had a net margin of 56.26% and a return on equity of 18.09%. The business had revenue of $162.12 million during the quarter, compared to analyst estimates of $138.49 million. During the same period in the prior year, the firm earned $0.95 earnings per share. The firm’s revenue was up 13.6% compared to the same quarter last year. On average, analysts anticipate that NMI will post 4.27 earnings per share for the current year.

Insider Activity

In other news, insider William J. Leatherberry 44,725 shares of the company’s stock in a transaction dated Wednesday, July 31st. The was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NMI

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of NMI by 5.3% during the first quarter. Vanguard Group Inc. now owns 7,168,138 shares of the financial services provider’s stock worth $231,818,000 after purchasing an additional 358,930 shares during the period. Assenagon Asset Management S.A. lifted its stake in NMI by 23.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,407,610 shares of the financial services provider’s stock valued at $47,915,000 after purchasing an additional 263,250 shares during the last quarter. Capital International Investors bought a new stake in NMI in the 1st quarter valued at $32,270,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of NMI by 9.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 980,783 shares of the financial services provider’s stock worth $29,110,000 after buying an additional 81,727 shares during the period. Finally, Clearbridge Investments LLC grew its stake in NMI by 22.5% in the 4th quarter. Clearbridge Investments LLC now owns 804,527 shares of the financial services provider’s stock valued at $23,878,000 after buying an additional 147,941 shares during the last quarter. Institutional investors own 94.12% of the company’s stock.

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.