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

NMI (NASDAQ:NMIH) had its price target lifted by Barclays from $41.00 to $43.00 in a research note released on Wednesday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other brokerages have also recently commented on NMIH. Truist Financial increased their target price on NMI from $37.00 to $47.00 and gave the company a buy rating in a report on Wednesday. Compass Point increased their target price on NMI from $33.00 to $36.00 and gave the company a buy rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. increased their target price on NMI from $40.00 to $42.00 and gave the company an overweight rating in a report on Wednesday. StockNews.com raised NMI from a hold rating to a buy rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods increased 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NMI has an average rating of Moderate Buy and a consensus price target of $40.00.

NMI Stock Performance

Shares of NMIH stock opened at $37.69 on Wednesday. The stock has a market cap of $3.00 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 0.94 and a beta of 1.09. The business has a 50-day simple moving average of $34.78 and a 200-day simple moving average of $32.30. The company has a quick ratio of 0.89, a current ratio of 0.67 and a debt-to-equity ratio of 0.20. NMI has a 52-week low of $25.62 and a 52-week high of $42.01.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.15. The business had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $138.49 million. NMI had a return on equity of 18.29% and a net margin of 56.40%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 EPS. On average, equities analysts expect that NMI will post 4.33 EPS for the current year.

Insider Buying and Selling

In related news, Director Michael J. Embler sold 26,008 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total value of $1,023,414.80. Following the completion of the transaction, the director now directly owns 61,607 shares in the company, valued at $2,424,235.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider William J. Leatherberry 44,725 shares of NMI stock in a transaction dated Wednesday, July 31st. The was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael J. Embler sold 26,008 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total value of $1,023,414.80. Following the transaction, the director now owns 61,607 shares of the company’s stock, valued at $2,424,235.45. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in shares of NMI during the second quarter worth $29,000. Daiwa Securities Group Inc. acquired a new stake in shares of NMI in the fourth quarter valued at $27,000. Fidelis Capital Partners LLC acquired a new stake in shares of NMI in the first quarter valued at $31,000. TFO Wealth Partners LLC raised its stake in shares of NMI by 24,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 1,225 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in shares of NMI in the second quarter valued at $63,000. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

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.