Barclays Boosts NMI (NASDAQ:NMIH) Price Target to $48.00

NMI (NASDAQ:NMIH) had its price target boosted by Barclays from $43.00 to $48.00 in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Other equities analysts also recently issued reports about the stock. Keefe, Bruyette & Woods lifted their price target on shares of NMI from $37.00 to $40.00 and gave the company a market perform rating in a report on Thursday, August 1st. Royal Bank of Canada raised shares of NMI from a sector perform rating to an outperform rating and lifted their price target for the company from $40.00 to $48.00 in a report on Wednesday, September 18th. JPMorgan Chase & Co. upped their target price on shares of NMI from $42.00 to $46.00 and gave the stock an overweight rating in a research report on Monday. Truist Financial upped their target price on shares of NMI from $37.00 to $47.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. Finally, StockNews.com lowered shares of NMI from a buy rating to a hold rating in a research report on Wednesday, August 21st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, NMI has an average rating of Moderate Buy and an average price target of $42.13.

NMI Stock Down 0.5 %

NMI stock opened at $40.64 on Tuesday. The company has a market capitalization of $3.24 billion, a P/E ratio of 9.63, a P/E/G ratio of 0.93 and a beta of 1.12. The firm’s fifty day simple moving average is $39.83 and its 200-day simple moving average is $35.58. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.20. NMI has a 1-year low of $26.41 and a 1-year high of $42.49.

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 the consensus estimate of $1.05 by $0.15. The company had revenue of $162.12 million for the quarter, compared to analyst estimates of $138.49 million. NMI had a net margin of 56.40% and a return on equity of 18.29%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS. Sell-side analysts forecast that NMI will post 4.5 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NMI news, Director Michael J. Embler sold 26,008 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the sale, the director now directly owns 61,607 shares of the company’s stock, valued at $2,424,235.45. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider William J. Leatherberry sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total value of $120,210.00. Following the transaction, the insider now directly owns 153,689 shares in the company, valued at approximately $6,158,318.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael J. Embler sold 26,008 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the transaction, the director now owns 61,607 shares in the company, valued at $2,424,235.45. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted 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 valued at $231,818,000 after purchasing an additional 358,930 shares during the period. Van Berkom & Associates Inc. lifted its stake in NMI by 2.1% in the second quarter. Van Berkom & Associates Inc. now owns 2,451,743 shares of the financial services provider’s stock worth $83,457,000 after acquiring an additional 51,194 shares during the period. American Century Companies Inc. lifted its stake in NMI by 18.4% in the second quarter. American Century Companies Inc. now owns 1,617,601 shares of the financial services provider’s stock worth $55,063,000 after acquiring an additional 251,664 shares during the period. Assenagon Asset Management S.A. lifted its stake in NMI by 23.0% in the second quarter. Assenagon Asset Management S.A. now owns 1,407,610 shares of the financial services provider’s stock worth $47,915,000 after acquiring an additional 263,250 shares during the period. Finally, Millennium Management LLC lifted its stake in NMI by 34.8% in the second quarter. Millennium Management LLC now owns 1,020,415 shares of the financial services provider’s stock worth $34,735,000 after acquiring an additional 263,478 shares during the period. 94.12% of the stock is currently owned by 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.