NMI (NASDAQ:NMIH) Price Target Raised to $46.00

NMI (NASDAQ:NMIH) had its target price lifted by JPMorgan Chase & Co. from $45.00 to $46.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other equities analysts have also commented on NMIH. Keefe, Bruyette & Woods lowered shares of NMI from an “outperform” rating to a “market perform” rating and set a $47.00 price objective on the stock. in a report on Monday, August 3rd. Barclays decreased their price objective on shares of NMI from $43.00 to $42.00 and set an “equal weight” rating for the company in a research report on Friday, November 6th. Royal Bank Of Canada restated an “outperform” rating and set a $53.00 target price on shares of NMI in a research note on Tuesday, August 4th. Bank of America lowered NMI from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $51.00 to $44.00 in a research report on Friday, October 30th. Finally, Weiss Ratings cut NMI from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, November 3rd. Five analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, NMI presently has an average rating of “Moderate Buy” and a consensus target price of $47.88.

NMI Trading Down 0.4%

NMIH opened at $38.88 on Tuesday. The firm has a market capitalization of $2.90 billion, a P/E ratio of 7.67, a P/E/G ratio of 4.90 and a beta of 0.52. The firm’s 50 day moving average is $41.57 and its 200-day moving average is $40.38. NMI has a 52-week low of $35.12 and a 52-week high of $46.74. The company has a quick ratio of 0.65, a current ratio of 0.67 and a debt-to-equity ratio of 0.15.

NMI (NASDAQ:NMIH) last announced its earnings results on Thursday, November 5th. The financial services provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.07). The firm had revenue of $187.55 million during the quarter, compared to analysts’ expectations of $159.20 million. NMI had a net margin of 53.11% and a return on equity of 14.78%. During the same quarter last year, the company posted $1.21 earnings per share. Analysts expect that NMI will post 5.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Adam Pollitzer sold 172,706 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $44.85, for a total value of $7,745,864.10. Following the completion of the sale, the chief executive officer directly owned 270,267 shares of the company’s stock, valued at $12,121,474.95. The trade was a 38.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.44% of the stock is owned by company insiders.

Institutional Trading of NMI

Several hedge funds have recently made changes to their positions in NMIH. Donald Smith & CO. Inc. acquired a new position in shares of NMI during the second quarter worth approximately $36,262,000. Bank of New York Mellon Corp acquired a new position in shares of NMI during the second quarter valued at $20,919,000. Winmill & CO. Inc. bought a new stake in shares of NMI during the second quarter valued at about $16,276,000. Bank of America Corp DE raised its stake in shares of NMI by 22.7% during the first quarter. Bank of America Corp DE now owns 1,304,633 shares of the financial services provider’s stock valued at $48,937,000 after purchasing an additional 241,724 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new stake in shares of NMI during the third quarter valued at about $6,147,000. Institutional investors own 94.12% of the company’s stock.

NMI Company Profile

NMI Holdings, Inc. provides private mortgage insurance through its subsidiary, National Mortgage Insurance Corporation. Its coverage helps lenders manage the risk of mortgage loans made to borrowers who have smaller down payments, while enabling borrowers to qualify for home financing without a 20% down payment. The company offers mortgage insurance products and related services to mortgage lenders, banks, credit unions and other housing-market participants. Its offerings include borrower-paid and lender-paid coverage, along with technology and services that support mortgage insurance underwriting and policy management.