NMI (NASDAQ:NMIH) Price Target Raised to $37.00

NMI (NASDAQ:NMIH) had its price objective raised by Truist Financial from $36.00 to $37.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of NMI from a buy rating to a hold rating in a report on Thursday, March 21st. Keefe, Bruyette & Woods increased their price target on shares of NMI from $33.00 to $36.00 and gave the company a market perform rating in a research note on Thursday, April 4th. Royal Bank of Canada lifted their price objective on NMI from $31.00 to $33.00 and gave the company a sector perform rating in a research note on Thursday, February 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of NMI from $34.00 to $35.00 and gave the stock an overweight rating in a research note on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $34.67.

NMI Trading Up 0.1 %

Shares of NASDAQ:NMIH opened at $32.51 on Wednesday. The company has a market capitalization of $2.61 billion, a PE ratio of 8.05, a P/E/G ratio of 1.17 and a beta of 1.06. The business’s fifty day simple moving average is $30.57 and its 200-day simple moving average is $29.53. NMI has a 12-month low of $22.49 and a 12-month high of $32.80. The company has a current ratio of 0.89, a quick ratio of 0.73 and a debt-to-equity ratio of 0.20.

NMI (NASDAQ:NMIH) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.12. NMI had a return on equity of 18.09% and a net margin of 56.26%. The company had revenue of $156.25 million for the quarter, compared to analyst estimates of $133.76 million. During the same period in the prior year, the company posted $0.88 EPS. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, equities research analysts predict that NMI will post 4.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Robert Owen Smith sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $31.19, for a total value of $93,570.00. Following the completion of the sale, the executive vice president now owns 82,612 shares in the company, valued at $2,576,668.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Norman Peter Fitzgerald sold 12,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $30.00, for a total value of $360,000.00. Following the sale, the executive vice president now directly owns 42,733 shares in the company, valued at $1,281,990. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Owen Smith sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $31.19, for a total transaction of $93,570.00. Following the sale, the executive vice president now directly owns 82,612 shares in the company, valued at $2,576,668.28. The disclosure for this sale can be found here. Insiders have sold a total of 145,158 shares of company stock valued at $4,395,582 over the last quarter. 2.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NMI

Several hedge funds have recently made changes to their positions in NMIH. Daiwa Securities Group Inc. purchased a new position in NMI in the fourth quarter valued at about $27,000. Fidelis Capital Partners LLC acquired a new stake in NMI during the first quarter worth about $31,000. TFO Wealth Partners LLC increased its holdings in shares of NMI by 24,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 1,225 shares during the period. Robeco Institutional Asset Management B.V. bought a new position in NMI in the 4th quarter worth approximately $145,000. Finally, Quadrant Capital Group LLC raised its stake in shares of NMI by 6.1% during the fourth quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider’s stock valued at $180,000 after purchasing an additional 350 shares in the last quarter. Institutional investors and hedge funds 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.