Compass Point Raises NMI (NASDAQ:NMIH) Price Target to $36.00

NMI (NASDAQ:NMIH) had its target price hoisted by equities researchers at Compass Point from $33.00 to $36.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Compass Point’s price objective suggests a potential upside of 7.72% from the stock’s current price.

Several other research firms have also recently commented on NMIH. StockNews.com upgraded shares of NMI from a “hold” rating to a “buy” rating in a report on Friday, May 3rd. Royal Bank of Canada lifted their target price on shares of NMI from $31.00 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. Keefe, Bruyette & Woods upped their price target on shares of NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a research note on Thursday, April 4th. JPMorgan Chase & Co. lifted their price objective on NMI from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Truist Financial boosted their target price on NMI from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.22.

NMI Price Performance

Shares of NASDAQ:NMIH opened at $33.42 on Tuesday. The company’s fifty day moving average is $30.80 and its two-hundred day moving average is $29.66. The company has a market cap of $2.68 billion, a P/E ratio of 8.27, a price-to-earnings-growth ratio of 1.17 and a beta of 1.06. NMI has a 12-month low of $23.63 and a 12-month high of $33.97. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.20.

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

Insider Transactions at NMI

In related news, EVP Robert Owen Smith sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was 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 directly owns 82,612 shares in the company, valued at approximately $2,576,668.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Robert Owen Smith sold 3,000 shares of NMI stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $31.19, for a total value of $93,570.00. Following the transaction, the executive vice president now owns 82,612 shares of the company’s stock, valued at $2,576,668.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Bradley M. Shuster sold 12,836 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $30.53, for a total transaction of $391,883.08. Following the completion of the sale, the chairman now owns 427,271 shares of the company’s stock, valued at $13,044,583.63. The disclosure for this sale can be found here. In the last quarter, insiders sold 145,158 shares of company stock worth $4,395,582. 2.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NMI

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Daiwa Securities Group Inc. bought a new stake in NMI during the 4th quarter valued at approximately $27,000. Fidelis Capital Partners LLC acquired a new position in shares of NMI during the first quarter worth approximately $31,000. TFO Wealth Partners LLC boosted its position 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 during the period. Robeco Institutional Asset Management B.V. acquired a new stake in shares of NMI in the fourth quarter worth $145,000. Finally, Quadrant Capital Group LLC raised its stake in NMI by 6.1% during the 4th 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 during the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

NMI Company Profile

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.