NMI (NASDAQ:NMIH) Price Target Raised to $40.00 at JPMorgan Chase & Co.

NMI (NASDAQ:NMIHFree Report) had its price objective boosted by JPMorgan Chase & Co. from $36.00 to $40.00 in a report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

NMIH has been the topic of several other reports. Compass Point raised their price objective on NMI from $33.00 to $36.00 and gave the company a buy rating in a research note on Tuesday, May 7th. Truist Financial raised their price target on shares of NMI from $36.00 to $37.00 and gave the company a buy rating in a research note on Wednesday, May 1st. StockNews.com upgraded shares of NMI from a hold rating to a buy rating in a research report on Wednesday, June 19th. Keefe, Bruyette & Woods raised their target price on shares of NMI from $33.00 to $36.00 and gave the company a market perform rating in a research report on Thursday, April 4th. Finally, UBS Group downgraded shares of NMI from a buy rating to a neutral rating and upped their price target for the stock from $37.00 to $39.00 in a report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $36.00.

Check Out Our Latest Stock Analysis on NMIH

NMI Price Performance

Shares of NASDAQ:NMIH opened at $33.86 on Monday. The firm has a 50 day moving average of $33.10 and a 200-day moving average of $31.26. NMI has a 12 month low of $25.29 and a 12 month high of $34.58. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $2.72 billion, a PE ratio of 8.38, a PEG ratio of 1.16 and a beta of 1.09.

NMI (NASDAQ:NMIHGet Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.96 by $0.12. The business had revenue of $156.25 million during the quarter, compared to the consensus estimate of $133.76 million. NMI had a net margin of 56.26% and a return on equity of 18.09%. The company’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. On average, equities research analysts predict that NMI will post 4.24 EPS for the current fiscal year.

Institutional Trading of NMI

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of NMI by 5.3% in 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 buying an additional 358,930 shares during the period. Assenagon Asset Management S.A. increased its position in NMI by 33.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,144,360 shares of the financial services provider’s stock valued at $37,009,000 after purchasing an additional 284,405 shares during the period. Capital International Investors bought a new position in NMI during the 1st quarter worth approximately $32,270,000. American Century Companies Inc. lifted its position in shares of NMI by 11.6% in the 3rd quarter. American Century Companies Inc. now owns 988,812 shares of the financial services provider’s stock worth $26,787,000 after purchasing an additional 102,857 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of NMI by 9.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 980,783 shares of the financial services provider’s stock valued at $29,110,000 after purchasing an additional 81,727 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.

NMI Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for NMI (NASDAQ:NMIH)

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