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

NMI (NASDAQ:NMIH) had its price target hoisted by Compass Point from $34.00 to $37.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. Keefe, Bruyette & Woods dropped their price objective on NMI from $43.00 to $42.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. Wall Street Zen upgraded NMI from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. JPMorgan Chase & Co. dropped their price objective on NMI from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Finally, UBS Group dropped their price objective on NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 19th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.29.

NMI Stock Performance

NMIH stock opened at $37.96 on Friday. The firm has a market cap of $2.97 billion, a PE ratio of 8.57, a P/E/G ratio of 1.41 and a beta of 0.56. The company has a quick ratio of 0.83, a current ratio of 0.60 and a debt-to-equity ratio of 0.19. The business has a 50 day moving average of $35.70 and a 200-day moving average of $36.63. NMI has a 12-month low of $31.60 and a 12-month high of $42.49.

NMI (NASDAQ:NMIH) last released its earnings results on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.18. The company had revenue of $173.25 million during the quarter, compared to analyst estimates of $169.04 million. NMI had a return on equity of 17.33% and a net margin of 55.32%. NMI’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 earnings per share. As a group, sell-side analysts expect that NMI will post 4.62 earnings per share for the current year.

Insiders Place Their Bets

In other NMI news, Director Michael Curry Montgomery sold 1,875 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $38.05, for a total transaction of $71,343.75. Following the sale, the director now owns 66,068 shares in the company, valued at $2,513,887.40. This represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adam Pollitzer sold 57,166 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $36.54, for a total value of $2,088,845.64. Following the sale, the chief executive officer now owns 329,465 shares in the company, valued at approximately $12,038,651.10. This represents a 14.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,152 shares of company stock worth $3,358,017 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On NMI

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of NMI by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 7,158,877 shares of the financial services provider’s stock worth $263,160,000 after buying an additional 39,503 shares in the last quarter. American Century Companies Inc. raised its position in shares of NMI by 9.0% in the first quarter. American Century Companies Inc. now owns 2,133,945 shares of the financial services provider’s stock worth $76,929,000 after buying an additional 176,766 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of NMI by 70.9% in the first quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider’s stock worth $73,341,000 after buying an additional 844,037 shares in the last quarter. Millennium Management LLC raised its position in shares of NMI by 209.9% in the first quarter. Millennium Management LLC now owns 1,432,950 shares of the financial services provider’s stock worth $51,658,000 after buying an additional 970,551 shares in the last quarter. Finally, Donald Smith & CO. Inc. raised its position in shares of NMI by 34.8% in the fourth quarter. Donald Smith & CO. Inc. now owns 1,307,868 shares of the financial services provider’s stock worth $48,077,000 after buying an additional 337,996 shares in the last quarter. Hedge funds and other institutional investors 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.