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

Key Points

• JPMorgan raised NMI’s price target from $45 to $46 and maintained an overweight rating, implying 19.16% potential upside. Analysts’ consensus is “Moderate Buy,” with an average target of $47.88.
• NMI reported quarterly EPS of $1.23, below the $1.30 analyst consensus, while revenue of $187.55 million exceeded the $159.20 million estimate.
• NMI shares traded down 0.7% to $38.60 on Tuesday.

NMI (NASDAQ:NMIH - Get Free Report) had its target price raised by research analysts at JPMorgan Chase & Co. from $45.00 to $46.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 19.16% from the stock's current price.

Other analysts have also recently issued reports about the stock. BTIG Research initiated coverage on shares of NMI in a research note on Tuesday, September 22nd. They issued a "buy" rating and a $54.00 target price for the company. Weiss Ratings lowered shares of NMI from a "buy (b+)" rating to a "buy (b)" rating in a research note on Tuesday, November 3rd. Truist Financial raised their price target on shares of NMI from $49.00 to $51.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Barclays lowered 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 note on Friday. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $53.00 price objective on shares of NMI in a report on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, NMI presently has a consensus rating of "Moderate Buy" and an average target price of $47.88.

NMI Trading Down 0.7%

NASDAQ:NMIH traded down $0.27 during mid-day trading on Tuesday, hitting $38.60. 127,015 shares of the stock traded hands, compared to its average volume of 578,228. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 7.58, a PEG ratio of 1.44 and a beta of 0.52. NMI has a 52 week low of $35.12 and a 52 week high of $46.74. The firm's 50 day moving average is $41.90 and its two-hundred day moving average is $40.37. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.15.

NMI (NASDAQ:NMIH - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.07). The firm had revenue of $187.55 million for the quarter, compared to the consensus estimate of $159.20 million. NMI had a return on equity of 15.13% and a net margin of 54.10%. During the same period in the previous year, the company posted $1.21 EPS. On average, equities research analysts predict that NMI will post 5.26 earnings per share for the current year.

Insider Buying and Selling at NMI

In other NMI news, CEO Adam Pollitzer sold 172,706 shares of the firm's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $44.85, for a total transaction of $7,745,864.10. Following the completion of the sale, the chief executive officer owned 270,267 shares of the company's stock, valued at $12,121,474.95. This trade represents a 38.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.44% of the company's stock.

Institutional Trading of NMI

Several hedge funds have recently modified their holdings of the stock. Donald Smith & CO. Inc. acquired a new position in shares of NMI during the second quarter worth about $36,262,000. Bank of New York Mellon Corp purchased a new stake in NMI during the 2nd quarter worth approximately $20,919,000. Winmill & CO. Inc. purchased a new stake in NMI during the 2nd quarter worth approximately $16,276,000. Bank of America Corp DE increased its holdings in NMI by 22.7% during the 1st quarter. Bank of America Corp DE now owns 1,304,633 shares of the financial services provider's stock worth $48,937,000 after purchasing an additional 241,724 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of NMI in the 3rd quarter valued at approximately $6,147,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.

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.

National MI began writing mortgage insurance in 2013 and serves customers across the United States.

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