NMI (NASDAQ:NMIH) Stock Price Target Lowered at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered NMI Holdings’ price target from $50 to $45 while maintaining an “overweight” rating, implying roughly 13% upside from the prior close.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and average price target of $48.43; five analysts rate the stock Buy and two rate it Hold.
• NMIH shares fell 0.6% to $39.78, despite the company recently exceeding quarterly earnings and revenue estimates. Insiders have sold approximately $8.8 million of stock over the past three months, while institutional investors own 94.12% of shares.

NMI (NASDAQ:NMIH - Get Free Report) had its price objective dropped by analysts at JPMorgan Chase & Co. from $50.00 to $45.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 13.12% from the stock's previous close.

Several other equities analysts have also recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $47.00 price target on shares of NMI in a research report on Monday, August 3rd. Weiss Ratings reissued a "buy (b)" rating on shares of NMI in a report on Wednesday, September 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $53.00 price objective on shares of NMI in a research report on Tuesday, August 4th. BTIG Research assumed coverage on NMI in a research note on Tuesday, September 22nd. They issued a "buy" rating and a $54.00 target price for the company. Finally, Truist Financial raised their target price on NMI from $49.00 to $51.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, NMI has a consensus rating of "Moderate Buy" and an average price target of $48.43.

NMI Stock Down 0.6%

Shares of NMIH traded down $0.23 during midday trading on Monday, reaching $39.78. 115,222 shares of the company were exchanged, compared to its average volume of 536,273. The company has a market cap of $2.99 billion, a price-to-earnings ratio of 7.83, a P/E/G ratio of 1.08 and a beta of 0.56. NMI has a 1-year low of $34.84 and a 1-year high of $46.74. The stock has a 50-day moving average price of $43.34 and a 200-day moving average price of $40.62. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.15.

NMI (NASDAQ:NMIH - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.10. NMI had a net margin of 54.10% and a return on equity of 15.13%. The company had revenue of $187.89 million during the quarter, compared to analysts' expectations of $156.26 million. During the same period in the prior year, the company posted $1.22 EPS. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. Research analysts expect that NMI will post 5.25 earnings per share for the current year.

Insider Transactions at NMI

In other NMI news, EVP Robert Smith sold 12,000 shares of the business's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $44.65, for a total transaction of $535,800.00. Following the sale, the executive vice president owned 96,381 shares in the company, valued at approximately $4,303,411.65. The trade was a 11.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Aurora Swithenbank sold 11,662 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $44.51, for a total transaction of $519,075.62. Following the sale, the executive vice president directly owned 50,734 shares of the company's stock, valued at $2,258,170.34. This represents a 18.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 196,368 shares of company stock valued at $8,800,740 over the last three months. Company insiders own 2.44% of the company's stock.

Institutional Trading of NMI

A number of hedge funds have recently made changes to their positions in NMIH. Dimensional Fund Advisors LP increased its holdings in NMI by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,351,808 shares of the financial services provider's stock valued at $163,237,000 after buying an additional 34,372 shares during the period. Bank of America Corp DE grew its holdings in shares of NMI by 22.7% in 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. Donald Smith & CO. Inc. bought a new stake in shares of NMI in the 2nd quarter worth about $36,262,000. Panagora Asset Management Inc. lifted its holdings in NMI by 4.5% during the 4th quarter. Panagora Asset Management Inc. now owns 596,249 shares of the financial services provider's stock valued at $24,321,000 after purchasing an additional 25,639 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in NMI in the second quarter valued at about $20,919,000. 94.12% of the stock is owned by hedge funds and other institutional investors.

About NMI

NMI Holdings, Inc NASDAQ: NMIH is a holding company whose principal operating subsidiary, National MI, provides private mortgage insurance in the United States. Mortgage insurance helps protect lenders and investors against losses when borrowers default on residential mortgage loans, enabling qualified borrowers to purchase homes with down payments below traditional requirements.

National MI primarily offers mortgage insurance for residential first-lien mortgages, including borrower-paid and lender-paid coverage.

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