JPMorgan Chase & Co. Issues Positive Forecast for NMI (NASDAQ:NMIH) Stock Price

Key Points

• JPMorgan Chase & Co. raised its price target on NMI Holdings to $48 from $43 and kept an overweight rating, implying about 16.4% upside from the current share price.
• NMI shares were up slightly to $41.24, and the stock has traded near its 52-week high of $42.28 while remaining below the new JPMorgan target.
• The company recently posted better-than-expected quarterly results, with EPS of $1.28 beating estimates and revenue of $183.47 million topping forecasts; analysts now expect full-year EPS of 5.12.

NMI (NASDAQ:NMIH - Get Free Report) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $43.00 to $48.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 16.40% from the company's current price.

NMIH has been the subject of a number of other research reports. Weiss Ratings upgraded NMI from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, June 12th. Barclays cut their price target on NMI from $44.00 to $43.00 and set an "equal weight" rating on the stock in a report on Monday, April 6th. Royal Bank Of Canada assumed coverage on NMI in a research report on Friday, May 22nd. They set an "outperform" rating and a $46.00 price objective for the company. UBS Group set a $46.00 price objective on NMI in a report on Friday, May 22nd. Finally, Keefe, Bruyette & Woods lifted their target price on NMI from $46.00 to $47.00 and gave the company an "outperform" rating in a research report on Thursday, June 25th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.00.

NMI Stock Up 0.2%

Shares of NMIH traded up $0.08 on Monday, hitting $41.24. The company's stock had a trading volume of 77,085 shares, compared to its average volume of 520,240. The firm's fifty day moving average price is $38.21 and its 200-day moving average price is $38.79. NMI has a fifty-two week low of $34.84 and a fifty-two week high of $42.28. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 8.40, a P/E/G ratio of 1.43 and a beta of 0.54.

NMI (NASDAQ:NMIH - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.06. NMI had a net margin of 53.82% and a return on equity of 15.18%. The company had revenue of $183.47 million during the quarter, compared to the consensus estimate of $153.99 million. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The firm's revenue was up 5.9% compared to the same quarter last year. On average, equities research analysts expect that NMI will post 5.12 EPS for the current year.

Insider Activity

In related news, Director Michael Curry Montgomery sold 1,554 shares of NMI stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $37.90, for a total value of $58,896.60. Following the sale, the director owned 69,026 shares of the company's stock, valued at approximately $2,616,085.40. The trade was a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.44% of the company's stock.

Institutional Investors Weigh In On NMI

Institutional investors and hedge funds have recently made changes to their positions in the stock. Allworth Financial LP raised its position in NMI by 196.0% during the third quarter. Allworth Financial LP now owns 660 shares of the financial services provider's stock worth $25,000 after acquiring an additional 437 shares in the last quarter. Maseco LLP acquired a new stake in NMI in the 4th quarter valued at about $31,000. IFP Advisors Inc grew its holdings in NMI by 189.5% during the fourth quarter. IFP Advisors Inc now owns 796 shares of the financial services provider's stock worth $32,000 after purchasing an additional 521 shares during the period. Pacer Advisors Inc. increased its position in NMI by 58.7% during the first quarter. Pacer Advisors Inc. now owns 1,006 shares of the financial services provider's stock worth $38,000 after buying an additional 372 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in NMI by 34.0% during the first quarter. Bessemer Group Inc. now owns 1,071 shares of the financial services provider's stock worth $40,000 after buying an additional 272 shares during the last quarter. Institutional investors own 94.12% of the company's stock.

NMI Company Profile

NMI Holdings, Inc NASDAQ: NMIH is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher‐loan‐to‐value mortgages, the company supports homebuyers' access to financing and contributes to overall market liquidity.

Beyond its core mortgage insurance products, NMI offers credit risk‐sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.