JPMorgan Chase & Co. Lowers NMI (NASDAQ:NMIH) Price Target to $43.00

Key Points

• JPMorgan Chase & Co. has reduced the price target for NMI (NASDAQ:NMIH) from $44.00 to $43.00, indicating a potential upside of 18.13% from its previous closing price.
• While NMI has received varied ratings from several brokerages, the consensus remains a "Moderate Buy" with an average target price of $42.33.
• NMI's recent quarterly earnings report showed an EPS of $1.22, surpassing the expectation of $1.16, despite revenue falling short of projections.

NMI (NASDAQ:NMIH - Get Free Report) had its price objective lowered by investment analysts at JPMorgan Chase & Co. from $44.00 to $43.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 18.13% from the company's previous close.

Several other brokerages have also recently issued reports on NMIH. Keefe, Bruyette & Woods cut shares of NMI from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from $42.00 to $43.00 in a report on Monday, July 7th. Weiss Ratings restated a "buy (b)" rating on shares of NMI in a research note on Saturday, September 27th. Wall Street Zen lowered shares of NMI from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Barclays reiterated a "cautious" rating on shares of NMI in a research report on Monday. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, NMI presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.33.

NMI Stock Down 0.9%

NASDAQ NMIH opened at $36.40 on Tuesday. NMI has a 1 year low of $31.90 and a 1 year high of $43.20. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.74 and a quick ratio of 0.74. The business's 50-day moving average is $38.91 and its 200 day moving average is $38.19. The stock has a market capitalization of $2.82 billion, a PE ratio of 7.73, a PEG ratio of 1.06 and a beta of 0.56.

NMI (NASDAQ:NMIH - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.06. NMI had a net margin of 55.57% and a return on equity of 16.51%. The company had revenue of $149.07 million for the quarter, compared to analysts' expectations of $173.39 million. During the same quarter in the previous year, the company earned $1.20 earnings per share. NMI's quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts forecast that NMI will post 4.62 earnings per share for the current year.

Insider Buying and Selling at NMI

In other news, Director Steven Scheid sold 19,926 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $39.31, for a total transaction of $783,291.06. Following the transaction, the director owned 78,960 shares of the company's stock, valued at approximately $3,103,917.60. This represents a 20.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On NMI

Several large investors have recently modified their holdings of the business. Sumitomo Mitsui Trust Group Inc. boosted its position in NMI by 18.2% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,800 shares of the financial services provider's stock valued at $281,000 after purchasing an additional 1,200 shares in the last quarter. Principal Financial Group Inc. boosted its stake in NMI by 2.3% in the first quarter. Principal Financial Group Inc. now owns 462,641 shares of the financial services provider's stock valued at $16,678,000 after acquiring an additional 10,377 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of NMI by 90.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,543 shares of the financial services provider's stock worth $416,000 after purchasing an additional 5,492 shares in the last quarter. Entropy Technologies LP boosted its position in shares of NMI by 136.9% in the 1st quarter. Entropy Technologies LP now owns 18,688 shares of the financial services provider's stock worth $674,000 after purchasing an additional 10,800 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in NMI by 53.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,012 shares of the financial services provider's stock valued at $696,000 after buying an additional 6,659 shares in the last quarter. Institutional investors own 94.12% of the company's stock.

NMI Company Profile

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.

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