NMI (NASDAQ:NMIH) Price Target Raised to $35.00 at JPMorgan Chase & Co.

NMI (NASDAQ:NMIH - Free Report) had its target price raised by JPMorgan Chase & Co. from $34.00 to $35.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider's stock.

Other equities analysts also recently issued reports about the company. UBS Group assumed coverage on NMI in a research report on Wednesday, December 6th. They issued a buy rating and a $36.00 target price on the stock. StockNews.com downgraded NMI from a buy rating to a hold rating in a research report on Thursday, March 21st. Royal Bank of Canada increased their price target on NMI from $31.00 to $33.00 and gave the stock a sector perform rating in a research report on Thursday, February 15th. Finally, Truist Financial increased their price target on NMI from $34.00 to $36.00 and gave the stock a buy rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $34.25.

NMI Stock Up 0.9 %

Shares of NMIH traded up $0.28 during midday trading on Wednesday, hitting $31.85. 1,324,027 shares of the company's stock traded hands, compared to its average volume of 558,711. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.21. The firm's fifty day moving average is $30.46 and its 200-day moving average is $29.04. NMI has a 1 year low of $21.38 and a 1 year high of $32.50. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 8.29, a price-to-earnings-growth ratio of 1.18 and a beta of 1.06.

NMI (NASDAQ:NMIH - Get Free Report) last released its earnings results on Wednesday, February 14th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.06. NMI had a return on equity of 17.97% and a net margin of 55.63%. The firm had revenue of $151.38 million for the quarter, compared to the consensus estimate of $131.70 million. During the same period in the prior year, the firm earned $0.86 EPS. The firm's revenue was up 13.7% on a year-over-year basis. As a group, sell-side analysts anticipate that NMI will post 4.04 earnings per share for the current year.

Insider Transactions at NMI

In other news, EVP Robert Owen Smith sold 3,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $31.19, for a total transaction of $93,570.00. Following the sale, the executive vice president now directly owns 82,612 shares of the company's stock, valued at approximately $2,576,668.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Chairman Bradley M. Shuster sold 12,836 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $30.53, for a total transaction of $391,883.08. Following the sale, the chairman now directly owns 427,271 shares of the company's stock, valued at approximately $13,044,583.63. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Robert Owen Smith sold 3,000 shares of the firm's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $31.19, for a total transaction of $93,570.00. Following the completion of the transaction, the executive vice president now directly owns 82,612 shares in the company, valued at $2,576,668.28. The disclosure for this sale can be found here. Insiders have sold a total of 145,158 shares of company stock valued at $4,395,582 in the last ninety days. 2.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC lifted its stake in NMI by 6.1% in the 4th quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider's stock valued at $180,000 after buying an additional 350 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in NMI by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 15,139 shares of the financial services provider's stock valued at $391,000 after buying an additional 381 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in NMI by 0.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 48,423 shares of the financial services provider's stock valued at $1,437,000 after buying an additional 388 shares in the last quarter. Hsbc Holdings PLC lifted its stake in NMI by 5.0% in the 3rd quarter. Hsbc Holdings PLC now owns 11,765 shares of the financial services provider's stock valued at $323,000 after buying an additional 565 shares in the last quarter. Finally, Advisor Group Holdings Inc. lifted its stake in NMI by 20.2% in the 4th quarter. Advisor Group Holdings Inc. now owns 3,665 shares of the financial services provider's stock valued at $77,000 after buying an additional 617 shares in the last quarter. 94.12% of the stock is owned by hedge funds and other institutional investors.

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.