NMI (NASDAQ:NMIH) Given New $36.00 Price Target at Keefe, Bruyette & Woods

NMI (NASDAQ:NMIH - Free Report) had its target price hoisted by Keefe, Bruyette & Woods from $33.00 to $36.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a market perform rating on the financial services provider's stock.

Several other analysts also recently commented on NMIH. Truist Financial raised their price objective on shares of NMI from $34.00 to $36.00 and gave the company a buy rating in a research report on Thursday, February 15th. Royal Bank of Canada raised their price objective on shares of NMI from $31.00 to $33.00 and gave the company a sector perform rating in a research report on Thursday, February 15th. UBS Group started coverage on shares of NMI in a research report on Wednesday, December 6th. They set a buy rating and a $36.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on shares of NMI from $34.00 to $35.00 and gave the company an overweight rating in a research report on Wednesday. Finally, StockNews.com downgraded shares of NMI from a buy rating to a hold rating in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, NMI currently has a consensus rating of Moderate Buy and a consensus target price of $34.44.

NMI Stock Performance

NMIH stock traded down $1.08 on Thursday, hitting $30.77. The company had a trading volume of 811,739 shares, compared to its average volume of 562,602. NMI has a 12-month low of $21.38 and a 12-month high of $32.50. 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 stock's 50-day simple moving average is $30.46 and its 200 day simple moving average is $29.04. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 8.27, a P/E/G ratio of 1.17 and a beta of 1.06.

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

Insider Activity at NMI

In related news, EVP Robert Owen Smith sold 3,000 shares of NMI 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 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 through the SEC website. In related news, Chairman Bradley M. Shuster sold 12,836 shares of NMI 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 completion of the sale, the chairman now owns 427,271 shares in the company, valued at approximately $13,044,583.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert Owen Smith sold 3,000 shares of NMI 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 owns 82,612 shares of the company's stock, valued at approximately $2,576,668.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 145,158 shares of company stock valued at $4,395,582. Corporate insiders own 2.70% of the company's stock.

Institutional Investors Weigh In On NMI

Several large investors have recently modified their holdings of NMIH. Citigroup Inc. raised its holdings in shares of NMI by 11.0% in the 1st quarter. Citigroup Inc. now owns 75,317 shares of the financial services provider's stock valued at $1,554,000 after purchasing an additional 7,439 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of NMI by 15.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,738 shares of the financial services provider's stock valued at $118,000 after purchasing an additional 774 shares in the last quarter. Natixis Advisors L.P. bought a new stake in shares of NMI in the 1st quarter valued at about $352,000. Bank of Montreal Can raised its holdings in shares of NMI by 61.1% in the 1st quarter. Bank of Montreal Can now owns 39,481 shares of the financial services provider's stock valued at $848,000 after purchasing an additional 14,975 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in shares of NMI by 55.1% in the 1st quarter. MetLife Investment Management LLC now owns 46,887 shares of the financial services provider's stock valued at $967,000 after purchasing an additional 16,650 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.