NMI Holdings Inc (NASDAQ:NMIH) Receives $42.33 Consensus Target Price from Brokerages

Key Points

• NMI Holdings Inc has received a consensus rating of "Moderate Buy" from six analysts, with a twelve-month price objective averaging $42.33.
• Director Steven Scheid sold nearly 20,000 shares at an average price of $39.31, reducing his position by over 20% to a total of approximately $3.1 million in holdings.
• Institutional investors hold 94.12% of the company's stock, indicating strong backing from large financial entities.

Shares of NMI Holdings Inc (NASDAQ:NMIH - Get Free Report) have been given an average rating of "Moderate Buy" by the six analysts that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $42.3333.

Several equities research analysts recently issued reports on the company. Barclays increased their price objective on NMI from $41.00 to $42.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Wall Street Zen lowered NMI from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. JPMorgan Chase & Co. boosted their price objective on NMI from $41.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, Keefe, Bruyette & Woods downgraded NMI from an "outperform" rating to a "market perform" rating and boosted their target price for the stock from $42.00 to $43.00 in a research report on Monday, July 7th.

Insider Buying and Selling at NMI

In other news, Director Steven Scheid sold 19,926 shares of NMI stock in a transaction dated 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 in the company, valued at $3,103,917.60. The trade was a 20.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On NMI

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. increased its position in shares of NMI by 18.2% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,800 shares of the financial services provider's stock worth $281,000 after purchasing an additional 1,200 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of NMI by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 462,641 shares of the financial services provider's stock worth $16,678,000 after purchasing an additional 10,377 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of NMI by 90.8% during the 1st 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 during the last quarter. Entropy Technologies LP boosted its stake in shares of NMI by 136.9% during the 1st quarter. Entropy Technologies LP now owns 18,688 shares of the financial services provider's stock worth $674,000 after acquiring an additional 10,800 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of 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 worth $696,000 after acquiring an additional 6,659 shares during the period. Institutional investors and hedge funds own 94.12% of the company's stock.

NMI Stock Performance

NASDAQ NMIH traded up $0.07 during trading hours on Friday, hitting $39.46. The company had a trading volume of 1,027,385 shares, compared to its average volume of 336,451. The firm has a market cap of $3.06 billion, a P/E ratio of 8.38, a price-to-earnings-growth ratio of 1.14 and a beta of 0.55. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17. NMI has a fifty-two week low of $31.90 and a fifty-two week high of $43.20. The business has a fifty day simple moving average of $38.86 and a 200-day simple moving average of $37.94.

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

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.