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

Key Points

• NMI Holdings Inc has received a consensus recommendation of "Moderate Buy" from six research firms, with three holding the stock and three issuing buy ratings. The average 1-year target price is approximately $42.33.
• In its latest quarterly results, NMI reported an earnings per share (EPS) of $1.22, surpassing expectations, though revenue was below estimates at $149.07 million, reflecting a 7.2% year-over-year increase.
• Insider trading activity included the sale of 21,545 shares by Chairman Bradley M. Shuster, which represents a 4.99% decrease in his stock position, while 94.12% of the stock is owned by institutional investors.

NMI Holdings Inc (NASDAQ:NMIH - Get Free Report) has been given a consensus rating of "Moderate Buy" by the six research firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $42.3333.

Several analysts recently weighed in on NMIH shares. Barclays lifted their price target on shares of NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Wall Street Zen cut shares of NMI from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Compass Point reiterated a "buy" rating and issued a $37.00 price target (up previously from $34.00) on shares of NMI in a report on Friday, May 23rd. Keefe, Bruyette & Woods cut shares of NMI from an "outperform" rating to a "market perform" rating and lifted their price target for the company from $42.00 to $43.00 in a report on Monday, July 7th. Finally, JPMorgan Chase & Co. lifted their price target on shares of NMI from $41.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, July 11th.

Insider Activity at NMI

In other news, Chairman Bradley M. Shuster sold 21,545 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $39.56, for a total transaction of $852,320.20. Following the sale, the chairman owned 409,792 shares in the company, valued at approximately $16,211,371.52. The trade was a 4.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.00% of the company's stock.

Institutional Trading of NMI

Hedge funds have recently modified their holdings of the business. Sound Income Strategies LLC bought a new stake in shares of NMI during the 1st quarter valued at $25,000. Maseco LLP bought a new stake in shares of NMI during the 2nd quarter valued at $32,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of NMI during the 2nd quarter valued at $36,000. Opal Wealth Advisors LLC bought a new stake in shares of NMI during the 1st quarter valued at $33,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of NMI during the 2nd quarter valued at $49,000. Institutional investors own 94.12% of the company's stock.

NMI Trading Up 0.1%

Shares of NASDAQ NMIH traded up $0.02 during mid-day trading on Wednesday, hitting $39.35. The stock had a trading volume of 224,628 shares, compared to its average volume of 339,671. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74. NMI has a 1 year low of $31.90 and a 1 year high of $43.20. The business has a 50 day moving average price of $39.42 and a two-hundred day moving average price of $37.57. The firm has a market cap of $3.05 billion, a P/E ratio of 8.35, a price-to-earnings-growth ratio of 1.14 and a beta of 0.55.

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

About NMI

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.