NMI (NASDAQ:NMIH) Given New $42.00 Price Target at Barclays

NMI (NASDAQ:NMIH - Free Report) had its target price upped by Barclays from $41.00 to $42.00 in a report released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the financial services provider's stock.

A number of other analysts also recently commented on the company. Wall Street Zen upgraded NMI from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. JPMorgan Chase & Co. reduced their price target on NMI from $42.00 to $41.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Keefe, Bruyette & Woods cut NMI from an "outperform" rating to a "market perform" rating and upped their price target for the stock from $42.00 to $43.00 in a report on Monday. Finally, Compass Point reissued a "buy" rating and set a $37.00 target price (up previously from $34.00) on shares of NMI in a report on Friday, May 23rd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, NMI presently has an average rating of "Moderate Buy" and a consensus price target of $42.57.

NMI Price Performance

Shares of NASDAQ:NMIH traded down $0.22 during trading on Tuesday, hitting $40.97. 467,325 shares of the company's stock were exchanged, compared to its average volume of 557,193. The business's 50-day simple moving average is $39.62 and its 200 day simple moving average is $37.14. NMI has a 52-week low of $31.90 and a 52-week high of $43.20. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 8.85, a PEG ratio of 1.39 and a beta of 0.55. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.74 and a quick ratio of 0.74.

NMI (NASDAQ:NMIH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.28 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.18. NMI had a return on equity of 17.27% and a net margin of 55.93%. The company had revenue of $173.25 million during the quarter, compared to analyst estimates of $169.04 million. During the same period in the prior year, the company earned $1.08 earnings per share. The firm's revenue was up 10.8% on a year-over-year basis. As a group, equities analysts predict that NMI will post 4.62 EPS for the current year.

Insider Buying and Selling

In other NMI news, CEO Adam Pollitzer sold 57,166 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $36.54, for a total transaction of $2,088,845.64. Following the completion of the transaction, the chief executive officer owned 329,465 shares in the company, valued at approximately $12,038,651.10. This represents a 14.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Bradley M. Shuster sold 21,545 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $39.56, for a total transaction of $852,320.20. Following the sale, the chairman directly owned 409,792 shares of the company's stock, valued at approximately $16,211,371.52. This trade represents a 4.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 113,697 shares of company stock valued at $4,210,337 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NMI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of NMI by 18.2% in the 1st 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 during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in NMI by 90.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,543 shares of the financial services provider's stock valued at $416,000 after acquiring an additional 5,492 shares during the period. SG Americas Securities LLC acquired a new position in NMI in the first quarter valued at about $530,000. GAMMA Investing LLC lifted its position in shares of NMI by 7,260.6% during the first quarter. GAMMA Investing LLC now owns 56,382 shares of the financial services provider's stock worth $2,033,000 after purchasing an additional 55,616 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of NMI by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,075,428 shares of the financial services provider's stock worth $39,533,000 after purchasing an additional 11,347 shares in the last quarter. Institutional investors and hedge funds 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.