NMI (NASDAQ:NMIH - Free Report) had its price target raised by JPMorgan Chase & Co. from $41.00 to $44.00 in a research note released on Friday morning,Benzinga reports. They currently have an overweight rating on the financial services provider's stock.
A number of other analysts also recently issued reports on the company. Wall Street Zen raised NMI from a "hold" rating to a "buy" rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods downgraded NMI from an "outperform" rating to a "market perform" rating and lifted their target price for the company from $42.00 to $43.00 in a research report on Monday, July 7th. Barclays lifted their target price on NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Compass Point reaffirmed a "buy" rating and issued a $37.00 target price (up previously from $34.00) on shares of NMI in a research report on Friday, May 23rd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $43.00.
Read Our Latest Report on NMI
NMI Stock Up 0.7%
Shares of NMI stock traded up $0.28 during trading on Friday, reaching $38.18. The stock had a trading volume of 511,099 shares, compared to its average volume of 558,868. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 8.25, a P/E/G ratio of 1.28 and a beta of 0.55. The stock has a fifty day moving average price of $39.74 and a two-hundred day moving average price of $37.18. NMI has a 52 week low of $31.90 and a 52 week high of $43.20. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.18.
NMI (NASDAQ:NMIH - Get Free Report) last released its earnings results on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.18. The business had revenue of $173.25 million for the quarter, compared to the consensus estimate of $169.04 million. NMI had a return on equity of 17.27% and a net margin of 55.93%. NMI's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.08 earnings per share. Sell-side analysts predict that NMI will post 4.62 EPS for the current fiscal year.
Insider Transactions at NMI
In other NMI news, Director Michael Curry Montgomery sold 1,875 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $38.05, for a total value of $71,343.75. Following the sale, the director owned 66,068 shares in the company, valued at $2,513,887.40. This represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam Pollitzer sold 57,166 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $36.54, for a total value of $2,088,845.64. Following the completion of the sale, the chief executive officer owned 329,465 shares in the company, valued at $12,038,651.10. This represents a 14.79% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 113,697 shares of company stock valued at $4,210,337. Company insiders own 3.00% of the company's stock.
Hedge Funds Weigh In On NMI
A number of large investors have recently made changes to their positions in NMIH. Nuveen LLC bought a new position in shares of NMI during the first quarter worth approximately $44,886,000. Millennium Management LLC increased its stake in shares of NMI by 209.9% during the first quarter. Millennium Management LLC now owns 1,432,950 shares of the financial services provider's stock worth $51,658,000 after purchasing an additional 970,551 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of NMI by 70.9% during the first quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider's stock worth $73,341,000 after purchasing an additional 844,037 shares during the period. Norges Bank bought a new position in shares of NMI during the fourth quarter worth approximately $13,174,000. Finally, Raymond James Financial Inc. acquired a new stake in NMI during the fourth quarter worth approximately $13,136,000. Institutional investors own 94.12% of the company's stock.
NMI Company Profile
(
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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.
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