NMI (NASDAQ:NMIH) Given New $44.00 Price Target at JPMorgan Chase & Co.

NMI (NASDAQ:NMIH - Get Free Report) had its target price boosted by investment analysts at JPMorgan Chase & Co. from $41.00 to $44.00 in a report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 16.06% from the company's current price.

Other analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of NMI from a "hold" rating to a "buy" rating in a research note on Monday, May 5th. Compass Point reissued a "buy" rating and issued a $37.00 target price (up previously from $34.00) on shares of NMI in a research note on Friday, May 23rd. Keefe, Bruyette & Woods cut shares of NMI from an "outperform" rating to a "market perform" rating and upped their target price for the company from $42.00 to $43.00 in a research note on Monday. Finally, Barclays upped their target price on shares of NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $43.00.

NMI Stock Performance

Shares of NMI stock traded down $0.68 on Friday, reaching $37.91. The stock had a trading volume of 266,633 shares, compared to its average volume of 557,674. The business's 50-day moving average price is $39.74 and its two-hundred day moving average price is $37.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.74 and a current ratio of 0.74. NMI has a fifty-two week low of $31.90 and a fifty-two week high of $43.20. The stock has a market cap of $2.96 billion, a P/E ratio of 8.17, a price-to-earnings-growth ratio of 1.35 and a beta of 0.55.

NMI (NASDAQ:NMIH - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.18. NMI had a net margin of 55.93% and a return on equity of 17.27%. The business had revenue of $173.25 million during the quarter, compared to analysts' expectations of $169.04 million. During the same period in the previous year, the company earned $1.08 earnings per share. NMI's revenue for the quarter was up 10.8% on a year-over-year basis. On average, sell-side analysts forecast that NMI will post 4.62 EPS for the current year.

Insider Buying and Selling

In other news, insider William J. Leatherberry sold 13,111 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $35.56, for a total transaction of $466,227.16. Following the completion of the sale, the insider owned 163,796 shares in the company, valued at approximately $5,824,585.76. This trade represents a 7.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert Owen Smith sold 20,000 shares of NMI stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $36.58, for a total transaction of $731,600.00. Following the completion of the sale, the executive vice president owned 84,566 shares of the company's stock, valued at $3,093,424.28. This trade represents a 19.13% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,697 shares of company stock worth $4,210,337. Corporate insiders own 3.00% of the company's stock.

Hedge Funds Weigh In On NMI

Several hedge funds and other institutional investors have recently made changes to their positions in NMIH. Sound Income Strategies LLC bought a new stake in shares of NMI in the 1st quarter valued at $25,000. Opal Wealth Advisors LLC bought a new stake in shares of NMI in the 1st quarter valued at $33,000. Neo Ivy Capital Management bought a new stake in shares of NMI in the 1st quarter valued at $47,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of NMI in the 1st quarter valued at $48,000. Finally, Quarry LP boosted its stake in shares of NMI by 89.3% in the 1st quarter. Quarry LP now owns 1,482 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 699 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.

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.

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