NMI (NASDAQ:NMIH) PT Raised to $37.00

NMI (NASDAQ:NMIH) had its price target raised by Truist Financial from $36.00 to $37.00 in a research report sent to investors on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

A number of other research analysts have also weighed in on NMIH. StockNews.com lowered NMI from a buy rating to a hold rating in a report on Thursday, March 21st. JPMorgan Chase & Co. raised their price objective on NMI from $34.00 to $35.00 and gave the company an overweight rating in a research note on Wednesday, April 3rd. Keefe, Bruyette & Woods lifted their price objective on shares of NMI from $33.00 to $36.00 and gave the stock a market perform rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada increased their target price on shares of NMI from $31.00 to $33.00 and gave the company a sector perform rating in a report on Thursday, February 15th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $34.67.

NMI Stock Performance

Shares of NMIH stock opened at $31.65 on Wednesday. NMI has a 12 month low of $22.40 and a 12 month high of $32.66. The firm has a market capitalization of $2.55 billion, a PE ratio of 7.83, a price-to-earnings-growth ratio of 1.14 and a beta of 1.06. The firm has a fifty day simple moving average of $30.45 and a two-hundred day simple moving average of $29.47. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.21.

NMI (NASDAQ:NMIH) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $1.08 EPS for the quarter, topping the consensus estimate of $0.96 by $0.12. NMI had a net margin of 56.26% and a return on equity of 18.48%. The company had revenue of $156.25 million during the quarter, compared to the consensus estimate of $133.76 million. During the same period in the previous year, the firm posted $0.88 earnings per share. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. Analysts forecast that NMI will post 4.05 EPS for the current fiscal year.

Insider Transactions at NMI

In related news, EVP Robert Owen Smith sold 3,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $31.19, for a total transaction of $93,570.00. Following the completion of the transaction, the executive vice president now owns 82,612 shares in the company, valued at $2,576,668.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other NMI news, EVP Robert Owen Smith sold 3,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $31.19, for a total transaction of $93,570.00. Following the completion of the transaction, the executive vice president now directly owns 82,612 shares of the company’s stock, valued at $2,576,668.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Nicholas Daniel Realmuto sold 1,803 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $30.08, for a total value of $54,234.24. Following the completion of the sale, the vice president now directly owns 10,128 shares of the company’s stock, valued at $304,650.24. The disclosure for this sale can be found here. Insiders have sold 145,158 shares of company stock worth $4,395,582 in the last ninety days. Company insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On NMI

Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of NMI in the fourth quarter valued at approximately $20,006,000. Assenagon Asset Management S.A. raised its holdings in NMI by 88.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 859,955 shares of the financial services provider’s stock valued at $25,523,000 after acquiring an additional 402,793 shares during the period. Vanguard Group Inc. lifted its position in shares of NMI by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 6,809,208 shares of the financial services provider’s stock worth $202,097,000 after acquiring an additional 225,364 shares in the last quarter. Van Berkom & Associates Inc. boosted its holdings in shares of NMI by 7.3% in the third quarter. Van Berkom & Associates Inc. now owns 2,708,797 shares of the financial services provider’s stock worth $73,381,000 after acquiring an additional 185,099 shares during the period. Finally, Comerica Bank bought a new position in shares of NMI in the third quarter worth $4,914,000. 94.12% of the stock is owned by hedge funds and other institutional investors.

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.