Brokerages Set NMI Holdings Inc (NASDAQ:NMIH) Target Price at $41.20

NMI Holdings Inc (NASDAQ:NMIH) has received an average recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $41.20.

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of NMI from $43.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NMI in a research report on Wednesday, October 8th. Finally, Barclays reiterated a “cautious” rating on shares of NMI in a report on Monday, October 6th.

Insider Buying and Selling at NMI

In other news, Director Steven Scheid sold 19,926 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $39.31, for a total transaction of $783,291.06. Following the completion of the sale, the director directly owned 78,960 shares of the company’s stock, valued at $3,103,917.60. The trade was a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael J. Embler sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $36.90, for a total transaction of $738,000.00. Following the completion of the sale, the director owned 46,046 shares in the company, valued at $1,699,097.40. This represents a 30.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.00% of the company’s stock.

Institutional Trading of NMI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its holdings in shares of NMI by 196.0% in the third quarter. Allworth Financial LP now owns 660 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 437 shares in the last quarter. Maseco LLP purchased a new stake in NMI in the 2nd quarter valued at $32,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in NMI during the 2nd quarter valued at $36,000. Harbor Capital Advisors Inc. boosted its holdings in NMI by 51.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 856 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 291 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of NMI in the 2nd quarter worth $49,000. 94.12% of the stock is owned by institutional investors.

NMI Price Performance

NMI stock opened at $37.51 on Friday. The stock’s 50 day moving average price is $36.92 and its two-hundred day moving average price is $38.59. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 7.85, a PEG ratio of 1.16 and a beta of 0.66. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86. NMI has a 52-week low of $31.90 and a 52-week high of $43.20.

NMI (NASDAQ:NMIH) last released its earnings results on Tuesday, November 4th. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.21. The company had revenue of $171.56 million for the quarter, compared to the consensus estimate of $177.01 million. NMI had a net margin of 55.02% and a return on equity of 16.08%. NMI’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.15 EPS. On average, equities analysts predict that NMI will post 4.62 earnings per share for the current 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.