Brokerages Set NMI Holdings, Inc. (NASDAQ:NMIH) Price Target at $34.44

NMI Holdings, Inc. (NASDAQ:NMIH) has earned an average recommendation of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $34.44.

Several research analysts have recently issued reports on NMIH shares. Keefe, Bruyette & Woods raised their target price 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. Truist Financial lifted their price target on shares of NMI from $34.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, February 15th. JPMorgan Chase & Co. lifted their price target on shares of NMI from $34.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. Royal Bank of Canada lifted their price target 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. Finally, StockNews.com cut shares of NMI from a “buy” rating to a “hold” rating in a report on Thursday, March 21st.

NMI Price Performance

Shares of NMI stock opened at $29.64 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.73 and a current ratio of 0.73. NMI has a 52-week low of $22.22 and a 52-week high of $32.50. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 7.72, a P/E/G ratio of 1.11 and a beta of 1.06. The company’s 50 day moving average price is $30.27 and its 200-day moving average price is $29.18.

NMI (NASDAQ:NMIH) last issued its earnings results on Wednesday, February 14th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.06. NMI had a net margin of 55.63% and a return on equity of 17.97%. The firm had revenue of $151.38 million for the quarter, compared to analysts’ expectations of $131.70 million. During the same quarter last year, the business earned $0.86 earnings per share. The business’s revenue was up 13.7% on a year-over-year basis. Equities research analysts forecast that NMI will post 4.05 EPS for the current year.

Insider Buying and Selling at NMI

In other NMI news, Chairman Bradley M. Shuster sold 12,836 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $30.53, for a total transaction of $391,883.08. Following the completion of the transaction, the chairman now owns 427,271 shares of the company’s stock, valued at $13,044,583.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Bradley M. Shuster sold 6,559 shares of NMI stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $29.81, for a total value of $195,523.79. Following the completion of the transaction, the chairman now owns 453,298 shares of the company’s stock, valued at approximately $13,512,813.38. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Bradley M. Shuster sold 12,836 shares of NMI stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $30.53, for a total value of $391,883.08. Following the completion of the transaction, the chairman now directly owns 427,271 shares of the company’s stock, valued at approximately $13,044,583.63. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,158 shares of company stock valued at $4,395,582. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NMI

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of NMI by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 6,809,208 shares of the financial services provider’s stock worth $202,097,000 after purchasing an additional 225,364 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of NMI by 5.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 54,582 shares of the financial services provider’s stock worth $1,620,000 after purchasing an additional 2,580 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of NMI in the 4th quarter worth about $697,000. Chartwell Investment Partners LLC purchased a new position in shares of NMI in the 4th quarter worth about $881,000. Finally, Barclays PLC raised its position in shares of NMI by 153.8% in the 4th quarter. Barclays PLC now owns 163,026 shares of the financial services provider’s stock worth $4,839,000 after purchasing an additional 98,791 shares during the last quarter. Hedge funds and other institutional investors 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.