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

NMI Holdings, Inc. (NASDAQ:NMIH) has received a consensus rating of “Moderate Buy” from the eight analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $34.44.

NMIH has been the topic of several recent research reports. Truist Financial raised their price target on shares of NMI from $34.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, February 15th. Keefe, Bruyette & Woods lifted their target price on shares of NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. lifted their target price on shares of NMI from $34.00 to $35.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. Royal Bank of Canada lifted their target price on shares of NMI from $31.00 to $33.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 15th. Finally, StockNews.com cut shares of NMI from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st.

NMI Price Performance

Shares of NASDAQ NMIH opened at $30.03 on Friday. NMI has a fifty-two week low of $22.22 and a fifty-two week high of $32.50. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 7.82, a PEG ratio of 1.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.73 and a current ratio of 0.73. The firm’s 50-day simple moving average is $30.23 and its 200 day simple moving average is $29.25.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $1.01 earnings per share for the quarter, beating 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 business had revenue of $151.38 million for the quarter, compared to analysts’ expectations of $131.70 million. During the same quarter last year, the firm earned $0.86 EPS. The firm’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, research analysts anticipate that NMI will post 4.05 earnings per share for the current fiscal year.

Insider Transactions at NMI

In other news, Chairman Bradley M. Shuster sold 12,836 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $30.53, for a total transaction of $391,883.08. Following the completion of the sale, the chairman now owns 427,271 shares in the company, valued at approximately $13,044,583.63. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Chairman Bradley M. Shuster sold 12,836 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $30.53, for a total transaction of $391,883.08. Following the completion of the sale, the chairman now owns 427,271 shares in the company, valued at approximately $13,044,583.63. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Bradley M. Shuster sold 6,559 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $29.81, for a total transaction of $195,523.79. Following the sale, the chairman now owns 453,298 shares of the company’s stock, valued at approximately $13,512,813.38. The disclosure for this sale can be found here. Insiders sold a total of 145,158 shares of company stock worth $4,395,582 in the last quarter. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NMIH. Norges Bank purchased a new position in NMI in the 4th quarter valued at approximately $18,362,000. State Street Corp grew its stake in NMI by 15.8% in the 1st quarter. State Street Corp now owns 4,053,585 shares of the financial services provider’s stock valued at $83,585,000 after buying an additional 551,924 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in NMI by 10.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,441,230 shares of the financial services provider’s stock valued at $99,171,000 after buying an additional 417,095 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in NMI by 88.1% in 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 buying an additional 402,793 shares in the last quarter. Finally, Morgan Stanley grew its stake in NMI by 40.7% in the 3rd quarter. Morgan Stanley now owns 1,022,943 shares of the financial services provider’s stock valued at $27,712,000 after buying an additional 295,742 shares in the last quarter. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

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.