NMI (NASDAQ:NMIH) PT Raised to $36.00

NMI (NASDAQ:NMIH) had its price objective hoisted by research analysts at Compass Point from $33.00 to $36.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Compass Point’s price target would indicate a potential upside of 7.14% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Truist Financial raised their price objective on NMI from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. StockNews.com raised NMI from a “hold” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on NMI from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Royal Bank of Canada raised their price objective on NMI from $31.00 to $33.00 and gave the company a “sector perform” rating in a report on Thursday, February 15th. Finally, Keefe, Bruyette & Woods raised their price objective on NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, NMI presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.22.

NMI Stock Performance

NASDAQ:NMIH traded up $0.19 during mid-day trading on Tuesday, reaching $33.60. The company’s stock had a trading volume of 53,946 shares, compared to its average volume of 546,660. The firm’s fifty day moving average price is $30.66 and its two-hundred day moving average price is $29.59. The stock has a market cap of $2.70 billion, a P/E ratio of 8.33, a PEG ratio of 1.17 and a beta of 1.06. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. NMI has a 12-month low of $23.63 and a 12-month high of $33.81.

NMI (NASDAQ:NMIH) last released its earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.12. NMI had a return on equity of 18.09% and a net margin of 56.26%. The business had revenue of $156.25 million for the quarter, compared to analyst estimates of $133.76 million. During the same quarter last year, the firm posted $0.88 earnings per share. The business’s revenue was up 14.2% compared to the same quarter last year. On average, equities analysts forecast that NMI will post 4.18 EPS for the current fiscal year.

Insider Buying and Selling at NMI

In related news, Chairman Bradley M. Shuster sold 6,559 shares of the company’s stock in a transaction 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 transaction, the chairman now directly owns 453,298 shares of the company’s stock, valued at $13,512,813.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Bradley M. Shuster sold 6,559 shares of the 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 completion of the sale, the chairman now owns 453,298 shares in the company, valued at approximately $13,512,813.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Bradley M. Shuster sold 12,836 shares of the stock in a transaction that occurred on 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 $13,044,583.63. The disclosure for this sale can be found here. Insiders have sold 145,158 shares of company stock valued at $4,395,582 in the last quarter. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of NMI

A number of institutional investors have recently modified their holdings of NMIH. Raymond James & Associates boosted its stake in shares of NMI by 4.5% in the third quarter. Raymond James & Associates now owns 120,880 shares of the financial services provider’s stock valued at $3,275,000 after buying an additional 5,212 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in NMI by 15.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,029 shares of the financial services provider’s stock valued at $488,000 after buying an additional 2,447 shares in the last quarter. Assetmark Inc. increased its position in shares of NMI by 17,540.3% during the 3rd quarter. Assetmark Inc. now owns 65,622 shares of the financial services provider’s stock valued at $1,778,000 after purchasing an additional 65,250 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in NMI by 33.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,677 shares of the financial services provider’s stock valued at $262,000 after buying an additional 2,421 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of NMI in the 3rd quarter worth about $211,000. 94.12% of the stock is currently owned by 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.