JPMorgan Chase & Co. Boosts NMI (NASDAQ:NMIH) Price Target to $36.00

NMI (NASDAQ:NMIH) had its price target raised by JPMorgan Chase & Co. from $35.00 to $36.00 in a research note released on Wednesday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other research analysts also recently weighed in on the company. Truist Financial upped their target price on NMI from $36.00 to $37.00 and gave the stock a buy rating in a report on Wednesday. Royal Bank of Canada upped their target price on NMI from $31.00 to $33.00 and gave the stock a sector perform rating in a report on Thursday, February 15th. Keefe, Bruyette & Woods boosted their price target on NMI from $33.00 to $36.00 and gave the stock a market perform rating in a research report on Thursday, April 4th. Finally, StockNews.com cut NMI from a buy rating to a hold rating in a research report on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $34.67.

NMI Stock Up 0.1 %

Shares of NASDAQ:NMIH opened at $32.51 on Wednesday. NMI has a 1 year low of $22.49 and a 1 year high of $32.80. The company has a market cap of $2.61 billion, a PE ratio of 8.05, a P/E/G ratio of 1.17 and a beta of 1.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.89 and a quick ratio of 0.73. The stock’s 50-day moving average is $30.57 and its 200 day moving average is $29.52.

NMI (NASDAQ:NMIH) last posted 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 firm had revenue of $156.25 million for the quarter, compared to the consensus estimate of $133.76 million. During the same quarter in the prior year, the business earned $0.88 EPS. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. Sell-side analysts anticipate that NMI will post 4.18 EPS for the current year.

Insider Buying and Selling at NMI

In other NMI news, VP Nicholas Daniel Realmuto sold 1,249 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $30.23, for a total transaction of $37,757.27. Following the completion of the transaction, the vice president now owns 10,455 shares of the company’s stock, valued at approximately $316,054.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NMI news, Chairman Bradley M. Shuster sold 6,559 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $29.81, for a total value of $195,523.79. Following the completion of the sale, the chairman now directly owns 453,298 shares in the company, valued at $13,512,813.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Nicholas Daniel Realmuto sold 1,249 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $30.23, for a total transaction of $37,757.27. Following the completion of the sale, the vice president now owns 10,455 shares of the company’s stock, valued at $316,054.65. The disclosure for this sale can be found here. Insiders sold 145,158 shares of company stock valued at $4,395,582 in the last 90 days. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On NMI

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake 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 buying an additional 225,364 shares during the period. Van Berkom & Associates Inc. raised its holdings in shares of NMI by 7.3% during 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 purchasing an additional 185,099 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of NMI by 33.1% during the first quarter. Assenagon Asset Management S.A. now owns 1,144,360 shares of the financial services provider’s stock worth $37,009,000 after purchasing an additional 284,405 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of NMI by 11.6% during the third quarter. American Century Companies Inc. now owns 988,812 shares of the financial services provider’s stock worth $26,787,000 after purchasing an additional 102,857 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of NMI by 9.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 980,783 shares of the financial services provider’s stock worth $29,110,000 after purchasing an additional 81,727 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.

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.