Truist Financial Boosts NMI (NASDAQ:NMIH) Price Target to $37.00

NMI (NASDAQ:NMIH) had its price target increased by Truist Financial from $36.00 to $37.00 in a research report report published on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

Several other brokerages have also recently commented on NMIH. Royal Bank of Canada increased their price target 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. StockNews.com cut shares of NMI from a buy rating to a hold rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. increased their price target 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. Finally, Keefe, Bruyette & Woods increased their price target 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. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $34.67.

NMI Stock Up 0.1 %

Shares of NMI stock opened at $32.51 on Wednesday. The business has a 50-day moving average of $30.57 and a 200-day moving average of $29.52. 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 company has a market capitalization of $2.61 billion, a PE ratio of 8.05, a P/E/G ratio of 1.17 and a beta of 1.06. NMI has a 1-year low of $22.49 and a 1-year high of $32.80.

NMI (NASDAQ:NMIH) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.12. The company had revenue of $156.25 million during the quarter, compared to the consensus estimate of $133.76 million. NMI had a return on equity of 18.09% and a net margin of 56.26%. The company’s revenue was up 14.2% on a year-over-year basis. During the same period last year, the firm earned $0.88 earnings per share. As a group, equities analysts forecast that NMI will post 4.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other NMI news, Chairman Bradley M. Shuster sold 6,559 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $29.81, for a total value of $195,523.79. Following the transaction, the chairman now owns 453,298 shares of the company’s stock, valued at $13,512,813.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NMI news, EVP Robert Owen Smith sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $31.19, for a total value of $93,570.00. Following the sale, the executive vice president now owns 82,612 shares in the company, valued at $2,576,668.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 shares were 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 disclosure for this sale can be found here. Insiders have sold 145,158 shares of company stock valued at $4,395,582 over the last quarter. Insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NMIH. SG Americas Securities LLC acquired a new position in shares of NMI during the third quarter valued at approximately $1,042,000. Raymond James & Associates increased its stake in shares of NMI by 4.5% during the third quarter. Raymond James & Associates now owns 120,880 shares of the financial services provider’s stock valued at $3,275,000 after acquiring an additional 5,212 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of NMI by 15.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,029 shares of the financial services provider’s stock valued at $488,000 after acquiring an additional 2,447 shares during the period. Assetmark Inc. increased its stake in shares of NMI by 17,540.3% during the third quarter. Assetmark Inc. now owns 65,622 shares of the financial services provider’s stock valued at $1,778,000 after acquiring an additional 65,250 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in NMI by 33.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,677 shares of the financial services provider’s stock worth $262,000 after buying an additional 2,421 shares during the last quarter. Institutional investors and hedge funds 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.