NMI (NASDAQ:NMIH) PT Raised to $42.00 at JPMorgan Chase & Co.

NMI (NASDAQ:NMIH) had its target price boosted by JPMorgan Chase & Co. from $40.00 to $42.00 in a report released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other research analysts have also recently weighed in on NMIH. StockNews.com upgraded NMI from a hold rating to a buy rating in a research report on Friday, July 26th. Royal Bank of Canada lifted their price objective on NMI from $34.00 to $40.00 and gave the stock a sector perform rating in a research report on Wednesday. Compass Point lifted their price objective on NMI from $33.00 to $36.00 and gave the stock a buy rating in a research report on Tuesday, May 7th. Keefe, Bruyette & Woods lifted their price objective 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, Barclays lifted their price objective on NMI from $40.00 to $41.00 and gave the stock an overweight rating in a research report on Tuesday, July 9th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $40.00.

NMI Trading Down 1.4 %

Shares of NMIH stock opened at $37.69 on Wednesday. NMI has a fifty-two week low of $25.62 and a fifty-two week high of $42.01. The stock has a market cap of $3.00 billion, a P/E ratio of 9.33, a P/E/G ratio of 0.94 and a beta of 1.09. The business has a fifty day simple moving average of $34.78 and a 200-day simple moving average of $32.30. The company has a quick ratio of 0.89, a current ratio of 0.67 and a debt-to-equity ratio of 0.20.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. NMI had a return on equity of 18.29% and a net margin of 56.40%. The business had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $138.49 million. During the same quarter last year, the business posted $0.95 earnings per share. The business’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, analysts forecast that NMI will post 4.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NMI news, Director Michael J. Embler sold 26,008 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total value of $1,023,414.80. Following the sale, the director now directly owns 61,607 shares of the company’s stock, valued at approximately $2,424,235.45. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other NMI news, insider William J. Leatherberry 44,725 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael J. Embler sold 26,008 shares of NMI stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total value of $1,023,414.80. Following the completion of the transaction, the director now directly owns 61,607 shares in the company, valued at $2,424,235.45. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NMI

Hedge funds and other institutional investors have recently modified their holdings of the company. Daiwa Securities Group Inc. acquired a new position in shares of NMI in the 4th quarter valued at about $27,000. Opal Wealth Advisors LLC acquired a new position in NMI during the 2nd quarter worth approximately $29,000. Fidelis Capital Partners LLC acquired a new position in NMI during the 1st quarter worth approximately $31,000. TFO Wealth Partners LLC lifted its position in NMI by 24,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 1,225 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in NMI during the 2nd quarter worth approximately $63,000. 94.12% of the stock is owned by institutional investors and hedge funds.

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.