Analysts Set NMI Holdings, Inc. (NASDAQ:NMIH) Target Price at $40.00

NMI Holdings, Inc. (NASDAQ:NMIH) has received an average rating of “Moderate Buy” from the eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $40.00.

NMIH has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price target on NMI from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Barclays raised their target price on shares of NMI from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Truist Financial upped their price target on shares of NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods raised their price objective on shares of NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Finally, Compass Point upped their target price on NMI from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th.

NMI Trading Up 3.2 %

Shares of NASDAQ:NMIH opened at $39.80 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.67 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $36.29 and its 200 day moving average price is $32.99. The company has a market cap of $3.19 billion, a PE ratio of 9.85, a P/E/G ratio of 0.94 and a beta of 1.09. NMI has a fifty-two week low of $25.62 and a fifty-two week high of $42.01.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $138.49 million. During the same period in the previous year, the firm posted $0.95 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis. Sell-side analysts anticipate that NMI will post 4.33 earnings per share for the current year.

Insider Activity

In related news, Director Michael J. Embler sold 26,008 shares of NMI 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 transaction, the director now owns 61,607 shares of the company’s stock, valued at approximately $2,424,235.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NMI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NMIH. Hancock Whitney Corp lifted its holdings in shares of NMI by 1.6% in the first quarter. Hancock Whitney Corp now owns 22,098 shares of the financial services provider’s stock valued at $715,000 after purchasing an additional 346 shares in the last quarter. Quadrant Capital Group LLC raised its position in NMI by 6.1% during the fourth quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider’s stock valued at $180,000 after buying an additional 350 shares during the period. Illinois Municipal Retirement Fund lifted its stake in NMI by 0.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 48,423 shares of the financial services provider’s stock worth $1,437,000 after acquiring an additional 388 shares in the last quarter. Quarry LP boosted its position in NMI by 135.1% during the 2nd quarter. Quarry LP now owns 858 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 493 shares during the period. Finally, Federated Hermes Inc. grew its stake in NMI by 1.8% during the 2nd quarter. Federated Hermes Inc. now owns 33,570 shares of the financial services provider’s stock valued at $1,143,000 after acquiring an additional 593 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

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.