Brokerages Set NMI Holdings, Inc. (NASDAQ:NMIH) PT at $34.44

NMI Holdings, Inc. (NASDAQ:NMIH) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $34.44.

Several research firms have weighed in on NMIH. Keefe, Bruyette & Woods lifted their target price on NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, April 4th. Truist Financial lifted their target price on NMI from $34.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Royal Bank of Canada lifted 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. JPMorgan Chase & Co. lifted their target price on NMI from $34.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. Finally, StockNews.com lowered NMI from a “buy” rating to a “hold” rating in a report on Thursday, March 21st.

NMI Stock Up 0.3 %

NASDAQ:NMIH opened at $29.59 on Friday. NMI has a 12-month low of $22.22 and a 12-month high of $32.50. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $2.38 billion, a P/E ratio of 7.74, a P/E/G ratio of 1.10 and a beta of 1.06. The stock’s fifty day simple moving average is $30.24 and its 200-day simple moving average is $29.20.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Wednesday, February 14th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.06. NMI had a return on equity of 17.97% and a net margin of 55.63%. The business had revenue of $151.38 million for the quarter, compared to analyst estimates of $131.70 million. During the same period last year, the company earned $0.86 EPS. The firm’s revenue was up 13.7% on a year-over-year basis. Equities research analysts expect that NMI will post 4.05 earnings per share for the current year.

Insider Activity

In other news, Chairman Bradley M. Shuster sold 12,836 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $30.53, for a total value of $391,883.08. Following the sale, the chairman now directly owns 427,271 shares in the company, valued at $13,044,583.63. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Chairman Bradley M. Shuster sold 12,836 shares of NMI stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $30.53, for a total value of $391,883.08. Following the sale, the chairman now owns 427,271 shares of the company’s stock, valued at $13,044,583.63. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Robert Owen Smith sold 3,000 shares of NMI stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $31.19, for a total value of $93,570.00. Following the completion of the sale, the executive vice president now directly owns 82,612 shares in the company, valued at approximately $2,576,668.28. The disclosure for this sale can be found here. Insiders have sold a total of 145,158 shares of company stock worth $4,395,582 over the last three months. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of NMI

A number of hedge funds and other institutional investors have recently modified their holdings of NMIH. Norges Bank acquired a new stake in shares of NMI in the fourth quarter valued at about $18,362,000. State Street Corp increased its position in NMI by 15.8% during the first quarter. State Street Corp now owns 4,053,585 shares of the financial services provider’s stock worth $83,585,000 after buying an additional 551,924 shares during the last quarter. Dimensional Fund Advisors LP increased its position in NMI by 10.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,441,230 shares of the financial services provider’s stock worth $99,171,000 after buying an additional 417,095 shares during the last quarter. Assenagon Asset Management S.A. increased its position in NMI by 88.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 859,955 shares of the financial services provider’s stock worth $25,523,000 after buying an additional 402,793 shares during the last quarter. Finally, Morgan Stanley increased its position in NMI by 40.7% during the third quarter. Morgan Stanley now owns 1,022,943 shares of the financial services provider’s stock worth $27,712,000 after buying an additional 295,742 shares during 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.