NMI (NASDAQ:NMIH) Price Target Raised to $40.00

NMI (NASDAQ:NMIH) had its target price boosted by Keefe, Bruyette & Woods from $37.00 to $40.00 in a report released on Thursday morning, Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

A number of other brokerages have also weighed in on NMIH. JPMorgan Chase & Co. upped their target price on NMI from $40.00 to $42.00 and gave the stock an overweight rating in a research report on Wednesday, July 31st. Compass Point increased their price target on NMI from $33.00 to $36.00 and gave the company a buy rating in a research report on Tuesday, May 7th. UBS Group lowered NMI from a buy rating to a neutral rating and increased their price target for the company from $37.00 to $39.00 in a research report on Wednesday, May 22nd. StockNews.com upgraded NMI from a hold rating to a buy rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada upped their price objective on NMI from $34.00 to $40.00 and gave the company a sector perform rating in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, NMI currently has a consensus rating of Moderate Buy and an average price target of $40.00.

NMI Trading Down 4.7 %

Shares of NMIH stock traded down $1.77 during mid-day trading on Thursday, reaching $35.92. 331,447 shares of the stock traded hands, compared to its average volume of 536,867. The stock’s fifty day simple moving average is $34.78 and its two-hundred day simple moving average is $32.32. 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 has a market cap of $2.86 billion, a price-to-earnings ratio of 9.33, a price-to-earnings-growth ratio of 0.94 and a beta of 1.09. NMI has a 1-year low of $25.62 and a 1-year high of $42.01.

NMI (NASDAQ:NMIH) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.15. The company had revenue of $162.12 million for the quarter, compared to analyst estimates of $138.49 million. NMI had a return on equity of 18.29% and a net margin of 56.40%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 earnings per share. On average, research analysts anticipate that NMI will post 4.33 EPS for the current fiscal year.

Insider Transactions at NMI

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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider William J. Leatherberry 44,725 shares of the stock in a transaction on Wednesday, July 31st. The was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael J. Embler sold 26,008 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $2,424,235.45. The disclosure for this sale can be found here. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On NMI

Several hedge funds have recently made changes to their positions in the business. Hancock Whitney Corp boosted its position in shares of NMI by 1.6% during the 1st quarter. Hancock Whitney Corp now owns 22,098 shares of the financial services provider’s stock worth $715,000 after purchasing an additional 346 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of NMI by 6.1% in the 4th quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider’s stock worth $180,000 after buying an additional 350 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of 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 buying an additional 388 shares in the last quarter. Cerity Partners LLC boosted its position in shares of NMI by 5.9% in the 4th quarter. Cerity Partners LLC now owns 11,567 shares of the financial services provider’s stock worth $343,000 after buying an additional 644 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of NMI by 3.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,692 shares of the financial services provider’s stock worth $555,000 after buying an additional 663 shares in 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.