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

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

NMIH has been the subject of several other reports. JPMorgan Chase & Co. lifted their target price on shares of NMI from $34.00 to $35.00 and gave the company an overweight rating in a report on Wednesday, April 3rd. Royal Bank of Canada raised their price target on shares of NMI from $31.00 to $33.00 and gave the company a sector perform rating in a research report on Thursday, February 15th. StockNews.com downgraded shares of NMI from a buy rating to a hold rating in a research report on Thursday, March 21st. Finally, Keefe, Bruyette & Woods raised their price target on shares of NMI from $33.00 to $36.00 and gave the company a market perform rating in a research report on Thursday, April 4th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, NMI has an average rating of Moderate Buy and a consensus target price of $34.67.

NMI Trading Up 0.1 %

Shares of NMIH stock opened at $32.51 on Wednesday. The company has a market capitalization of $2.61 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 1.17 and a beta of 1.06. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.73 and a current ratio of 0.89. NMI has a 52-week low of $22.49 and a 52-week high of $32.80. The business’s fifty day moving average is $30.57 and its 200 day moving average is $29.52.

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

Insiders Place Their Bets

In related news, EVP Robert Owen Smith sold 3,000 shares of NMI stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $31.19, for a total transaction of $93,570.00. Following the transaction, the executive vice president now owns 82,612 shares in the company, valued at approximately $2,576,668.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other NMI news, EVP Robert Owen Smith sold 3,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $31.19, for a total transaction of $93,570.00. Following the completion of the transaction, the executive vice president now owns 82,612 shares of the company’s stock, valued at approximately $2,576,668.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James G. Jones sold 54,900 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $30.16, for a total transaction of $1,655,784.00. Following the transaction, the director now directly owns 57,641 shares of the company’s stock, valued at approximately $1,738,452.56. The disclosure for this sale can be found here. Insiders sold a total of 145,158 shares of company stock worth $4,395,582 over the last three months. 2.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NMIH. Jennison Associates LLC raised its position in shares of NMI by 14.9% during the 1st quarter. Jennison Associates LLC now owns 51,705 shares of the financial services provider’s stock valued at $1,672,000 after buying an additional 6,695 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of NMI by 588.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 6,200 shares of the financial services provider’s stock valued at $201,000 after buying an additional 5,300 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of NMI during the 1st quarter valued at about $31,000. BNP Paribas Financial Markets raised its position in shares of NMI by 47.0% during the 1st quarter. BNP Paribas Financial Markets now owns 90,240 shares of the financial services provider’s stock valued at $2,918,000 after buying an additional 28,853 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of NMI by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,888 shares of the financial services provider’s stock valued at $255,000 after buying an additional 666 shares in the last quarter. Institutional investors 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.