Compass Point Increases NMI (NASDAQ:NMIH) Price Target to $36.00

NMI (NASDAQ:NMIH) had its price target hoisted by equities researchers at Compass Point from $33.00 to $36.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Compass Point’s price objective would suggest a potential upside of 7.72% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, April 4th. Royal Bank of Canada boosted their target price on shares of NMI from $31.00 to $33.00 and gave the company a “sector perform” rating in a research note on Thursday, February 15th. JPMorgan Chase & Co. raised their price target on shares of NMI from $35.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. StockNews.com upgraded shares of NMI from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Finally, Truist Financial increased their target price on shares of NMI from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.22.

NMI Price Performance

NASDAQ NMIH opened at $33.42 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $2.68 billion, a P/E ratio of 8.27, a P/E/G ratio of 1.17 and a beta of 1.06. NMI has a 12-month low of $23.63 and a 12-month high of $33.97. The firm’s fifty day simple moving average is $30.80 and its two-hundred day simple moving average is $29.66.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.96 by $0.12. The company had revenue of $156.25 million for the quarter, compared to analyst estimates of $133.76 million. NMI had a net margin of 56.26% and a return on equity of 18.09%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 earnings per share. Analysts forecast that NMI will post 4.18 EPS for the current fiscal year.

Insider Activity at NMI

In other news, VP Nicholas Daniel Realmuto sold 1,249 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $30.23, for a total transaction of $37,757.27. Following the completion of the sale, the vice president now owns 10,455 shares of the company’s stock, valued at $316,054.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Nicholas Daniel Realmuto sold 1,249 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $30.23, for a total value of $37,757.27. Following the completion of the sale, the vice president now directly owns 10,455 shares in the company, valued at $316,054.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Bradley M. Shuster sold 6,559 shares of NMI stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $29.81, for a total value of $195,523.79. Following the transaction, the chairman now owns 453,298 shares in the company, valued at approximately $13,512,813.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 145,158 shares of company stock valued at $4,395,582. 2.40% of the stock is owned by insiders.

Institutional Investors Weigh In On NMI

A number of hedge funds have recently modified their holdings of the company. Raymond James & Associates boosted its holdings in NMI by 4.5% in the 3rd quarter. Raymond James & Associates now owns 120,880 shares of the financial services provider’s stock valued at $3,275,000 after purchasing an additional 5,212 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in NMI by 15.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,029 shares of the financial services provider’s stock worth $488,000 after acquiring an additional 2,447 shares during the period. Assetmark Inc. increased its stake in NMI by 17,540.3% during the third quarter. Assetmark Inc. now owns 65,622 shares of the financial services provider’s stock worth $1,778,000 after acquiring an additional 65,250 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in NMI by 33.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,677 shares of the financial services provider’s stock valued at $262,000 after purchasing an additional 2,421 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of NMI in the 3rd quarter valued at $211,000. Hedge funds and other 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.