JPMorgan Chase & Co. Has Lowered Expectations for NMI (NASDAQ:NMIH) Stock Price

NMI (NASDAQ:NMIH) had its target price lowered by research analysts at JPMorgan Chase & Co. from $50.00 to $45.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 13.12% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. Royal Bank Of Canada restated an “outperform” rating and issued a $53.00 target price on shares of NMI in a research note on Tuesday, August 4th. Weiss Ratings restated a “buy (b)” rating on shares of NMI in a report on Wednesday, September 9th. Truist Financial upped their target price on shares of NMI from $49.00 to $51.00 and gave the company a “buy” rating in a report on Friday, July 31st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $47.00 price objective on shares of NMI in a research report on Monday, August 3rd. Finally, BTIG Research initiated coverage on NMI in a report on Tuesday, September 22nd. They set a “buy” rating and a $54.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, NMI currently has an average rating of “Moderate Buy” and an average target price of $48.43.

NMI Trading Down 0.6%

Shares of NMI stock traded down $0.23 during trading on Monday, reaching $39.78. 115,222 shares of the company were exchanged, compared to its average volume of 536,273. NMI has a twelve month low of $34.84 and a twelve month high of $46.74. The business has a 50-day moving average price of $43.34 and a 200-day moving average price of $40.62. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 7.83, a P/E/G ratio of 1.08 and a beta of 0.56.

NMI (NASDAQ:NMIH) last posted its earnings results on Thursday, July 30th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.10. NMI had a return on equity of 15.13% and a net margin of 54.10%. The firm had revenue of $187.89 million during the quarter, compared to analysts’ expectations of $156.26 million. During the same period in the previous year, the firm earned $1.22 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. Sell-side analysts anticipate that NMI will post 5.25 EPS for the current fiscal year.

Insider Activity

In other news, EVP Robert Smith sold 12,000 shares of NMI stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $44.65, for a total transaction of $535,800.00. Following the sale, the executive vice president directly owned 96,381 shares of the company’s stock, valued at approximately $4,303,411.65. This trade represents a 11.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam Pollitzer sold 172,706 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $44.85, for a total value of $7,745,864.10. Following the sale, the chief executive officer owned 270,267 shares in the company, valued at approximately $12,121,474.95. This trade represents a 38.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 196,368 shares of company stock valued at $8,800,740. 2.44% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NMI

Institutional investors have recently added to or reduced their stakes in the business. Nykredit A S acquired a new position in NMI in the 2nd quarter valued at approximately $31,000. Public Employees Retirement System of Ohio acquired a new position in shares of NMI during the second quarter worth $36,000. Pacer Advisors Inc. lifted its holdings in shares of NMI by 58.7% during the first quarter. Pacer Advisors Inc. now owns 1,006 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 372 shares during the period. Bessemer Group Inc. grew its stake in shares of NMI by 34.0% in the first quarter. Bessemer Group Inc. now owns 1,071 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 272 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of NMI by 35.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 301 shares during the last quarter. 94.12% of the stock is owned by institutional investors.

About NMI

NMI Holdings, Inc (NASDAQ:NMIH) is a holding company whose principal operating subsidiary, National MI, provides private mortgage insurance in the United States. Mortgage insurance helps protect lenders and investors against losses when borrowers default on residential mortgage loans, enabling qualified borrowers to purchase homes with down payments below traditional requirements.

National MI primarily offers mortgage insurance for residential first-lien mortgages, including borrower-paid and lender-paid coverage.