NMI (NASDAQ:NMIH) Price Target Raised to $48.00

NMI (NASDAQ:NMIH) had its price target boosted by JPMorgan Chase & Co. from $43.00 to $48.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 16.40% from the stock’s current price.

Several other research firms have also recently weighed in on NMIH. Royal Bank Of Canada assumed coverage on shares of NMI in a report on Friday, May 22nd. They issued an “outperform” rating and a $46.00 price target on the stock. UBS Group set a $46.00 target price on NMI in a research report on Friday, May 22nd. Keefe, Bruyette & Woods lifted their price target on NMI from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. Barclays reduced their price target on NMI from $44.00 to $43.00 and set an “equal weight” rating for the company in a research note on Monday, April 6th. Finally, Weiss Ratings raised NMI from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 12th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, NMI currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.00.

NMI Stock Performance

NMIH stock traded up $0.08 during midday trading on Monday, reaching $41.24. 77,085 shares of the company were exchanged, compared to its average volume of 520,240. NMI has a one year low of $34.84 and a one year high of $42.28. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 8.40, a price-to-earnings-growth ratio of 1.43 and a beta of 0.54. The business has a 50-day moving average price of $38.21 and a two-hundred day moving average price of $38.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.63 and a quick ratio of 0.63.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.06. The company had revenue of $183.47 million for the quarter, compared to analyst estimates of $153.99 million. NMI had a net margin of 53.82% and a return on equity of 15.18%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 earnings per share. Equities research analysts forecast that NMI will post 5.12 EPS for the current year.

Insider Buying and Selling

In related news, Director Michael Curry Montgomery sold 1,554 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $37.90, for a total transaction of $58,896.60. Following the completion of the sale, the director owned 69,026 shares of the company’s stock, valued at $2,616,085.40. This represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.44% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NMI

Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of NMI by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,351,808 shares of the financial services provider’s stock valued at $163,237,000 after buying an additional 34,372 shares in the last quarter. Van Berkom & Associates Inc. boosted its position in shares of NMI by 5.6% during the 4th quarter. Van Berkom & Associates Inc. now owns 2,016,030 shares of the financial services provider’s stock worth $82,234,000 after acquiring an additional 106,400 shares in the last quarter. Geode Capital Management LLC increased its stake in NMI by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 1,982,722 shares of the financial services provider’s stock valued at $80,887,000 after acquiring an additional 5,274 shares during the last quarter. Bank of America Corp DE increased its stake in NMI by 22.7% in the first quarter. Bank of America Corp DE now owns 1,304,633 shares of the financial services provider’s stock valued at $48,937,000 after acquiring an additional 241,724 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its position in NMI by 10.8% during the second quarter. Qube Research & Technologies Ltd now owns 758,481 shares of the financial services provider’s stock valued at $32,000,000 after purchasing an additional 73,695 shares in the last quarter. 94.12% of the stock is owned by institutional investors.

About NMI

NMI Holdings, Inc (NASDAQ: NMIH) is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher‐loan‐to‐value mortgages, the company supports homebuyers’ access to financing and contributes to overall market liquidity.

Beyond its core mortgage insurance products, NMI offers credit risk‐sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.