NMI Holdings Inc (NASDAQ:NMIH) Stock Has Consensus Price Target of $48.43 According to Analysts

NMI Holdings Inc (NASDAQ:NMIH) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $48.43.

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $47.00 price objective on shares of NMI in a research report on Monday, August 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NMI in a research report on Wednesday, September 9th. JPMorgan Chase & Co. decreased their target price on NMI from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday. Truist Financial lifted their target price on NMI from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $53.00 price target on shares of NMI in a report on Tuesday, August 4th.

NMI Stock Performance

NMIH stock opened at $39.56 on Wednesday. The firm has a market cap of $2.98 billion, a PE ratio of 7.79, a P/E/G ratio of 1.06 and a beta of 0.56. 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 business has a 50 day moving average of $43.14 and a 200-day moving average of $40.66. NMI has a 12-month low of $34.84 and a 12-month high of $46.74.

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

Insider Buying and Selling

In other NMI news, EVP Robert Smith sold 12,000 shares of NMI stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $44.65, for a total value of $535,800.00. Following the sale, the executive vice president owned 96,381 shares of the company’s stock, valued at approximately $4,303,411.65. The trade was a 11.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adam Pollitzer sold 172,706 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $44.85, for a total transaction of $7,745,864.10. Following the completion of the transaction, the chief executive officer owned 270,267 shares in the company, valued at approximately $12,121,474.95. The trade was a 38.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 196,368 shares of company stock worth $8,800,740. Insiders own 2.44% of the company’s stock.

Institutional Investors Weigh In On NMI

Large investors have recently modified their holdings of the stock. Bessemer Group Inc. raised its position in shares of NMI by 34.0% in the 1st 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. Rockefeller Capital Management L.P. boosted its stake in NMI by 35.0% in the 4th 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 in the last quarter. Evolve Private Wealth LLC boosted its stake in NMI by 1.6% in the 1st quarter. Evolve Private Wealth LLC now owns 19,525 shares of the financial services provider’s stock worth $732,000 after purchasing an additional 302 shares in the last quarter. GAMMA Investing LLC grew its position in NMI by 11.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,989 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 310 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in NMI by 58.7% during the 1st quarter. Pacer Advisors Inc. now owns 1,006 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 372 shares during the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

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.