JPMorgan Chase & Co. Boosts NMI (NASDAQ:NMIH) Price Target to $36.00

NMI (NASDAQ:NMIH) had its price target lifted by JPMorgan Chase & Co. from $35.00 to $36.00 in a research note published on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

Several other research analysts also recently commented on NMIH. Royal Bank of Canada lifted their price objective on NMI from $31.00 to $33.00 and gave the stock a sector perform rating in a report on Thursday, February 15th. Truist Financial raised their target price on NMI from $36.00 to $37.00 and gave the stock a buy rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their target price on NMI from $33.00 to $36.00 and gave the stock a market perform rating in a research note on Thursday, April 4th. Finally, StockNews.com cut NMI from a buy rating to a hold rating in a research note on Thursday, March 21st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, NMI currently has a consensus rating of Moderate Buy and a consensus price target of $34.67.

NMI Trading Up 0.1 %

NASDAQ NMIH opened at $32.51 on Wednesday. The stock’s 50-day simple moving average is $30.57 and its two-hundred day simple moving average is $29.52. NMI has a twelve month low of $22.49 and a twelve month high of $32.80. The company has a quick ratio of 0.73, a current ratio of 0.89 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 8.05, a PEG ratio of 1.17 and a beta of 1.06.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.12. The business had revenue of $156.25 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the business posted $0.88 earnings per share. Research analysts forecast that NMI will post 4.18 EPS for the current fiscal year.

Insider Buying and Selling at NMI

In other news, Director James G. Jones sold 54,900 shares of NMI stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 57,641 shares in the company, valued at $1,738,452.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director James G. Jones sold 54,900 shares of NMI stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 57,641 shares in the company, valued at $1,738,452.56. 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 12,836 shares of NMI stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $30.53, for a total transaction of $391,883.08. Following the transaction, the chairman now owns 427,271 shares of the company’s stock, valued at $13,044,583.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,158 shares of company stock valued at $4,395,582. 2.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NMI

A number of hedge funds have recently added to or reduced their stakes in NMIH. Daiwa Securities Group Inc. purchased a new position in NMI in the 4th quarter worth approximately $27,000. Fidelis Capital Partners LLC purchased a new stake in NMI during the 1st quarter valued at $31,000. TFO Wealth Partners LLC lifted its holdings in shares of NMI by 24,500.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock valued at $37,000 after buying an additional 1,225 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in shares of NMI in the 4th quarter worth $145,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of NMI by 6.1% in the fourth quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider’s stock worth $180,000 after acquiring an additional 350 shares during the period. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

NMI Company Profile

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.