JPMorgan Chase & Co. Lowers NMI (NASDAQ:NMIH) Price Target to $43.00

NMI (NASDAQ:NMIH) had its price objective lowered by JPMorgan Chase & Co. from $44.00 to $43.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 18.13% from the company’s previous close.

NMIH has been the topic of a number of other reports. Keefe, Bruyette & Woods cut shares of NMI from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $42.00 to $43.00 in a report on Monday, July 7th. Barclays reiterated a “cautious” rating on shares of NMI in a research report on Monday. Weiss Ratings reissued a “buy (b)” rating on shares of NMI in a report on Saturday, September 27th. Finally, Wall Street Zen cut NMI from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.33.

NMI Price Performance

NASDAQ:NMIH opened at $36.40 on Tuesday. The stock’s 50-day moving average price is $38.91 and its 200-day moving average price is $38.19. NMI has a 52 week low of $31.90 and a 52 week high of $43.20. The stock has a market capitalization of $2.82 billion, a PE ratio of 7.73, a price-to-earnings-growth ratio of 1.06 and a beta of 0.56. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17.

NMI (NASDAQ:NMIH) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.06. The company had revenue of $149.07 million during the quarter, compared to the consensus estimate of $173.39 million. NMI had a net margin of 55.57% and a return on equity of 16.51%. NMI’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 EPS. As a group, equities analysts expect that NMI will post 4.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other NMI news, Director Steven Scheid sold 19,926 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $39.31, for a total transaction of $783,291.06. Following the completion of the sale, the director owned 78,960 shares of the company’s stock, valued at approximately $3,103,917.60. The trade was a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On NMI

Institutional investors and hedge funds have recently modified their holdings of the stock. Nuveen LLC bought a new position in shares of NMI in the 1st quarter worth about $44,886,000. Millennium Management LLC lifted its stake in shares of NMI by 209.9% in the 1st quarter. Millennium Management LLC now owns 1,432,950 shares of the financial services provider’s stock worth $51,658,000 after acquiring an additional 970,551 shares during the period. Assenagon Asset Management S.A. lifted its position in NMI by 70.9% in the first quarter. Assenagon Asset Management S.A. now owns 2,034,419 shares of the financial services provider’s stock worth $73,341,000 after purchasing an additional 844,037 shares during the period. Public Sector Pension Investment Board raised its stake in shares of NMI by 176.2% in the 1st quarter. Public Sector Pension Investment Board now owns 544,723 shares of the financial services provider’s stock worth $19,637,000 after buying an additional 347,524 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in NMI during the second quarter worth about $13,245,000. Hedge funds and other institutional investors own 94.12% of the company’s stock.

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.