NMI (NASDAQ:NMIH) Sets New 52-Week High on Analyst Upgrade

NMI Holdings, Inc. (NASDAQ:NMIH)’s share price reached a new 52-week high during trading on Tuesday after Compass Point raised their price target on the stock from $33.00 to $36.00. Compass Point currently has a buy rating on the stock. NMI traded as high as $33.81 and last traded at $33.60, with a volume of 13605 shares changing hands. The stock had previously closed at $33.41.

Several other equities analysts also recently commented on NMIH. StockNews.com raised shares of NMI from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Keefe, Bruyette & Woods increased their price objective on NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. boosted their target price on NMI from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Truist Financial increased their price target on NMI from $36.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Royal Bank of Canada boosted their price objective on shares of NMI from $31.00 to $33.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.22.

Insider Activity at NMI

In other NMI news, EVP Robert Owen Smith sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $31.19, for a total value of $93,570.00. Following the sale, the executive vice president now directly owns 82,612 shares in the company, valued at approximately $2,576,668.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Bradley M. Shuster sold 6,559 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $29.81, for a total transaction of $195,523.79. Following the sale, the chairman now directly owns 453,298 shares in the company, valued at $13,512,813.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Robert Owen Smith sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $31.19, for a total value of $93,570.00. Following the completion of the transaction, the executive vice president now directly owns 82,612 shares of the company’s stock, valued at $2,576,668.28. The disclosure for this sale can be found here. Insiders sold a total of 145,158 shares of company stock worth $4,395,582 in the last ninety days. 2.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NMI

Several institutional investors and hedge funds have recently bought and sold shares of the business. Daiwa Securities Group Inc. bought a new stake in NMI in the fourth quarter valued at about $27,000. Fidelis Capital Partners LLC acquired a new stake in NMI during the first quarter valued at approximately $31,000. TFO Wealth Partners LLC grew its stake in shares of NMI by 24,500.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 1,225 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in shares of NMI in the 4th quarter worth approximately $145,000. Finally, Quadrant Capital Group LLC lifted its position in shares of NMI by 6.1% during the 4th quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider’s stock worth $180,000 after buying an additional 350 shares during the period. Institutional investors own 94.12% of the company’s stock.

NMI Trading Down 0.7 %

The company has a 50 day moving average of $30.80 and a 200 day moving average of $29.66. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 8.27, a price-to-earnings-growth ratio of 1.17 and a beta of 1.06. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20.

NMI (NASDAQ:NMIH) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.96 by $0.12. The company had revenue of $156.25 million for the quarter, compared to the consensus estimate of $133.76 million. NMI had a net margin of 56.26% and a return on equity of 18.09%. The firm’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 EPS. As a group, research analysts anticipate that NMI Holdings, Inc. will post 4.18 EPS for the current year.

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.