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

NMI (NASDAQ:NMIH) had its price target trimmed by JPMorgan Chase & Co. from $44.00 to $43.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other research analysts have also issued reports on the stock. Weiss Ratings restated a “buy (b)” rating on shares of NMI in a research note on Thursday, January 22nd. Barclays cut their price objective on NMI from $44.00 to $43.00 and set an “equal weight” rating on the stock in a report on Monday. UBS Group set a $43.00 price objective on NMI in a report on Monday, January 12th. Finally, Keefe, Bruyette & Woods raised NMI from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $46.00 to $48.00 in a report on Thursday, December 18th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.80.

NMI Trading Up 1.1%

Shares of NASDAQ:NMIH opened at $39.33 on Thursday. The business’s 50-day moving average is $38.63 and its 200 day moving average is $38.33. NMI has a 1 year low of $32.66 and a 1 year high of $43.20. The firm has a market capitalization of $3.00 billion, a P/E ratio of 8.01, a P/E/G ratio of 1.07 and a beta of 0.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.57 and a quick ratio of 0.57.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Tuesday, February 10th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.03. NMI had a net margin of 55.05% and a return on equity of 15.78%. The business had revenue of $180.74 million for the quarter, compared to analyst estimates of $180.69 million. During the same quarter in the prior year, the business posted $1.07 EPS. On average, research analysts predict that NMI will post 4.62 earnings per share for the current fiscal year.

Insider Transactions at NMI

In related news, EVP Norman Peter Fitzgerald sold 22,500 shares of NMI stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $39.94, for a total transaction of $898,650.00. Following the completion of the transaction, the executive vice president directly owned 32,445 shares in the company, valued at approximately $1,295,853.30. This trade represents a 40.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Bradley M. Shuster sold 18,953 shares of NMI stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $37.35, for a total value of $707,894.55. Following the transaction, the chairman owned 415,411 shares of the company’s stock, valued at approximately $15,515,600.85. This represents a 4.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 189,412 shares of company stock worth $7,357,746 over the last 90 days. 2.44% of the stock is currently owned by company insiders.

Institutional Trading of NMI

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its holdings in NMI by 35.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 301 shares during the period. River Road Asset Management LLC acquired a new stake in shares of NMI in the fourth quarter valued at about $15,104,000. Mercer Global Advisors Inc. ADV grew its position in shares of NMI by 63.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 18,816 shares of the financial services provider’s stock valued at $768,000 after purchasing an additional 7,280 shares during the period. State of Tennessee Department of Treasury grew its position in shares of NMI by 3.1% in the fourth quarter. State of Tennessee Department of Treasury now owns 36,365 shares of the financial services provider’s stock valued at $1,408,000 after purchasing an additional 1,084 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in shares of NMI in the fourth quarter valued at about $417,000. Institutional investors and hedge funds own 94.12% of the company’s stock.

NMI Company Profile

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.