Brokerages Set NMI Holdings Inc (NASDAQ:NMIH) Price Target at $44.80

NMI Holdings Inc (NASDAQ:NMIH) has earned an average recommendation of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $44.80.

A number of brokerages have issued reports on NMIH. JPMorgan Chase & Co. cut their price target on shares of NMI from $44.00 to $43.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Keefe, Bruyette & Woods cut their price target on shares of NMI from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. Weiss Ratings lowered shares of NMI from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. Royal Bank Of Canada began coverage on shares of NMI in a research note on Friday, May 22nd. They set an “outperform” rating and a $46.00 price target on the stock. Finally, UBS Group set a $46.00 price target on shares of NMI in a research note on Friday, May 22nd.

Insider Transactions at NMI

In other NMI news, Director Michael Curry Montgomery sold 1,554 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $37.90, for a total transaction of $58,896.60. Following the sale, the director directly owned 69,026 shares in the company, valued at $2,616,085.40. This represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Bradley M. Shuster sold 18,953 shares of the business’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $37.35, for a total transaction of $707,894.55. Following the sale, the chairman owned 415,411 shares in the company, valued at $15,515,600.85. This trade represents a 4.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 77,909 shares of company stock worth $2,920,756 over the last quarter. Insiders own 2.44% of the company’s stock.

Hedge Funds Weigh In On NMI

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in shares of NMI by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,351,808 shares of the financial services provider’s stock worth $163,237,000 after buying an additional 34,372 shares in the last quarter. American Century Companies Inc. grew its position in shares of NMI by 5.8% during the third quarter. American Century Companies Inc. now owns 2,379,801 shares of the financial services provider’s stock worth $91,242,000 after buying an additional 130,002 shares in the last quarter. Van Berkom & Associates Inc. grew its position in shares of NMI by 5.6% during the fourth quarter. Van Berkom & Associates Inc. now owns 2,016,030 shares of the financial services provider’s stock worth $82,234,000 after buying an additional 106,400 shares in the last quarter. Geode Capital Management LLC grew its position in shares of NMI by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 1,982,722 shares of the financial services provider’s stock worth $80,887,000 after buying an additional 5,274 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of NMI by 22.7% during the first quarter. Bank of America Corp DE now owns 1,304,633 shares of the financial services provider’s stock worth $48,937,000 after buying an additional 241,724 shares in the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

NMI Price Performance

Shares of NMIH opened at $35.64 on Friday. NMI has a 1-year low of $34.84 and a 1-year high of $43.20. The stock has a market cap of $2.71 billion, a PE ratio of 7.26, a P/E/G ratio of 1.23 and a beta of 0.55. The firm has a 50-day simple moving average of $38.27 and a two-hundred day simple moving average of $38.75. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.63 and a quick ratio of 0.63.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.06. NMI had a net margin of 53.82% and a return on equity of 15.18%. The business had revenue of $183.48 million during the quarter, compared to analysts’ expectations of $153.99 million. During the same period last year, the business earned $1.28 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, analysts forecast that NMI will post 5.12 EPS for the current year.

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.