NMI (NASDAQ:NMIH) Stock Price Target Raised at JPMorgan Chase & Co.

NMI (NASDAQ:NMIH) had its target price hoisted by analysts at JPMorgan Chase & Co. from $45.00 to $46.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 19.16% from the company’s current price.

A number of other research firms also recently commented on NMIH. Barclays dropped their price target on shares of NMI from $43.00 to $42.00 and set an “equal weight” rating on the stock in a research report on Friday. Weiss Ratings lowered shares of NMI from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, November 3rd. Royal Bank Of Canada reissued an “outperform” rating and set a $53.00 target price on shares of NMI in a report on Tuesday, August 4th. Truist Financial upped their target price on NMI from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Finally, BTIG Research began coverage on NMI in a research report on Tuesday, September 22nd. They issued a “buy” rating and a $54.00 target price for the company. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, NMI has an average rating of “Moderate Buy” and a consensus price target of $47.88.

NMI Stock Performance

Shares of NASDAQ:NMIH traded down $0.27 during trading on Tuesday, reaching $38.60. 127,015 shares of the company’s stock traded hands, compared to its average volume of 578,228. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.65 and a quick ratio of 0.65. NMI has a 12 month low of $35.12 and a 12 month high of $46.74. The company has a 50 day moving average of $41.90 and a 200-day moving average of $40.37. The stock has a market capitalization of $2.90 billion, a P/E ratio of 7.58, a price-to-earnings-growth ratio of 1.44 and a beta of 0.52.

NMI (NASDAQ:NMIH) last issued its earnings results on Thursday, November 5th. The financial services provider reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.07). The company had revenue of $187.55 million during the quarter, compared to analyst estimates of $159.20 million. NMI had a return on equity of 15.13% and a net margin of 54.10%. During the same period in the prior year, the business earned $1.21 earnings per share. On average, equities analysts expect that NMI will post 5.26 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Adam Pollitzer sold 172,706 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $44.85, for a total value of $7,745,864.10. Following the completion of the sale, the chief executive officer directly owned 270,267 shares of the company’s stock, valued at $12,121,474.95. This represents a 38.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.44% of the company’s stock.

Institutional Trading of NMI

Several large investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. increased its position in NMI by 34.0% in the first quarter. Bessemer Group Inc. now owns 1,071 shares of the financial services provider’s stock worth $40,000 after buying an additional 272 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of NMI by 11.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,989 shares of the financial services provider’s stock valued at $123,000 after buying an additional 310 shares during the last quarter. Hantz Financial Services Inc. lifted its position in shares of NMI by 76.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 750 shares of the financial services provider’s stock valued at $28,000 after buying an additional 326 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of NMI by 58.7% during the 1st quarter. Pacer Advisors Inc. now owns 1,006 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 372 shares during the period. Finally, Inspire Investing LLC grew its stake in shares of NMI by 2.6% during the 3rd quarter. Inspire Investing LLC now owns 16,862 shares of the financial services provider’s stock worth $629,000 after acquiring an additional 425 shares during the period. 94.12% of the stock is owned by institutional investors.

NMI Company Profile

NMI Holdings, Inc provides private mortgage insurance through its subsidiary, National Mortgage Insurance Corporation. Its coverage helps lenders manage the risk of mortgage loans made to borrowers who have smaller down payments, while enabling borrowers to qualify for home financing without a 20% down payment.

The company offers mortgage insurance products and related services to mortgage lenders, banks, credit unions and other housing-market participants. Its offerings include borrower-paid and lender-paid coverage, along with technology and services that support mortgage insurance underwriting and policy management.

National MI began writing mortgage insurance in 2013 and serves customers across the United States.