NMI Holdings Inc (NASDAQ:NMIH – Get Free Report) reached a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $43.00 to $48.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. NMI traded as high as $42.47 and last traded at $41.91, with a volume of 511722 shares trading hands. The stock had previously closed at $41.53.
A number of other brokerages have also recently weighed in on NMIH. Royal Bank Of Canada initiated coverage on NMI in a research report on Friday, May 22nd. They issued an “outperform” rating and a $46.00 price target for the company. Barclays lowered their price objective on shares of NMI from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Monday, April 6th. UBS Group set a $46.00 target price on shares of NMI in a report on Friday, May 22nd. Weiss Ratings upgraded shares of NMI from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 12th. Finally, Keefe, Bruyette & Woods increased their price target on shares of NMI from $46.00 to $47.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, NMI has an average rating of “Moderate Buy” and an average price target of $46.00.
Read Our Latest Research Report on NMI
Insider Buying and Selling
Institutional Investors Weigh In On NMI
A number of hedge funds and other institutional investors have recently modified their holdings of NMIH. Dimensional Fund Advisors LP raised its position in shares of NMI by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,351,808 shares of the financial services provider’s stock valued at $163,237,000 after buying an additional 34,372 shares during the last quarter. Van Berkom & Associates Inc. boosted its position in 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 acquiring an additional 106,400 shares during the last quarter. Geode Capital Management LLC boosted its position in 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 acquiring an additional 5,274 shares during the last quarter. Bank of America Corp DE grew its stake in NMI by 22.7% in the 1st quarter. Bank of America Corp DE now owns 1,304,633 shares of the financial services provider’s stock worth $48,937,000 after acquiring an additional 241,724 shares during the period. Finally, Qube Research & Technologies Ltd grew its stake in NMI by 10.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 758,481 shares of the financial services provider’s stock worth $32,000,000 after acquiring an additional 73,695 shares during the period. 94.12% of the stock is currently owned by hedge funds and other institutional investors.
NMI Price Performance
The company’s 50 day simple moving average is $38.26 and its 200 day simple moving average is $38.79. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $3.18 billion, a PE ratio of 8.54, a PEG ratio of 1.43 and a beta of 0.54.
NMI (NASDAQ:NMIH – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The financial services provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. The company had revenue of $183.47 million for the quarter, compared to analyst estimates of $153.99 million. NMI had a return on equity of 15.18% and a net margin of 53.82%.The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.28 EPS. On average, equities analysts anticipate that NMI Holdings Inc will post 5.12 earnings per share for the current year.
About NMI
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.
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