NMI Holdings Inc (NASDAQ:NMIH – Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $43.49 and last traded at $43.0110, with a volume of 590 shares. The stock had previously closed at $43.01.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the stock. Weiss Ratings upgraded shares of NMI from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 12th. Keefe, Bruyette & Woods increased their price target on NMI from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. JPMorgan Chase & Co. lifted their price objective on NMI from $43.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Royal Bank Of Canada started coverage on NMI in a research note on Friday, May 22nd. They issued an “outperform” rating and a $46.00 price objective on the stock. Finally, Barclays cut their target price on NMI from $44.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $46.00.
Get Our Latest Stock Report on NMIH
NMI Stock Down 1.8%
NMI (NASDAQ:NMIH – Get Free Report) last issued its earnings results on Thursday, April 30th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 $183.47 million for the quarter, compared to analyst estimates of $153.99 million. During the same period in the prior year, the firm earned $1.28 earnings per share. NMI’s revenue was up 5.9% on a year-over-year basis. On average, analysts anticipate that NMI Holdings Inc will post 5.11 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Michael Curry Montgomery sold 1,554 shares of the 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 transaction, the director owned 69,026 shares of the company’s stock, valued at $2,616,085.40. This represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.44% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised 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 purchasing an additional 34,372 shares during the period. Van Berkom & Associates Inc. lifted its holdings in shares of NMI by 5.6% in the 4th quarter. Van Berkom & Associates Inc. now owns 2,016,030 shares of the financial services provider’s stock worth $82,234,000 after purchasing an additional 106,400 shares in the last quarter. Geode Capital Management LLC grew its position in NMI by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,982,722 shares of the financial services provider’s stock valued at $80,887,000 after purchasing an additional 5,274 shares during the period. Bank of America Corp DE grew its position 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 valued at $48,937,000 after purchasing an additional 241,724 shares during the period. Finally, Qube Research & Technologies Ltd grew its position 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 valued at $32,000,000 after purchasing an additional 73,695 shares during the period. 94.12% of the stock is owned by institutional investors and hedge funds.
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.
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