Analysts Set NMI Holdings, Inc. (NASDAQ:NMIH) Target Price at $36.44

Shares of NMI Holdings, Inc. (NASDAQ:NMIH) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $36.44.

Several research firms recently weighed in on NMIH. JPMorgan Chase & Co. increased their price target on shares of NMI from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, July 8th. Barclays increased their target price on shares of NMI from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. StockNews.com raised shares of NMI from a “hold” rating to a “buy” rating in a report on Friday. Truist Financial increased their price objective on NMI from $36.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Compass Point boosted their target price on NMI from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th.

Hedge Funds Weigh In On NMI

A number of large investors have recently made changes to their positions in NMIH. F M Investments LLC bought a new stake in shares of NMI during the 2nd quarter valued at $12,447,000. Panagora Asset Management Inc. grew its holdings in NMI by 5.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 526,287 shares of the financial services provider’s stock valued at $17,915,000 after buying an additional 29,040 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of NMI by 94.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 15,361 shares of the financial services provider’s stock valued at $523,000 after buying an additional 7,473 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of NMI by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 670,256 shares of the financial services provider’s stock worth $22,816,000 after buying an additional 4,096 shares in the last quarter. Finally, Summit Global Investments boosted its position in shares of NMI by 5.9% in the second quarter. Summit Global Investments now owns 45,582 shares of the financial services provider’s stock valued at $1,552,000 after acquiring an additional 2,521 shares during the period. 94.12% of the stock is owned by institutional investors.

NMI Stock Performance

Shares of NMIH opened at $39.39 on Tuesday. The stock has a 50 day moving average of $34.33 and a 200 day moving average of $32.06. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 0.98 and a beta of 1.09. NMI has a 12 month low of $25.62 and a 12 month high of $39.81. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20.

NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.12. The firm had revenue of $156.25 million during the quarter, compared to the consensus estimate of $133.76 million. NMI had a return on equity of 18.09% and a net margin of 56.26%. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 EPS. As a group, sell-side analysts forecast that NMI will post 4.27 earnings per share for the current year.

About NMI

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, internet-sourced lenders, and other non-bank lenders.