Brokerages Set NMI Holdings, Inc. (NASDAQ:NMIH) Price Target at $40.00

NMI Holdings, Inc. (NASDAQ:NMIH) has earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $40.00.

A number of analysts have issued reports on the stock. Royal Bank of Canada boosted their price target on shares of NMI from $34.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 31st. StockNews.com lowered shares of NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Keefe, Bruyette & Woods boosted their price target on shares of NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Barclays increased their price objective on NMI from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Truist Financial upped their price target on NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st.

Insiders Place Their Bets

In other news, Director Michael J. Embler sold 26,008 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total value of $1,023,414.80. Following the completion of the transaction, the director now owns 61,607 shares in the company, valued at approximately $2,424,235.45. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider William J. Leatherberry sold 3,000 shares of NMI stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total transaction of $120,210.00. Following the sale, the insider now owns 153,689 shares in the company, valued at $6,158,318.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael J. Embler sold 26,008 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total value of $1,023,414.80. Following the completion of the sale, the director now directly owns 61,607 shares of the company’s stock, valued at $2,424,235.45. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Capital International Investors acquired a new stake in shares of NMI in the first quarter valued at approximately $32,270,000. Donald Smith & CO. Inc. acquired a new stake in NMI during the 2nd quarter worth $29,708,000. Goldentree Asset Management LP acquired a new stake in NMI during the 1st quarter worth $22,600,000. Norges Bank purchased a new position in NMI during the 4th quarter worth $20,006,000. Finally, F M Investments LLC acquired a new position in NMI in the second quarter valued at $12,447,000. Institutional investors and hedge funds own 94.12% of the company’s stock.

NMI Stock Performance

NASDAQ:NMIH opened at $41.15 on Wednesday. NMI has a fifty-two week low of $25.62 and a fifty-two week high of $42.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.67 and a current ratio of 0.67. The company has a 50 day moving average price of $38.68 and a 200 day moving average price of $34.34. The stock has a market capitalization of $3.30 billion, a P/E ratio of 10.19, a PEG ratio of 0.89 and a beta of 1.12.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.05 by $0.15. The business had revenue of $162.12 million during the quarter, compared to analyst estimates of $138.49 million. NMI had a return on equity of 18.29% and a net margin of 56.40%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the business posted $0.95 earnings per share. Equities research analysts forecast that NMI will post 4.5 EPS 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.