NMI (NASDAQ:NMIH) Price Target Raised to $36.00 at JPMorgan Chase & Co.

NMI (NASDAQ:NMIH) had its price target boosted by JPMorgan Chase & Co. from $35.00 to $36.00 in a research report released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other research firms also recently commented on NMIH. Royal Bank of Canada boosted their target price on shares of NMI from $31.00 to $33.00 and gave the stock a sector perform rating in a research report on Thursday, February 15th. Keefe, Bruyette & Woods boosted their price objective on NMI from $33.00 to $36.00 and gave the stock a market perform rating in a report on Thursday, April 4th. Truist Financial raised their target price on NMI from $36.00 to $37.00 and gave the company a buy rating in a report on Wednesday. Finally, StockNews.com downgraded NMI from a buy rating to a hold rating in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $34.67.

NMI Stock Up 2.6 %

Shares of NASDAQ:NMIH opened at $31.65 on Wednesday. The business’s 50-day moving average is $30.45 and its 200-day moving average is $29.47. NMI has a 1 year low of $22.40 and a 1 year high of $32.66. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 7.83, a P/E/G ratio of 1.14 and a beta of 1.06. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.73 and a quick ratio of 0.73.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share for the quarter, beating the consensus estimate 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 net margin of 56.26% and a return on equity of 18.48%. The business’s revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 earnings per share. Equities research analysts predict that NMI will post 4.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, Chairman Bradley M. Shuster sold 6,559 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $29.81, for a total value of $195,523.79. Following the sale, the chairman now directly owns 453,298 shares of the company’s stock, valued at $13,512,813.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Bradley M. Shuster sold 6,559 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $29.81, for a total value of $195,523.79. Following the completion of the transaction, the chairman now owns 453,298 shares of the company’s stock, valued at approximately $13,512,813.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert Owen Smith sold 3,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $31.19, for a total value of $93,570.00. Following the completion of the transaction, the executive vice president now owns 82,612 shares of the company’s stock, valued at approximately $2,576,668.28. The disclosure for this sale can be found here. Insiders have sold 145,158 shares of company stock valued at $4,395,582 in the last ninety days. Company insiders own 2.70% of the company’s stock.

Institutional Trading of NMI

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in shares of NMI during the 3rd quarter valued at $1,042,000. Raymond James & Associates lifted its holdings in NMI by 4.5% in the third quarter. Raymond James & Associates now owns 120,880 shares of the financial services provider’s stock valued at $3,275,000 after acquiring an additional 5,212 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of NMI by 15.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,029 shares of the financial services provider’s stock valued at $488,000 after purchasing an additional 2,447 shares during the period. Assetmark Inc. increased its position in shares of NMI by 17,540.3% during the 3rd quarter. Assetmark Inc. now owns 65,622 shares of the financial services provider’s stock valued at $1,778,000 after purchasing an additional 65,250 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of NMI by 33.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,677 shares of the financial services provider’s stock worth $262,000 after buying an additional 2,421 shares during the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

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.