NMI (NASDAQ:NMIH) Hits New 12-Month High at $39.15

NMI Holdings, Inc. (NASDAQ:NMIH)’s share price reached a new 52-week high on Thursday . The stock traded as high as $39.15 and last traded at $39.01, with a volume of 96273 shares changing hands. The stock had previously closed at $37.80.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NMIH shares. Barclays boosted their target price on NMI from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Compass Point boosted their target price on NMI from $33.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Keefe, Bruyette & Woods boosted their target price on NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a report on Thursday, April 4th. UBS Group downgraded NMI from a “buy” rating to a “neutral” rating and upped their price objective for the company from $37.00 to $39.00 in a research note on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. upped their price objective on NMI from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.44.

NMI Trading Up 1.8 %

The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 1.32 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 0.89. The business has a fifty day moving average of $34.21 and a two-hundred day moving average of $31.95.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.12. The business had revenue of $156.25 million for the quarter, compared to analysts’ expectations of $133.76 million. NMI had a return on equity of 18.09% and a net margin of 56.26%. The company’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. As a group, equities analysts expect that NMI Holdings, Inc. will post 4.27 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NMI

A number of large investors have recently bought and sold shares of the stock. Hancock Whitney Corp grew its holdings in NMI by 1.6% during the 1st quarter. Hancock Whitney Corp now owns 22,098 shares of the financial services provider’s stock valued at $715,000 after buying an additional 346 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in NMI by 6.1% during the 4th quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider’s stock valued at $180,000 after buying an additional 350 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in NMI by 0.8% during the 4th quarter. Illinois Municipal Retirement Fund now owns 48,423 shares of the financial services provider’s stock valued at $1,437,000 after buying an additional 388 shares during the last quarter. Cerity Partners LLC grew its holdings in NMI by 5.9% during the 4th quarter. Cerity Partners LLC now owns 11,567 shares of the financial services provider’s stock valued at $343,000 after buying an additional 644 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in NMI by 3.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,692 shares of the financial services provider’s stock valued at $555,000 after buying an additional 663 shares during the last quarter. Institutional investors and hedge funds 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.