NMI (NASDAQ:NMIH) Price Target Increased to $47.00 by Analysts at Truist Financial

NMI (NASDAQ:NMIH) had its price target lifted by Truist Financial from $37.00 to $47.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

NMIH has been the topic of a number of other research reports. Barclays boosted their price objective on NMI from $40.00 to $41.00 and gave the stock an overweight rating in a research note on Tuesday, July 9th. StockNews.com raised NMI from a hold rating to a buy rating in a research note on Friday, July 26th. Compass Point boosted their price objective on NMI from $33.00 to $36.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. JPMorgan Chase & Co. boosted their price objective on NMI from $36.00 to $40.00 and gave the stock an overweight rating in a research note on Monday, July 8th. Finally, 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 research note on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $40.00.

NMI Trading Down 1.4 %

Shares of NMIH stock opened at $37.69 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 0.67. NMI has a 1 year low of $25.62 and a 1 year high of $42.01. The stock has a fifty day moving average of $34.78 and a two-hundred day moving average of $32.30. The firm has a market capitalization of $3.00 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 0.94 and a beta of 1.09.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.15. NMI had a return on equity of 18.29% and a net margin of 56.40%. The company had revenue of $162.12 million during the quarter, compared to analyst estimates of $138.49 million. During the same quarter in the previous year, the firm posted $0.95 EPS. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, research analysts expect that NMI will post 4.33 EPS for the current year.

Insider Transactions at NMI

In other NMI news, insider William J. Leatherberry 44,725 shares of the stock in a transaction on Wednesday, July 31st. The was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Michael J. Embler sold 26,008 shares of NMI stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the transaction, the director now owns 61,607 shares in the company, valued at $2,424,235.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William J. Leatherberry 44,725 shares of the stock in a transaction on Wednesday, July 31st. The disclosure for this trade can be found here. 2.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. TD Asset Management Inc grew its stake in NMI by 5.6% in the second quarter. TD Asset Management Inc now owns 94,200 shares of the financial services provider’s stock valued at $3,207,000 after purchasing an additional 5,000 shares in the last quarter. Natixis Advisors LLC grew its stake in NMI by 4.8% in the second quarter. Natixis Advisors LLC now owns 33,600 shares of the financial services provider’s stock valued at $1,144,000 after purchasing an additional 1,527 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in NMI in the second quarter valued at about $63,000. F M Investments LLC purchased a new position in NMI in the second quarter valued at about $12,447,000. Finally, Panagora Asset Management Inc. grew its stake in NMI by 5.8% in the second quarter. Panagora Asset Management Inc. now owns 526,287 shares of the financial services provider’s stock valued at $17,915,000 after purchasing an additional 29,040 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

NMI Company Profile

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.