Royal Bank of Canada Boosts NMI (NASDAQ:NMIH) Price Target to $40.00

NMI (NASDAQ:NMIH) had its target price upped by Royal Bank of Canada from $34.00 to $40.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a sector perform rating on the financial services provider’s stock.

NMIH has been the topic of several other research reports. StockNews.com upgraded shares of NMI from a hold rating to a buy rating in a report on Friday, July 26th. JPMorgan Chase & Co. upped their price objective on shares of NMI from $36.00 to $40.00 and gave the stock an overweight rating in a research report on Monday, July 8th. UBS Group downgraded shares of NMI from a buy rating to a neutral rating and upped their price objective for the stock from $37.00 to $39.00 in a research report on Wednesday, May 22nd. Keefe, Bruyette & Woods upped their price objective on shares of NMI from $33.00 to $36.00 and gave the stock a market perform rating in a research report on Thursday, April 4th. Finally, Compass Point upped their price objective on shares of NMI from $33.00 to $36.00 and gave the stock a buy rating in a research report on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $40.00.

NMI Stock Performance

Shares of NMI stock opened at $37.69 on Wednesday. The company has a quick ratio of 0.89, a current ratio of 0.67 and a debt-to-equity ratio of 0.20. NMI has a twelve month low of $25.62 and a twelve month high of $42.01. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 9.33, a P/E/G ratio of 0.94 and a beta of 1.09. The company’s fifty day moving average is $34.78 and its 200 day moving average is $32.30.

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

Insider Activity

In related news, insider William J. Leatherberry 44,725 shares of the stock in a transaction on Wednesday, July 31st. The was disclosed in a filing with the SEC, which is accessible through this link. In other NMI news, Director Michael J. Embler sold 26,008 shares of the firm’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 sale, the director now owns 61,607 shares of the company’s stock, valued at approximately $2,424,235.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider William J. Leatherberry 44,725 shares of the business’s stock in a transaction on Wednesday, July 31st. The disclosure for this trade can be found here. Corporate insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On NMI

A number of large investors have recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. purchased a new position in NMI during the 4th quarter valued at about $27,000. Opal Wealth Advisors LLC purchased a new position in NMI in the second quarter worth about $29,000. Fidelis Capital Partners LLC purchased a new position in NMI in the first quarter worth about $31,000. TFO Wealth Partners LLC raised its holdings in NMI by 24,500.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock worth $37,000 after buying an additional 1,225 shares during the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in NMI in the second quarter worth about $63,000. 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.