NMI (NASDAQ:NMIH) Price Target Raised to $37.00 at Truist Financial

NMI (NASDAQ:NMIH) had its price objective increased by Truist Financial from $36.00 to $37.00 in a research note published on Wednesday, Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods boosted their price objective on shares of NMI from $33.00 to $36.00 and gave the company a market perform rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. upped their price objective on NMI from $34.00 to $35.00 and gave the stock an overweight rating in a research report on Wednesday, April 3rd. Royal Bank of Canada increased their price objective on NMI from $31.00 to $33.00 and gave the stock a sector perform rating in a report on Thursday, February 15th. Finally, StockNews.com downgraded NMI from a buy rating to a hold rating in a research report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $34.67.

NMI Stock Up 2.6 %

Shares of NMI stock opened at $31.65 on Wednesday. NMI has a 1 year low of $22.40 and a 1 year high of $32.66. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.73 and a quick ratio of 0.73. The company has a market capitalization of $2.55 billion, a P/E ratio of 7.83, a price-to-earnings-growth ratio of 1.14 and a beta of 1.06. The business has a 50-day moving average of $30.45 and a two-hundred day moving average of $29.47.

NMI (NASDAQ:NMIH) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.12. NMI had a return on equity of 18.48% and a net margin of 56.26%. The business had revenue of $156.25 million during the quarter, compared to analysts’ expectations of $133.76 million. During the same period in the prior year, the business earned $0.88 EPS. NMI’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, equities analysts predict that NMI will post 4.05 EPS for the current year.

Insider Buying and Selling

In other NMI news, EVP Robert Owen Smith sold 3,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $31.19, for a total transaction of $93,570.00. Following the completion of the sale, the executive vice president now owns 82,612 shares of the company’s stock, valued at approximately $2,576,668.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director James G. Jones sold 54,900 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $30.16, for a total transaction of $1,655,784.00. Following the transaction, the director now owns 57,641 shares in the company, valued at $1,738,452.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Robert Owen Smith sold 3,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $31.19, for a total value of $93,570.00. Following the completion of the sale, the executive vice president now owns 82,612 shares of the company’s stock, valued at $2,576,668.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 145,158 shares of company stock valued at $4,395,582. 2.70% of the stock is owned by insiders.

Institutional Investors Weigh In On NMI

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in NMI by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 6,809,208 shares of the financial services provider’s stock worth $202,097,000 after purchasing an additional 225,364 shares in the last quarter. Van Berkom & Associates Inc. increased its holdings in shares of NMI by 7.3% during the third quarter. Van Berkom & Associates Inc. now owns 2,708,797 shares of the financial services provider’s stock worth $73,381,000 after purchasing an additional 185,099 shares during the period. Assenagon Asset Management S.A. raised its position in shares of NMI by 33.1% in the first quarter. Assenagon Asset Management S.A. now owns 1,144,360 shares of the financial services provider’s stock valued at $37,009,000 after buying an additional 284,405 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of NMI by 11.6% in the third quarter. American Century Companies Inc. now owns 988,812 shares of the financial services provider’s stock valued at $26,787,000 after buying an additional 102,857 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of NMI by 9.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 980,783 shares of the financial services provider’s stock valued at $29,110,000 after buying an additional 81,727 shares during the period. Institutional investors and hedge funds 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.