NMI (NASDAQ:NMIH) Given New $36.00 Price Target at Compass Point

NMI (NASDAQ:NMIH) had its target price raised by Compass Point from $33.00 to $36.00 in a research report report published on Tuesday, Benzinga reports. Compass Point currently has a buy rating on the financial services provider’s stock.

Other research analysts have also issued reports about the company. StockNews.com raised NMI from a hold rating to a buy rating in a report on Friday, May 3rd. Truist Financial boosted their price target on NMI from $36.00 to $37.00 and gave the stock a buy rating in a research report on Wednesday, May 1st. Royal Bank of Canada raised their price objective on NMI from $31.00 to $33.00 and gave the company a sector perform rating in a research note on Thursday, February 15th. Keefe, Bruyette & Woods upped their target price on NMI from $33.00 to $36.00 and gave the stock a market perform rating in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. lifted their price target on shares of NMI from $35.00 to $36.00 and gave the company an overweight rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $35.22.

NMI Price Performance

Shares of NMIH opened at $33.66 on Tuesday. NMI has a 12 month low of $23.63 and a 12 month high of $33.97. The company has a market cap of $2.70 billion, a P/E ratio of 8.33, a PEG ratio of 1.17 and a beta of 1.06. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a fifty day moving average price of $30.74 and a 200 day moving average price of $29.63.

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, beating analysts’ consensus estimates of $0.96 by $0.12. NMI had a net margin of 56.26% and a return on equity of 18.09%. The firm had revenue of $156.25 million during the quarter, compared to analyst estimates of $133.76 million. During the same period in the previous year, the business posted $0.88 EPS. NMI’s revenue was up 14.2% on a year-over-year basis. On average, research analysts forecast that NMI will post 4.18 earnings per share for the current year.

Insider Activity at NMI

In other NMI news, EVP Robert Owen Smith sold 3,000 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other NMI news, 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 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 this link. Also, EVP Mohammad Nawaz Yousaf sold 1,117 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $29.95, for a total transaction of $33,454.15. Following the transaction, the executive vice president now directly owns 32,909 shares of the company’s stock, valued at $985,624.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 145,158 shares of company stock worth $4,395,582. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On NMI

Hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in NMI in the fourth quarter valued at $20,006,000. Assenagon Asset Management S.A. grew its holdings in shares of NMI by 88.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 859,955 shares of the financial services provider’s stock worth $25,523,000 after purchasing an additional 402,793 shares during the last quarter. Vanguard Group Inc. increased its position in shares of NMI by 3.4% during 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. lifted its holdings in NMI by 7.3% during the 3rd quarter. Van Berkom & Associates Inc. now owns 2,708,797 shares of the financial services provider’s stock valued at $73,381,000 after purchasing an additional 185,099 shares during the last quarter. Finally, Comerica Bank acquired a new position in NMI in the third quarter valued at about $4,914,000. 94.12% of the stock is owned by institutional investors and hedge funds.

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.