NMI Holdings Inc (NASDAQ:NMIH) Receives $42.33 Consensus Price Target from Analysts

Shares of NMI Holdings Inc (NASDAQ:NMIH) have earned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $42.3333.

A number of equities research analysts have issued reports on NMIH shares. Wall Street Zen lowered shares of NMI from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of NMI in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lowered shares of NMI from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $42.00 to $43.00 in a report on Monday, July 7th. JPMorgan Chase & Co. reduced their target price on shares of NMI from $44.00 to $43.00 and set an “overweight” rating on the stock in a report on Tuesday, October 7th. Finally, Barclays restated a “cautious” rating on shares of NMI in a report on Monday, October 6th.

NMI Stock Performance

Shares of NMIH stock opened at $35.77 on Thursday. The firm’s 50 day moving average price is $38.54 and its 200-day moving average price is $38.14. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74. NMI has a one year low of $31.90 and a one year high of $43.20. The firm has a market cap of $2.77 billion, a P/E ratio of 7.59, a P/E/G ratio of 1.03 and a beta of 0.56.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $1.16 by $0.06. The firm had revenue of $149.07 million for the quarter, compared to analyst estimates of $173.39 million. NMI had a net margin of 55.57% and a return on equity of 16.51%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.20 EPS. As a group, equities research analysts predict that NMI will post 4.62 EPS for the current year.

Insider Buying and Selling at NMI

In other news, Director Steven Scheid sold 19,926 shares of the firm’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $39.31, for a total value of $783,291.06. Following the sale, the director directly owned 78,960 shares in the company, valued at approximately $3,103,917.60. This trade represents a 20.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On NMI

A number of hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. raised its holdings in shares of NMI by 4.1% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,661 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 264 shares in the last quarter. Xponance Inc. grew its position in shares of NMI by 5.0% in the 1st quarter. Xponance Inc. now owns 5,917 shares of the financial services provider’s stock valued at $213,000 after buying an additional 281 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in shares of NMI by 51.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 856 shares of the financial services provider’s stock valued at $33,000 after buying an additional 291 shares during the last quarter. Covestor Ltd grew its position in shares of NMI by 15.7% in the 1st quarter. Covestor Ltd now owns 2,190 shares of the financial services provider’s stock valued at $79,000 after buying an additional 297 shares during the last quarter. Finally, California State Teachers Retirement System grew its position in shares of NMI by 0.5% in the 2nd quarter. California State Teachers Retirement System now owns 70,112 shares of the financial services provider’s stock valued at $2,958,000 after buying an additional 328 shares during the last quarter. 94.12% of the stock is currently 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.