NMI (NASDAQ:NMIH) Hits New 12-Month High at $36.11

NMI Holdings, Inc. (NASDAQ:NMIH)’s stock price reached a new 52-week high on Monday . The stock traded as high as $36.11 and last traded at $36.05, with a volume of 11186 shares traded. The stock had previously closed at $35.56.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. StockNews.com downgraded NMI from a “buy” rating to a “hold” rating in a research report on Thursday. Keefe, Bruyette & Woods raised their price target on NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, April 4th. Compass Point raised their price target on NMI from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Truist Financial raised their price target on NMI from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Barclays raised their price target on NMI from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, NMI currently has an average rating of “Moderate Buy” and a consensus price target of $36.44.

NMI Trading Up 1.7 %

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The company has a fifty day simple moving average of $33.36 and a 200-day simple moving average of $31.40. The company has a market capitalization of $2.90 billion, a PE ratio of 8.80, a PEG ratio of 1.22 and a beta of 1.09.

NMI (NASDAQ:NMIH) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.12. NMI had a return on equity of 18.09% and a net margin of 56.26%. The company 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. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. Analysts predict that NMI Holdings, Inc. will post 4.24 EPS for the current year.

Hedge Funds Weigh In On NMI

Several large investors have recently modified their holdings of NMIH. Capital International Investors acquired a new position in NMI during the 1st quarter worth about $32,270,000. Goldentree Asset Management LP purchased a new position in NMI during the 1st quarter worth approximately $22,600,000. Norges Bank purchased a new position in NMI during the 4th quarter worth approximately $20,006,000. Assenagon Asset Management S.A. grew its stake in NMI by 88.1% during 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 buying an additional 402,793 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in NMI by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 7,168,138 shares of the financial services provider’s stock worth $231,818,000 after buying an additional 358,930 shares during the last quarter. Institutional investors and hedge funds own 94.12% of the company’s stock.

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.