Brokerages Set NMI Holdings, Inc. (NASDAQ:NMIH) PT at $40.00

NMI Holdings, Inc. (NASDAQ:NMIH) has earned a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $40.00.

A number of research firms have recently weighed in on NMIH. JPMorgan Chase & Co. raised their target price on NMI from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Truist Financial lifted their price target on NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. UBS Group lowered NMI from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $37.00 to $39.00 in a report on Wednesday, May 22nd. StockNews.com lowered NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, Royal Bank of Canada lifted their price target on NMI from $34.00 to $40.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 31st.

Insider Activity

In other news, Director Michael J. Embler sold 26,008 shares of NMI stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total value of $1,023,414.80. Following the completion of the transaction, the director now directly owns 61,607 shares in the company, valued at $2,424,235.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Michael J. Embler sold 26,008 shares of NMI stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $39.35, for a total value of $1,023,414.80. Following the completion of the transaction, the director now directly owns 61,607 shares in the company, valued at $2,424,235.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William J. Leatherberry sold 3,000 shares of NMI stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total value of $120,210.00. Following the completion of the transaction, the insider now owns 153,689 shares of the company’s stock, valued at $6,158,318.23. The disclosure for this sale can be found here. 2.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On NMI

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC purchased a new position in NMI during the second quarter worth about $29,000. Quarry LP grew its position in NMI by 135.1% during the second quarter. Quarry LP now owns 858 shares of the financial services provider’s stock worth $29,000 after buying an additional 493 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in NMI during the first quarter worth about $31,000. TFO Wealth Partners LLC grew its position in NMI by 24,500.0% during 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 in the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in NMI during the second quarter worth about $63,000. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

NMI Stock Up 3.4 %

Shares of NASDAQ:NMIH opened at $41.07 on Wednesday. The business’s 50 day simple moving average is $38.39 and its two-hundred day simple moving average is $34.12. The firm has a market cap of $3.27 billion, a P/E ratio of 10.17, a PEG ratio of 0.89 and a beta of 1.12. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.67 and a current ratio of 0.67. NMI has a 52-week low of $25.62 and a 52-week high of $42.06.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.15. The business had revenue of $162.12 million for the quarter, compared to analyst estimates of $138.49 million. NMI had a return on equity of 18.29% and a net margin of 56.40%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 earnings per share. As a group, research analysts forecast that NMI will post 4.5 EPS for the current fiscal year.

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.