Analysts Set NMI Holdings, Inc. (NASDAQ:NMIH) PT at $42.00

Shares of NMI Holdings, Inc. (NASDAQ:NMIH) have received a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $42.00.

Several analysts recently weighed in on the company. Royal Bank of Canada decreased their target price on NMI from $48.00 to $47.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Barclays downgraded NMI from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $48.00 to $41.00 in a research report on Monday, January 6th. Keefe, Bruyette & Woods reduced their price objective on NMI from $44.00 to $43.00 and set a “market perform” rating for the company in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. reduced their price objective on NMI from $46.00 to $41.00 and set an “overweight” rating for the company in a research report on Monday, December 9th.

Hedge Funds Weigh In On NMI

A number of hedge funds have recently modified their holdings of NMIH. Donald Smith & CO. Inc. acquired a new position in shares of NMI in the 2nd quarter worth approximately $29,708,000. Assenagon Asset Management S.A. raised its holdings in shares of NMI by 38.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,942,428 shares of the financial services provider’s stock worth $80,009,000 after buying an additional 534,818 shares in the last quarter. Barclays PLC raised its holdings in shares of NMI by 264.4% in the 3rd quarter. Barclays PLC now owns 386,999 shares of the financial services provider’s stock worth $15,940,000 after buying an additional 280,809 shares in the last quarter. Millennium Management LLC raised its holdings in shares of NMI by 34.8% in the 2nd quarter. Millennium Management LLC now owns 1,020,415 shares of the financial services provider’s stock worth $34,735,000 after buying an additional 263,478 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of NMI by 18.4% in the 2nd quarter. American Century Companies Inc. now owns 1,617,601 shares of the financial services provider’s stock worth $55,063,000 after buying an additional 251,664 shares in the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

NMI Stock Performance

NMIH opened at $37.48 on Tuesday. The company has a market cap of $2.97 billion, a PE ratio of 8.58, a price-to-earnings-growth ratio of 0.82 and a beta of 1.12. The stock has a 50-day moving average of $37.65 and a 200-day moving average of $38.47. NMI has a 52-week low of $28.73 and a 52-week high of $42.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.83 and a current ratio of 0.83.

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.