NMI (NASDAQ:NMIH) Given New $36.00 Price Target at JPMorgan Chase & Co.

NMI (NASDAQ:NMIH) had its price target boosted by JPMorgan Chase & Co. from $35.00 to $36.00 in a research note released on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

Several other brokerages also recently issued reports on NMIH. Truist Financial boosted their price target on shares of NMI from $36.00 to $37.00 and gave the company a buy rating in a report on Wednesday. Keefe, Bruyette & Woods boosted their target price on shares of NMI from $33.00 to $36.00 and gave the company a market perform rating in a research note on Thursday, April 4th. StockNews.com lowered shares of NMI from a buy rating to a hold rating in a research note on Thursday, March 21st. Finally, Royal Bank of Canada lifted their price target on NMI from $31.00 to $33.00 and gave the company a sector perform rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, NMI has an average rating of Moderate Buy and a consensus price target of $34.67.

NMI Price Performance

Shares of NASDAQ:NMIH opened at $31.65 on Wednesday. The company has a market cap of $2.55 billion, a PE ratio of 7.83, a P/E/G ratio of 1.14 and a beta of 1.06. NMI has a fifty-two week low of $22.40 and a fifty-two week high of $32.66. The firm has a 50-day simple moving average of $30.45 and a 200 day simple moving average of $29.47. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.21.

NMI (NASDAQ:NMIH) last announced its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.12. NMI had a return on equity of 18.48% and a net margin of 56.26%. The business had revenue of $156.25 million for the quarter, compared to analysts’ expectations of $133.76 million. During the same period in the prior year, the firm earned $0.88 EPS. The business’s quarterly revenue was up 14.2% on a year-over-year basis. On average, sell-side analysts anticipate that NMI will post 4.05 EPS for the current year.

Insider Activity

In related news, EVP Mohammad Nawaz Yousaf sold 1,117 shares of NMI 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Mohammad Nawaz Yousaf sold 1,117 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $29.95, for a total transaction of $33,454.15. Following the completion of the sale, the executive vice president now directly owns 32,909 shares of the company’s stock, valued at $985,624.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Nicholas Daniel Realmuto sold 1,249 shares of NMI stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $30.23, for a total transaction of $37,757.27. Following the completion of the transaction, the vice president now owns 10,455 shares in the company, valued at approximately $316,054.65. The disclosure for this sale can be found here. Insiders sold a total of 145,158 shares of company stock worth $4,395,582 over the last 90 days. 2.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NMI

A number of institutional investors and hedge funds have recently modified their holdings of NMIH. Quadrant Capital Group LLC increased its stake in NMI by 6.1% in the 4th quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 350 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of NMI by 0.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 48,423 shares of the financial services provider’s stock worth $1,437,000 after acquiring an additional 388 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of NMI by 5.0% during the third quarter. Hsbc Holdings PLC now owns 11,765 shares of the financial services provider’s stock valued at $323,000 after acquiring an additional 565 shares during the period. Cerity Partners LLC lifted its position in shares of NMI by 5.9% in the 4th quarter. Cerity Partners LLC now owns 11,567 shares of the financial services provider’s stock valued at $343,000 after acquiring an additional 644 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in NMI by 3.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,692 shares of the financial services provider’s stock worth $555,000 after purchasing an additional 663 shares during the period. 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.