NMI Holdings, Inc. (NASDAQ:NMIH) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of NMI Holdings, Inc. (NASDAQ:NMIH) have received an average recommendation of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $35.56.

Several analysts recently issued reports on the stock. StockNews.com upgraded shares of NMI from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Compass Point boosted their price objective on NMI from $33.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. Truist Financial lifted their price target on NMI from $36.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods increased their price objective on NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. boosted their target price on shares of NMI from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st.

NMI Price Performance

NASDAQ NMIH opened at $34.25 on Friday. NMI has a fifty-two week low of $24.83 and a fifty-two week high of $34.58. The stock’s 50-day moving average is $32.85 and its two-hundred day moving average is $31.13. The firm has a market cap of $2.75 billion, a P/E ratio of 8.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.89 and a quick ratio of 0.89.

NMI (NASDAQ:NMIH) last posted its earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share for the quarter, topping 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 firm had revenue of $156.25 million during the quarter, compared to analyst estimates of $133.76 million. During the same period in the previous year, the company earned $0.88 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, analysts anticipate that NMI will post 4.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NMI

Hedge funds have recently modified their holdings of the stock. Capital International Investors bought a new stake in NMI in the first quarter valued at $32,270,000. Goldentree Asset Management LP acquired a new stake in shares of NMI in the 1st quarter valued at $22,600,000. Norges Bank bought a new stake in shares of NMI in the 4th quarter worth about $20,006,000. Assenagon Asset Management S.A. increased its position in shares of 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 purchasing an additional 402,793 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings 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 valued at $231,818,000 after purchasing an additional 358,930 shares during the last quarter. 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.