NMI (NASDAQ:NMIH) Price Target Increased to $47.00 by Analysts at Truist Financial

NMI (NASDAQ:NMIH) had its target price lifted by Truist Financial from $37.00 to $47.00 in a report released on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on NMIH. Barclays lifted their price target on shares of NMI from $40.00 to $41.00 and gave the company an overweight rating in a report on Tuesday, July 9th. UBS Group downgraded shares of NMI from a buy rating to a neutral rating and lifted their price target for the company from $37.00 to $39.00 in a report on Wednesday, May 22nd. JPMorgan Chase & Co. lifted their price objective on shares of NMI from $36.00 to $40.00 and gave the stock an overweight rating in a research note on Monday, July 8th. Keefe, Bruyette & Woods lifted their price objective on shares of NMI from $33.00 to $36.00 and gave the stock a market perform rating in a research note on Thursday, April 4th. Finally, Compass Point lifted their price target on shares of NMI from $33.00 to $36.00 and gave the stock a buy rating in a research note on Tuesday, May 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, NMI presently has a consensus rating of Moderate Buy and an average target price of $40.00.

NMI Stock Down 1.4 %

Shares of NMIH stock opened at $37.69 on Wednesday. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 9.33, a PEG ratio of 0.94 and a beta of 1.09. NMI has a one year low of $25.62 and a one year high of $42.01. The company’s fifty day moving average price is $34.78 and its 200-day moving average price is $32.30. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.67 and a quick ratio of 0.89.

NMI (NASDAQ:NMIH) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.05 by $0.15. The firm had revenue of $162.12 million for the quarter, compared to the consensus estimate of $138.49 million. NMI had a net margin of 56.40% and a return on equity of 18.29%. The company’s revenue was up 13.6% on a year-over-year basis. During the same period last year, the firm earned $0.95 EPS. Sell-side analysts expect that NMI will post 4.33 EPS for the current fiscal year.

Insider Buying and Selling at NMI

In other news, insider William J. Leatherberry 44,725 shares of the business’s stock in a transaction dated Wednesday, July 31st. The was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Michael J. Embler sold 26,008 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total value of $1,023,414.80. Following the completion of the sale, the director now owns 61,607 shares in the company, valued at approximately $2,424,235.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider William J. Leatherberry 44,725 shares of the firm’s stock in a transaction on Wednesday, July 31st. The disclosure for this trade can be found here. 2.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NMI

Several large investors have recently modified their holdings of NMIH. Capital International Investors bought a new stake in shares of NMI in the 1st quarter valued at about $32,270,000. Goldentree Asset Management LP bought a new stake in shares of NMI in the 1st quarter valued at about $22,600,000. Norges Bank bought a new stake in shares of NMI in the 4th quarter valued at about $20,006,000. F M Investments LLC bought a new stake in shares of NMI in the 2nd quarter valued at about $12,447,000. Finally, Vanguard Group Inc. raised its holdings in shares of NMI by 5.3% in 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 in the last quarter. Institutional investors own 94.12% of the company’s stock.

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.