NMI (NASDAQ:NMIH) Given New $41.00 Price Target at JPMorgan Chase & Co.

NMI (NASDAQ:NMIH - Get Free Report) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $42.00 to $41.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "overweight" rating on the financial services provider's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 20.80% from the stock's previous close.

Other analysts have also recently issued research reports about the company. UBS Group lowered their price objective on NMI from $42.00 to $41.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Barclays lowered NMI from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $48.00 to $41.00 in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods raised shares of NMI from a "market perform" rating to an "outperform" rating and set a $43.00 price objective for the company in a research report on Monday, February 24th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $42.14.

Remove Ads

NMI Stock Up 2.1 %

Shares of NASDAQ NMIH traded up $0.71 during mid-day trading on Tuesday, reaching $33.94. 469,054 shares of the company were exchanged, compared to its average volume of 523,364. The firm has a 50-day moving average of $35.48 and a 200 day moving average of $37.44. NMI has a 1 year low of $29.05 and a 1 year high of $42.49. The company has a quick ratio of 0.83, a current ratio of 0.60 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 7.66, a P/E/G ratio of 1.41 and a beta of 0.62.

NMI (NASDAQ:NMIH - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.14 by ($0.07). NMI had a return on equity of 17.33% and a net margin of 55.32%. On average, research analysts expect that NMI will post 4.62 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Norman Peter Fitzgerald sold 20,000 shares of NMI stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $35.88, for a total transaction of $717,600.00. Following the completion of the transaction, the executive vice president now directly owns 37,470 shares in the company, valued at approximately $1,344,423.60. This trade represents a 34.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $35.44, for a total transaction of $38,381.52. Following the completion of the transaction, the executive vice president now owns 49,218 shares of the company's stock, valued at approximately $1,744,285.92. This represents a 2.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Securities Inc. raised its position in shares of NMI by 66.5% in the fourth quarter. Principal Securities Inc. now owns 716 shares of the financial services provider's stock valued at $26,000 after buying an additional 286 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in NMI by 288.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,868 shares of the financial services provider's stock valued at $69,000 after acquiring an additional 1,387 shares during the last quarter. Covestor Ltd lifted its stake in NMI by 601.1% in the 4th quarter. Covestor Ltd now owns 1,893 shares of the financial services provider's stock worth $70,000 after purchasing an additional 1,623 shares in the last quarter. Sterling Capital Management LLC boosted its holdings in shares of NMI by 786.1% during the 4th quarter. Sterling Capital Management LLC now owns 2,295 shares of the financial services provider's stock worth $84,000 after purchasing an additional 2,036 shares during the last quarter. Finally, KBC Group NV grew its position in shares of NMI by 38.3% in the fourth quarter. KBC Group NV now owns 3,221 shares of the financial services provider's stock valued at $118,000 after purchasing an additional 892 shares in the last quarter. Hedge funds and other 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.