NMI (NASDAQ:NMIH - Get Free Report) had its price target dropped by stock analysts at Royal Bank of Canada from $48.00 to $47.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Royal Bank of Canada's price target indicates a potential upside of 26.17% from the stock's current price.
Several other analysts have also recently commented on the company. StockNews.com cut NMI from a "buy" rating to a "hold" rating in a research report on Wednesday, August 21st. Truist Financial increased their target price on shares of NMI from $37.00 to $47.00 and gave the stock a "buy" rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods boosted their price target on shares of NMI from $37.00 to $40.00 and gave the stock a "market perform" rating in a research note on Thursday, August 1st. Barclays increased their price objective on NMI from $43.00 to $48.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. boosted their target price on NMI from $42.00 to $46.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, NMI has an average rating of "Moderate Buy" and a consensus target price of $43.29.
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NMI Price Performance
Shares of NMIH stock traded down $2.03 during mid-day trading on Thursday, hitting $37.25. 932,272 shares of the stock were exchanged, compared to its average volume of 533,602. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.20. NMI has a 52-week low of $27.00 and a 52-week high of $42.49. The firm has a fifty day moving average of $40.28 and a 200 day moving average of $36.76. The company has a market cap of $2.97 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 0.84 and a beta of 1.13.
NMI (NASDAQ:NMIH - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.05. The firm had revenue of $166.09 million for the quarter, compared to analysts' expectations of $164.59 million. NMI had a net margin of 56.40% and a return on equity of 18.29%. Research analysts anticipate that NMI will post 4.5 earnings per share for the current year.
Insider Activity
In other NMI news, insider William J. Leatherberry sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total transaction of $120,210.00. Following the completion of the sale, the insider now directly owns 153,689 shares of the company's stock, valued at approximately $6,158,318.23. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company's stock.
Institutional Investors Weigh In On NMI
A number of hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of NMI by 57.2% during the 3rd quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider's stock worth $30,000 after buying an additional 265 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in NMI in the second quarter valued at about $29,000. Quarry LP lifted its position in shares of NMI by 135.1% during the 2nd quarter. Quarry LP now owns 858 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 493 shares during the period. USA Financial Formulas acquired a new stake in shares of NMI during the 3rd quarter valued at approximately $57,000. Finally, Picton Mahoney Asset Management purchased a new stake in shares of NMI during the 2nd quarter worth approximately $63,000. Institutional investors and hedge funds own 94.12% of the company's stock.
NMI Company Profile
(
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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.
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