JPMorgan Chase & Co. Boosts NMI (NASDAQ:NMIH) Price Target to $40.00

NMI (NASDAQ:NMIH) had its target price hoisted by JPMorgan Chase & Co. from $36.00 to $40.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on NMIH. StockNews.com raised NMI from a hold rating to a buy rating in a report on Wednesday, June 19th. Truist Financial increased their target price on NMI from $36.00 to $37.00 and gave the stock a buy rating in a report on Wednesday, May 1st. UBS Group lowered NMI from a buy rating to a neutral rating and increased their price target for the stock from $37.00 to $39.00 in a research report on Wednesday, May 22nd. Compass Point increased their price target on NMI from $33.00 to $36.00 and gave the stock a buy rating in a research report on Tuesday, May 7th. Finally, Keefe, Bruyette & Woods increased their price target on NMI from $33.00 to $36.00 and gave the stock a market perform rating in a research report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $36.44.

NMI Trading Up 1.4 %

NMI stock opened at $34.82 on Monday. NMI has a 12 month low of $25.62 and a 12 month high of $34.82. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.20. The business has a 50 day moving average price of $33.24 and a two-hundred day moving average price of $31.32. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 8.62, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09.

NMI (NASDAQ:NMIH) last issued its earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.12. NMI had a return on equity of 18.09% and a net margin of 56.26%. The business had revenue of $156.25 million during the quarter, compared to analysts’ expectations of $133.76 million. During the same period in the prior year, the firm posted $0.88 EPS. NMI’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, equities analysts forecast that NMI will post 4.24 EPS for the current year.

Institutional Investors Weigh In On NMI

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC increased its stake in shares of NMI by 92.7% in the 2nd quarter. CWM LLC now owns 2,974 shares of the financial services provider’s stock valued at $101,000 after buying an additional 1,431 shares during the period. Goldentree Asset Management LP acquired a new stake in shares of NMI in the 1st quarter valued at $22,600,000. Hancock Whitney Corp increased its stake in shares of NMI by 1.6% in the 1st quarter. Hancock Whitney Corp now owns 22,098 shares of the financial services provider’s stock valued at $715,000 after buying an additional 346 shares during the period. Virtus Investment Advisers Inc. increased its stake in shares of NMI by 4.6% in the 1st quarter. Virtus Investment Advisers Inc. now owns 32,106 shares of the financial services provider’s stock valued at $1,038,000 after buying an additional 1,410 shares during the period. Finally, Caxton Associates LP increased its stake in shares of NMI by 82.5% in the 1st quarter. Caxton Associates LP now owns 27,328 shares of the financial services provider’s stock valued at $884,000 after buying an additional 12,350 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.