NMI (NASDAQ:NMIH) Price Target Cut to $47.00 by Analysts at Royal Bank of Canada

NMI (NASDAQ:NMIH) had its target price trimmed by Royal Bank of Canada from $48.00 to $47.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

Several other analysts have also recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of NMI from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Keefe, Bruyette & Woods increased their price objective on shares of NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. Truist Financial increased their price objective on shares of NMI from $37.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com lowered shares of NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, Barclays increased their price objective on shares of NMI from $43.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.29.

NMI Price Performance

NMI stock traded down $0.15 during trading hours on Thursday, hitting $37.10. 560,758 shares of the stock were exchanged, compared to its average volume of 533,727. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a market capitalization of $2.96 billion, a P/E ratio of 8.83, a P/E/G ratio of 0.84 and a beta of 1.13. NMI has a 12 month low of $27.00 and a 12 month high of $42.49. The business’s 50-day moving average is $40.28 and its two-hundred day moving average is $36.76.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.15 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.05. NMI had a net margin of 56.40% and a return on equity of 18.29%. The firm had revenue of $166.09 million for the quarter, compared to analysts’ expectations of $164.59 million. Equities research analysts expect that NMI will post 4.5 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider William J. Leatherberry sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total transaction of $120,210.00. Following the sale, the insider now directly owns 153,689 shares in the company, valued at $6,158,318.23. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position 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 acquiring an additional 358,930 shares during the period. Van Berkom & Associates Inc. boosted its holdings in shares of NMI by 2.1% during the 2nd quarter. Van Berkom & Associates Inc. now owns 2,451,743 shares of the financial services provider’s stock worth $83,457,000 after buying an additional 51,194 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of NMI by 38.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,942,428 shares of the financial services provider’s stock worth $80,009,000 after buying an additional 534,818 shares during the period. American Century Companies Inc. boosted its holdings in shares of NMI by 18.4% during the 2nd quarter. American Century Companies Inc. now owns 1,617,601 shares of the financial services provider’s stock worth $55,063,000 after buying an additional 251,664 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of NMI by 34.8% during the 2nd quarter. Millennium Management LLC now owns 1,020,415 shares of the financial services provider’s stock worth $34,735,000 after buying an additional 263,478 shares during the period. 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.