Barclays Cuts NMI (NASDAQ:NMIH) Price Target to $43.00
by Danessa Lincoln · The Markets DailyNMI (NASDAQ:NMIH – Free Report) had its price objective trimmed by Barclays from $44.00 to $43.00 in a research report report published on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.
A number of other research analysts have also commented on the company. JPMorgan Chase & Co. increased their price objective on NMI from $42.00 to $43.00 and gave the company an “overweight” rating in a report on Monday, January 12th. Weiss Ratings reissued a “buy (b)” rating on shares of NMI in a report on Thursday, January 22nd. UBS Group set a $43.00 price objective on NMI in a report on Monday, January 12th. Finally, Keefe, Bruyette & Woods raised NMI from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $46.00 to $48.00 in a report on Thursday, December 18th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, NMI currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.80.
Read Our Latest Stock Analysis on NMIH
NMI Trading Up 1.9%
Shares of NASDAQ NMIH opened at $38.91 on Monday. NMI has a 12 month low of $31.90 and a 12 month high of $43.20. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 7.92, a P/E/G ratio of 1.03 and a beta of 0.64. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $38.62 and a 200-day simple moving average of $38.32.
NMI (NASDAQ:NMIH – Get Free Report) last announced its earnings results on Tuesday, February 10th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.17 by $0.03. NMI had a return on equity of 15.78% and a net margin of 55.05%.The business had revenue of $180.74 million during the quarter, compared to the consensus estimate of $180.69 million. During the same period in the prior year, the business posted $1.07 earnings per share. Sell-side analysts predict that NMI will post 4.62 EPS for the current year.
Insiders Place Their Bets
In other NMI news, EVP Mohammad Nawaz Yousaf sold 16,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $39.89, for a total value of $638,240.00. Following the completion of the sale, the executive vice president owned 38,733 shares in the company, valued at approximately $1,545,059.37. This trade represents a 29.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Norman Peter Fitzgerald sold 22,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $39.94, for a total value of $898,650.00. Following the completion of the sale, the executive vice president owned 32,445 shares of the company’s stock, valued at $1,295,853.30. This represents a 40.95% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 189,412 shares of company stock worth $7,357,746. 3.00% of the stock is currently owned by company insiders.
Institutional Trading of NMI
A number of hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in shares of NMI by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,317,436 shares of the financial services provider’s stock worth $176,111,000 after acquiring an additional 28,569 shares during the period. American Century Companies Inc. lifted its position in shares of NMI by 5.8% in the 3rd quarter. American Century Companies Inc. now owns 2,379,801 shares of the financial services provider’s stock worth $91,242,000 after acquiring an additional 130,002 shares during the period. Van Berkom & Associates Inc. lifted its position in shares of NMI by 5.6% in the 4th quarter. Van Berkom & Associates Inc. now owns 2,016,030 shares of the financial services provider’s stock worth $82,234,000 after acquiring an additional 106,400 shares during the period. Geode Capital Management LLC lifted its position in shares of NMI by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,982,722 shares of the financial services provider’s stock worth $80,887,000 after acquiring an additional 5,274 shares during the period. Finally, Frontier Capital Management Co. LLC lifted its position in shares of NMI by 3.9% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,119,957 shares of the financial services provider’s stock worth $47,251,000 after acquiring an additional 42,436 shares during the period. Institutional investors own 94.12% of the company’s stock.
About NMI
NMI Holdings, Inc (NASDAQ: NMIH) is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher‐loan‐to‐value mortgages, the company supports homebuyers’ access to financing and contributes to overall market liquidity.
Beyond its core mortgage insurance products, NMI offers credit risk‐sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.