NMI (NASDAQ:NMIH) Sets New 52-Week High at $42.06

NMI Holdings, Inc. (NASDAQ:NMIH)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $42.06 and last traded at $41.97, with a volume of 201342 shares changing hands. The stock had previously closed at $40.91.

Analyst Upgrades and Downgrades

NMIH has been the subject of a number of recent research reports. Compass Point upped their price target on NMI from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. lifted their price objective on NMI from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Truist Financial increased their price target on shares of NMI from $37.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods raised their price target on NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a research note on Thursday, August 1st. Finally, StockNews.com cut NMI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

NMI Price Performance

The firm has a 50-day simple moving average of $37.34 and a 200-day simple moving average of $33.55. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.34 billion, a P/E ratio of 10.30, a PEG ratio of 0.93 and a beta of 1.09.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. NMI had a net margin of 56.40% and a return on equity of 18.29%. The firm had revenue of $162.12 million for the quarter, compared to analysts’ expectations of $138.49 million. During the same quarter last year, the company earned $0.95 EPS. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, analysts forecast that NMI Holdings, Inc. will post 4.5 EPS for the current year.

Insider Transactions at NMI

In related news, insider William J. Leatherberry sold 3,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total value of $120,210.00. Following the transaction, the insider now owns 153,689 shares of the company’s stock, valued at $6,158,318.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Michael J. Embler sold 26,008 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total value of $1,023,414.80. Following the sale, the director now directly owns 61,607 shares in the company, valued at approximately $2,424,235.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider William J. Leatherberry sold 3,000 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total value of $120,210.00. Following the sale, the insider now owns 153,689 shares in the company, valued at approximately $6,158,318.23. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On NMI

Large investors have recently added to or reduced their stakes in the business. Hancock Whitney Corp lifted its stake in shares of NMI by 1.6% during the first quarter. Hancock Whitney Corp now owns 22,098 shares of the financial services provider’s stock worth $715,000 after purchasing an additional 346 shares in the last quarter. Quadrant Capital Group LLC grew its stake in NMI by 6.1% in the fourth quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider’s stock worth $180,000 after purchasing an additional 350 shares in the last quarter. Quarry LP increased its holdings in shares of NMI by 135.1% in 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 last quarter. Federated Hermes Inc. raised its holdings in shares of NMI by 1.8% during the second quarter. Federated Hermes Inc. now owns 33,570 shares of the financial services provider’s stock worth $1,143,000 after purchasing an additional 593 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in NMI by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 7,888 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 666 shares during the last quarter. 94.12% of the stock is currently owned by hedge funds and other institutional investors.

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.