Analysts Set NMI Holdings, Inc. (NASDAQ:NMIH) Price Target at $40.00

Shares of NMI Holdings, Inc. (NASDAQ:NMIH) have received an average recommendation of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $40.00.

NMIH has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price target on NMI from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. UBS Group lowered NMI from a “buy” rating to a “neutral” rating and increased their target price for the company from $37.00 to $39.00 in a research report on Wednesday, May 22nd. StockNews.com lowered shares of NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. 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. Finally, Barclays boosted their target price on shares of NMI from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st.

NMI Price Performance

Shares of NASDAQ NMIH opened at $41.15 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $3.30 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 0.89 and a beta of 1.12. The firm’s 50 day simple moving average is $38.68 and its 200-day simple moving average is $34.34. NMI has a 12 month low of $25.62 and a 12 month high of $42.09.

NMI (NASDAQ:NMIH) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share 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 company had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $138.49 million. During the same quarter in the previous year, the company earned $0.95 earnings per share. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. Analysts expect that NMI will post 4.5 EPS for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On NMI

A number of institutional investors have recently bought and sold shares of the company. UniSuper Management Pty Ltd acquired a new stake in shares of NMI during the 1st quarter worth approximately $507,000. First Eagle Investment Management LLC increased its stake in NMI by 17.6% during the first quarter. First Eagle Investment Management LLC now owns 403,019 shares of the financial services provider’s stock worth $13,034,000 after acquiring an additional 60,200 shares during the last quarter. Leuthold Group LLC purchased a new stake in NMI in the first quarter valued at $2,987,000. Panagora Asset Management Inc. lifted its stake in shares of NMI by 7.5% in the 4th quarter. Panagora Asset Management Inc. now owns 497,427 shares of the financial services provider’s stock valued at $14,764,000 after purchasing an additional 34,620 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of NMI in the 4th quarter valued at $20,006,000. 94.12% of the stock is 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.