NMI Holdings Inc (NASDAQ:NMIH) Given Consensus Recommendation of “Moderate Buy” by Analysts

NMI Holdings Inc (NASDAQ:NMIH) has received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $48.3333.

Several analysts recently commented on NMIH shares. JPMorgan Chase & Co. increased their target price on shares of NMI from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Truist Financial lifted their price target on shares of NMI from $49.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $47.00 price target on shares of NMI in a report on Monday, August 3rd. UBS Group set a $46.00 price objective on NMI in a research report on Friday, May 22nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $53.00 price objective on shares of NMI in a research note on Tuesday, August 4th.

NMI Price Performance

Shares of NMI stock opened at $42.90 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average price is $44.03 and its two-hundred day moving average price is $40.35. NMI has a 52 week low of $34.84 and a 52 week high of $46.74. The stock has a market cap of $3.23 billion, a PE ratio of 8.44, a price-to-earnings-growth ratio of 1.16 and a beta of 0.53.

NMI (NASDAQ:NMIH) last posted its quarterly earnings data on Thursday, July 30th. The financial services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.10. NMI had a net margin of 54.10% and a return on equity of 15.13%. The company had revenue of $187.89 million during the quarter, compared to analyst estimates of $156.26 million. During the same quarter last year, the firm posted $1.22 EPS. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, sell-side analysts anticipate that NMI will post 5.25 EPS for the current fiscal year.

Insider Transactions at NMI

In related news, EVP Aurora Swithenbank sold 11,662 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $44.51, for a total value of $519,075.62. Following the completion of the transaction, the executive vice president owned 50,734 shares in the company, valued at $2,258,170.34. This trade represents a 18.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Robert Smith sold 12,000 shares of NMI stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $44.65, for a total value of $535,800.00. Following the completion of the transaction, the executive vice president directly owned 96,381 shares in the company, valued at $4,303,411.65. This represents a 11.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 196,368 shares of company stock valued at $8,800,740 over the last three months. Company insiders own 2.44% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. WINTON GROUP Ltd raised its holdings in shares of NMI by 96.0% during the second quarter. WINTON GROUP Ltd now owns 24,747 shares of the financial services provider’s stock valued at $1,017,000 after acquiring an additional 12,120 shares during the period. Integrated Wealth Concepts LLC acquired a new position in NMI in the 2nd quarter worth approximately $122,000. NewEdge Advisors LLC grew its position in NMI by 7.5% during the 2nd quarter. NewEdge Advisors LLC now owns 18,050 shares of the financial services provider’s stock worth $742,000 after purchasing an additional 1,252 shares in the last quarter. Allworth Financial LP grew its position in NMI by 44.3% during the 2nd quarter. Allworth Financial LP now owns 2,184 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 670 shares in the last quarter. Finally, Nykredit A S acquired a new stake in NMI during the 2nd quarter valued at $31,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.

About NMI

NMI Holdings, Inc (NASDAQ: NMIH) is the parent company of National MI, a provider of private mortgage insurance in the United States. Through its insurance subsidiaries, the company offers mortgage insurance to lenders and other mortgage market participants, helping protect against losses when borrowers default on residential home loans.

National MI’s products support conventional residential mortgages, including borrower-paid and lender-paid mortgage insurance arrangements. Its coverage is generally used when a homebuyer makes a down payment of less than 20%, enabling lenders to extend mortgage credit while reducing their exposure to potential default-related losses.