JPMorgan Chase & Co. Cuts NMI (NASDAQ:NMIH) Price Target to $41.00

NMI (NASDAQ:NMIH) had its target price decreased by JPMorgan Chase & Co. from $42.00 to $41.00 in a research note issued to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.

A number of other equities research analysts also recently weighed in on NMIH. Keefe, Bruyette & Woods raised shares of NMI from a “market perform” rating to an “outperform” rating and set a $43.00 price target for the company in a report on Monday, February 24th. Barclays lowered shares of NMI from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $48.00 to $41.00 in a research note on Monday, January 6th. Finally, UBS Group decreased their price target on shares of NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $42.14.

NMI Trading Down 4.0 %

NMI stock opened at $33.23 on Tuesday. NMI has a 12-month low of $29.05 and a 12-month high of $42.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.60 and a quick ratio of 0.83. The stock has a market capitalization of $2.60 billion, a PE ratio of 7.50, a price-to-earnings-growth ratio of 1.41 and a beta of 0.62. The firm has a 50 day simple moving average of $35.58 and a 200-day simple moving average of $37.49.

NMI (NASDAQ:NMIH) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.07). NMI had a net margin of 55.32% and a return on equity of 17.33%. As a group, equities research analysts expect that NMI will post 4.62 EPS for the current fiscal year.

Insider Activity at NMI

In other news, EVP Mohammad Nawaz Yousaf sold 1,083 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $35.44, for a total value of $38,381.52. Following the transaction, the executive vice president now owns 49,218 shares in the company, valued at $1,744,285.92. This represents a 2.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Norman Peter Fitzgerald sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $35.88, for a total transaction of $717,600.00. Following the transaction, the executive vice president now directly owns 37,470 shares in the company, valued at $1,344,423.60. The trade was a 34.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Institutional Investors Weigh In On NMI

Several large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of NMI in the 4th quarter valued at $13,174,000. Raymond James Financial Inc. bought a new stake in NMI during the fourth quarter worth approximately $13,136,000. Donald Smith & CO. Inc. grew its holdings in NMI by 34.8% during the fourth quarter. Donald Smith & CO. Inc. now owns 1,307,868 shares of the financial services provider’s stock valued at $48,077,000 after purchasing an additional 337,996 shares during the last quarter. Barclays PLC raised its position in shares of NMI by 264.4% in the third quarter. Barclays PLC now owns 386,999 shares of the financial services provider’s stock valued at $15,940,000 after purchasing an additional 280,809 shares during the period. Finally, abrdn plc acquired a new stake in shares of NMI in the fourth quarter worth $8,122,000. Institutional investors own 94.12% of the company’s stock.

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.