NMI (NASDAQ:NMIH) Hits New 1-Year High at $34.39

NMI Holdings, Inc. (NASDAQ:NMIH) hit a new 52-week high during trading on Monday . The company traded as high as $34.39 and last traded at $33.64, with a volume of 42772 shares trading hands. The stock had previously closed at $34.04.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NMIH. JPMorgan Chase & Co. upped their target price on NMI from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. 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. Keefe, Bruyette & Woods increased their target price on NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a report on Thursday, April 4th. Truist Financial increased their target price on NMI from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, StockNews.com upgraded NMI from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, NMI presently has a consensus rating of “Moderate Buy” and an average price target of $35.56.

NMI Stock Performance

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.20. The stock has a 50 day simple moving average of $32.71 and a two-hundred day simple moving average of $31.06. The stock has a market capitalization of $2.73 billion, a P/E ratio of 8.43, a P/E/G ratio of 1.16 and a beta of 1.09.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.12. The firm had revenue of $156.25 million during the quarter, compared to the consensus estimate of $133.76 million. NMI had a return on equity of 18.09% and a net margin of 56.26%. The business’s revenue was up 14.2% compared to the same quarter last year. During the same period last year, the company earned $0.88 earnings per share. On average, equities analysts forecast that NMI Holdings, Inc. will post 4.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC lifted its holdings in NMI by 426.0% during the 3rd quarter. Lazard Asset Management LLC now owns 52,255 shares of the financial services provider’s stock worth $1,414,000 after purchasing an additional 42,321 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of NMI by 7.5% during the 4th quarter. Panagora Asset Management Inc. now owns 497,427 shares of the financial services provider’s stock worth $14,764,000 after buying an additional 34,620 shares in the last quarter. Norges Bank acquired a new position in shares of NMI during the 4th quarter worth $20,006,000. Eagle Asset Management Inc. acquired a new position in shares of NMI during the 4th quarter worth $5,045,000. Finally, Tudor Investment Corp Et Al raised its holdings in shares of NMI by 223.8% during the 3rd quarter. Tudor Investment Corp Et Al now owns 205,640 shares of the financial services provider’s stock worth $5,571,000 after buying an additional 142,135 shares in the last quarter. 94.12% of the stock is currently owned by institutional investors.

NMI Company Profile

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.