Brokerages Set NMI Holdings, Inc. (NASDAQ:NMIH) Target Price at $42.00

Shares of NMI Holdings, Inc. (NASDAQ:NMIH) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $42.00.

Several analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of NMI from $46.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Keefe, Bruyette & Woods reduced their target price on NMI from $44.00 to $43.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 8th. Barclays cut NMI from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $48.00 to $41.00 in a report on Monday, January 6th. Finally, Royal Bank of Canada decreased their price objective on NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th.

NMI Trading Up 0.6 %

NASDAQ:NMIH opened at $37.72 on Tuesday. The company has a market capitalization of $2.98 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 0.82 and a beta of 1.12. NMI has a 52-week low of $28.73 and a 52-week high of $42.49. The stock has a fifty day simple moving average of $37.66 and a 200-day simple moving average of $38.53. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.19.

Hedge Funds Weigh In On NMI

Several institutional investors have recently added to or reduced their stakes in NMIH. Texas Permanent School Fund Corp grew its holdings in NMI by 18.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 83,900 shares of the financial services provider’s stock valued at $2,856,000 after buying an additional 12,939 shares during the period. American Century Companies Inc. grew its holdings in NMI by 18.4% in the second quarter. American Century Companies Inc. now owns 1,617,601 shares of the financial services provider’s stock valued at $55,063,000 after purchasing an additional 251,664 shares during the period. BOKF NA increased its position in NMI by 75.6% during the second quarter. BOKF NA now owns 17,338 shares of the financial services provider’s stock worth $590,000 after purchasing an additional 7,467 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in NMI by 9.2% during the second quarter. DekaBank Deutsche Girozentrale now owns 10,560 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 891 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in 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. 94.12% of the stock is currently owned by institutional investors and hedge funds.

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.