NMI (NASDAQ:NMIH) Upgraded at Royal Bank of Canada

Royal Bank of Canada upgraded shares of NMI (NASDAQ:NMIH) from a sector perform rating to an outperform rating in a research note issued to investors on Wednesday morning, Marketbeat reports. The firm currently has $48.00 price objective on the financial services provider’s stock, up from their prior price objective of $40.00.

Other research analysts also recently issued research reports about the stock. Barclays raised their target price on shares of NMI from $41.00 to $43.00 and gave the company an overweight rating in a research report on Wednesday, July 31st. UBS Group downgraded shares of NMI from a buy rating to a neutral rating and boosted their price objective for the stock from $37.00 to $39.00 in a research note on Wednesday, May 22nd. JPMorgan Chase & Co. upped their target price on NMI from $40.00 to $42.00 and gave the stock an overweight rating in a report on Wednesday, July 31st. Truist Financial lifted their price target on NMI from $37.00 to $47.00 and gave the company a buy rating in a report on Wednesday, July 31st. Finally, StockNews.com cut NMI from a buy rating to a hold rating in a research note on Wednesday, August 21st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $41.00.

NMI Stock Performance

NMI stock opened at $40.84 on Wednesday. NMI has a fifty-two week low of $25.62 and a fifty-two week high of $42.49. The company has a market capitalization of $3.28 billion, a PE ratio of 10.11, a P/E/G ratio of 0.89 and a beta of 1.12. The company has a 50 day moving average price of $39.05 and a 200-day moving average price of $34.51. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.67 and a current ratio of 0.67.

NMI (NASDAQ:NMIH) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.15. The business had revenue of $162.12 million during the quarter, compared to analysts’ expectations of $138.49 million. NMI had a return on equity of 18.29% and a net margin of 56.40%. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 EPS. As a group, equities analysts forecast that NMI will post 4.5 earnings per share for the current year.

Insider Buying and Selling

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

Hedge Funds Weigh In On NMI

Several hedge funds have recently made changes to their positions in NMIH. Charles Schwab Investment Management Inc. grew its stake in NMI by 9.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 980,783 shares of the financial services provider’s stock valued at $29,110,000 after purchasing an additional 81,727 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of NMI by 6.8% in the fourth quarter. BNP Paribas Financial Markets now owns 61,387 shares of the financial services provider’s stock worth $1,822,000 after purchasing an additional 3,912 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in shares of NMI during the fourth quarter worth about $145,000. Norges Bank purchased a new stake in NMI in the fourth quarter valued at approximately $20,006,000. Finally, Dynamic Technology Lab Private Ltd boosted its position in NMI by 21.7% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 32,061 shares of the financial services provider’s stock valued at $952,000 after buying an additional 5,707 shares during the last quarter. 94.12% of the stock is 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.