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

NMI Holdings, Inc. (NASDAQ:NMIH)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $34.39 and last traded at $33.64, with a volume of 42772 shares traded. The stock had previously closed at $34.04.

Analyst Ratings Changes

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of NMI from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods raised their price objective on shares of NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, April 4th. StockNews.com raised shares of NMI from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. Compass Point lifted their price target on shares of NMI from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Finally, UBS Group downgraded shares of NMI from a “buy” rating to a “neutral” rating and lifted their price target for the company from $37.00 to $39.00 in a research report on Wednesday, May 22nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $35.56.

NMI Stock Performance

The company’s 50 day moving average price is $32.85 and its 200-day moving average price is $31.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market cap of $2.75 billion, a P/E ratio of 8.48, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09.

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

Hedge Funds Weigh In On NMI

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

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.