JPMorgan Chase & Co. Has Lowered Expectations for NMI (NASDAQ:NMIH) Stock Price

NMI (NASDAQ:NMIH) had its price objective cut by analysts at JPMorgan Chase & Co. from $46.00 to $41.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 8.12% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Barclays increased their price objective on shares of NMI from $43.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. StockNews.com cut shares of NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Finally, Royal Bank of Canada dropped their price objective on shares of NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NMI has a consensus rating of “Moderate Buy” and an average target price of $43.14.

NMI Trading Up 0.9 %

Shares of NASDAQ NMIH opened at $37.92 on Monday. The business has a fifty day moving average price of $39.28 and a 200 day moving average price of $37.82. NMI has a 1-year low of $27.95 and a 1-year high of $42.49. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $3.00 billion, a P/E ratio of 8.68, a price-to-earnings-growth ratio of 0.96 and a beta of 1.10.

Hedge Funds Weigh In On NMI

A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in shares of NMI by 1.0% during the third quarter. State Street Corp now owns 3,565,348 shares of the financial services provider’s stock worth $146,857,000 after purchasing an additional 35,351 shares in the last quarter. Van Berkom & Associates Inc. grew its holdings in shares of NMI by 2.1% during the second quarter. Van Berkom & Associates Inc. now owns 2,451,743 shares of the financial services provider’s stock worth $83,457,000 after buying an additional 51,194 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of NMI by 38.0% in the third quarter. Assenagon Asset Management S.A. now owns 1,942,428 shares of the financial services provider’s stock valued at $80,009,000 after buying an additional 534,818 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of 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 worth $55,063,000 after buying an additional 251,664 shares in the last quarter. Finally, FMR LLC boosted its position in NMI by 7.6% during the third quarter. FMR LLC now owns 1,517,092 shares of the financial services provider’s stock worth $62,489,000 after acquiring an additional 107,771 shares during the last quarter. 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.