JPMorgan Chase & Co. Lowers NMI (NASDAQ:NMIH) Price Target to $41.00

NMI (NASDAQ:NMIH) had its target price trimmed by JPMorgan Chase & Co. from $46.00 to $41.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

NMIH has been the topic of a number of other reports. StockNews.com cut NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Royal Bank of Canada reduced their target price on NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Finally, Barclays increased their price target on NMI from $43.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, NMI currently has a consensus rating of “Moderate Buy” and an average target price of $42.57.

NMI Price Performance

Shares of NMIH stock opened at $37.59 on Monday. 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 company has a market capitalization of $2.97 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 0.96 and a beta of 1.10. The firm’s 50-day moving average is $39.34 and its two-hundred day moving average is $37.78. NMI has a 12 month low of $27.95 and a 12 month high of $42.49.

Institutional Investors Weigh In On NMI

Several institutional investors and hedge funds have recently modified their holdings of the company. Algert Global LLC boosted its holdings in NMI by 88.9% during the 3rd quarter. Algert Global LLC now owns 142,141 shares of the financial services provider’s stock valued at $5,855,000 after acquiring an additional 66,880 shares during the period. Leeward Investments LLC MA boosted its stake in shares of NMI by 5.6% in the second quarter. Leeward Investments LLC MA now owns 306,985 shares of the financial services provider’s stock valued at $10,450,000 after purchasing an additional 16,295 shares during the period. Edgestream Partners L.P. grew its holdings in shares of NMI by 13.1% in the second quarter. Edgestream Partners L.P. now owns 172,794 shares of the financial services provider’s stock valued at $5,882,000 after purchasing an additional 20,048 shares in the last quarter. Panagora Asset Management Inc. increased its stake in NMI by 5.8% during the 2nd quarter. Panagora Asset Management Inc. now owns 526,287 shares of the financial services provider’s stock worth $17,915,000 after buying an additional 29,040 shares during the period. Finally, Citigroup Inc. increased its stake in NMI by 95.4% during the 3rd quarter. Citigroup Inc. now owns 129,180 shares of the financial services provider’s stock worth $5,321,000 after buying an additional 63,058 shares during the period. Hedge funds and other institutional investors own 94.12% of the company’s stock.

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.