Stock Market News

Barclays sets $32.20 price target for NMI Holdings

2023.11.16 07:21


© Reuters.

NEW YORK – Barclays has recently issued an Overweight recommendation for NMI Holdings Inc (NASDAQ:), the parent company of U.S.-based National Mortgage Insurance Corporation (National MI). The financial institution foresees a 12.44% potential upside for the company, setting a one-year target price of $32.20, up from the closing price of $28.64.

The current put/call ratio stands at 1.93, suggesting a bearish sentiment among investors. Despite this cautious outlook, NMI Holdings has reported solid financials with projected annual revenues of $547 million, albeit a slight decrease of 2.51% compared to previous figures. The non-GAAP earnings per share (EPS) are anticipated to be $3.71.

In terms of ownership, institutional investors have shown increased interest in NMI Holdings. There has been a 7.12% rise in institutional ownership, with 647 funds now reporting positions in the company. However, it’s worth noting that the total number of institutional shares has seen a marginal decline of 0.73%. Despite this, the average portfolio weight allocated to NMIH among these funds has risen by 0.81% to 0.19%.

iShares Core S&P Small-Cap ETF is currently holding 5,862K shares of NMI Holdings, which marks a decrease of 3.99%. Nevertheless, the ETF has boosted its portfolio allocation in NMIH by an impressive 7.68%. Meanwhile, Oaktree Capital Management has kept its stake steady with 4,900K shares.

Other notable investors include Macquarie Group (OTC:) and Delaware Small Cap Core Fund, both of which have increased their holdings and portfolio allocations in NMI Holdings by 1.18% (19.88%) and 2.49% (7.23%) respectively.

NMI Holdings continues to play a significant role in the mortgage insurance sector through its subsidiary National MI, amidst varying investor sentiment and market conditions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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