NMI Holdings

NMIH · NASDAQ

$41.64+$0.63 (+1.54%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $41.01

NMIH analyst rating

BuyConsensus of 5 analysts over the last 12 months. 80% rate it a buy.

Strong buy0
Buy4
Hold1
Underperform0
Sell0

12-month price target · 10 analysts

Average $47.36 (+13.7% upside)

Low: $26.27
Now: $41.64
High: $56.70

Upgrades and downgrades

The latest rating actions, newest first

NMIH analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
JP Morgan	Oct 12, 2026	Maintains	Overweight	$50.00 → $45.00	56%
JP Morgan	Jul 31, 2026	Maintains	Overweight	$48.00 → $50.00	56%
Truist Securities	Jul 31, 2026	Maintains	Buy	$49.00 → $51.00	68%
JP Morgan	Jul 13, 2026	Maintains	Overweight	$43.00 → $48.00	56%
Keefe, Bruyette & Woods	Jun 25, 2026	Maintains	Outperform	$46.00 → $47.00	53%
RBC Capital	May 22, 2026	Initiates	Outperform	$46.00	44%
Keefe, Bruyette & Woods	May 4, 2026	Maintains	Outperform	$50.00 → $46.00	53%
Keefe, Bruyette & Woods	Apr 10, 2026	Maintains	Outperform	$48.00 → $50.00	53%
JP Morgan	Apr 9, 2026	Maintains	Overweight	$44.00 → $43.00	56%
Barclays	Apr 6, 2026	Maintains	Equal-Weight	$44.00 → $43.00	30%

The case for and against

Updated Jan 22, 2025

Bull case

NMI Holdings Inc. demonstrated robust financial growth in Q3, with a 7.9% sequential increase in book value per share, reaching $27.67. The company experienced a substantial 26% year-over-year rise in investment income, totaling $22.5 million, fueled by higher new money yields, alongside a noteworthy 7.8% increase in new insurance written (NIW) to $12.2 billion. Additionally, NMI's insurance in force grew 2.0% sequentially, surpassing expectations, bolstered by historically high persistency levels, indicating a strong and resilient demand for its mortgage insurance products.

Bear case

NMI Holdings reported a decline in its annualized return on equity for Q3, decreasing to 17.5% from 19.4% in the prior quarter, signaling potential weakness in profitability. Although the company's expense ratio improved to 20.3%, the deceleration in reserve releases to 7.6 points raises concerns about the company's ability to manage future losses effectively. Additionally, the anticipation of an uneven housing recovery suggests that slower growth and increased losses could negatively impact the market multiple for the company's shares.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.