NMI (NASDAQ:NMIH) Hits New 12-Month High – Here’s Why

NMI Holdings Inc (NASDAQ:NMIH) shares reached a new 52-week high on Monday . The company traded as high as $43.38 and last traded at $43.2670, with a volume of 187618 shares. The stock had previously closed at $42.75.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NMIH. Keefe, Bruyette & Woods increased their price objective on shares of NMI from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Weiss Ratings raised NMI from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, June 12th. JPMorgan Chase & Co. upped their price objective on NMI from $43.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Barclays dropped their target price on NMI from $44.00 to $43.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Finally, Royal Bank Of Canada started coverage on NMI in a research report on Friday, May 22nd. They set an “outperform” rating and a $46.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $46.00.

NMI Trading Up 0.3%

The company’s fifty day moving average price is $39.25 and its two-hundred day moving average price is $38.90. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.16. The firm has a market cap of $3.35 billion, a P/E ratio of 8.99, a price-to-earnings-growth ratio of 1.49 and a beta of 0.54.

NMI (NASDAQ:NMIH) last announced its earnings results on Thursday, April 30th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.06. NMI had a net margin of 53.82% and a return on equity of 15.18%. The business had revenue of $183.47 million during the quarter, compared to analysts’ expectations of $153.99 million. During the same quarter last year, the company posted $1.28 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, sell-side analysts predict that NMI Holdings Inc will post 5.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Michael Curry Montgomery sold 1,554 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $37.90, for a total transaction of $58,896.60. Following the completion of the sale, the director owned 69,026 shares of the company’s stock, valued at approximately $2,616,085.40. This trade represents a 2.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.44% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NMIH. Bank of America Corp DE grew its position in NMI by 95.3% during the 3rd quarter. Bank of America Corp DE now owns 1,014,557 shares of the financial services provider’s stock worth $38,898,000 after acquiring an additional 495,144 shares during the last quarter. River Road Asset Management LLC acquired a new position in NMI in the fourth quarter worth $15,104,000. BNP Paribas Financial Markets boosted its stake in NMI by 184.3% in the second quarter. BNP Paribas Financial Markets now owns 427,397 shares of the financial services provider’s stock worth $18,032,000 after purchasing an additional 277,065 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in NMI by 85.7% in the third quarter. Ameriprise Financial Inc. now owns 600,139 shares of the financial services provider’s stock worth $23,009,000 after purchasing an additional 276,897 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in shares of NMI by 1,312.9% during the first quarter. Jane Street Group LLC now owns 224,152 shares of the financial services provider’s stock worth $8,081,000 after purchasing an additional 208,287 shares during the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

About NMI

NMI Holdings, Inc (NASDAQ: NMIH) is a publicly traded mortgage insurance company that provides private mortgage insurance to lenders across the United States and Canada. Through its principal subsidiary, National Mortgage Insurance Corporation, NMI underwrites and issues policies that protect originators and investors against losses arising from borrower default on residential mortgage loans. By mitigating credit risk on higher?loan?to?value mortgages, the company supports homebuyers’ access to financing and contributes to overall market liquidity.

Beyond its core mortgage insurance products, NMI offers credit risk?sharing and reinsurance solutions designed to help clients optimize capital utilization and manage portfolio exposure.