NMI (NASDAQ:NMIH) Reaches New 52-Week High Following Better-Than-Expected Earnings

Shares of NMI Holdings, Inc. (NASDAQ:NMIH - Get Free Report) reached a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $32.54 and last traded at $32.43, with a volume of 43218 shares. The stock had previously closed at $30.86.

The financial services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.96 by $0.12. NMI had a return on equity of 17.97% and a net margin of 55.63%. The firm had revenue of $156.25 million during the quarter, compared to the consensus estimate of $133.76 million. During the same period in the prior year, the company earned $0.88 EPS. The firm's revenue was up 14.2% compared to the same quarter last year.

Wall Street Analyst Weigh In

NMIH has been the subject of a number of research analyst reports. StockNews.com cut NMI from a "buy" rating to a "hold" rating in a report on Thursday, March 21st. Truist Financial increased their price target on NMI from $36.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on NMI from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Wednesday. Royal Bank of Canada increased their price target on NMI from $31.00 to $33.00 and gave the stock a "sector perform" rating in a report on Thursday, February 15th. Finally, Keefe, Bruyette & Woods increased their price target on NMI from $33.00 to $36.00 and gave the stock a "market perform" rating in a report on Thursday, April 4th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, NMI has an average rating of "Moderate Buy" and an average price target of $34.67.

Insider Activity at NMI

In related news, Chairman Bradley M. Shuster sold 6,559 shares of the firm's stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $29.81, for a total transaction of $195,523.79. Following the completion of the transaction, the chairman now directly owns 453,298 shares in the company, valued at approximately $13,512,813.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NMI news, Chairman Bradley M. Shuster sold 6,559 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $29.81, for a total value of $195,523.79. Following the sale, the chairman now owns 453,298 shares of the company's stock, valued at approximately $13,512,813.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Robert Owen Smith sold 3,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $31.19, for a total value of $93,570.00. Following the completion of the sale, the executive vice president now directly owns 82,612 shares in the company, valued at approximately $2,576,668.28. The disclosure for this sale can be found here. Insiders sold 145,158 shares of company stock worth $4,395,582 in the last three months. 2.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On NMI

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in NMI by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 6,809,208 shares of the financial services provider's stock valued at $202,097,000 after purchasing an additional 225,364 shares in the last quarter. Van Berkom & Associates Inc. raised its position in shares of NMI by 7.3% during the 3rd quarter. Van Berkom & Associates Inc. now owns 2,708,797 shares of the financial services provider's stock worth $73,381,000 after acquiring an additional 185,099 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of NMI by 33.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,144,360 shares of the financial services provider's stock worth $37,009,000 after acquiring an additional 284,405 shares in the last quarter. American Century Companies Inc. raised its position in shares of NMI by 11.6% during the 3rd quarter. American Century Companies Inc. now owns 988,812 shares of the financial services provider's stock worth $26,787,000 after acquiring an additional 102,857 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of NMI by 9.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 980,783 shares of the financial services provider's stock worth $29,110,000 after acquiring an additional 81,727 shares in the last quarter. Institutional investors and hedge funds own 94.12% of the company's stock.

NMI Stock Up 2.6 %

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 8.24, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06. The firm has a 50-day moving average price of $30.45 and a two-hundred day moving average price of $29.47.

About NMI

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.