NMI (NASDAQ:NMIH) Announces Quarterly Earnings Results

Key Points

• NMI Holdings (NASDAQ: NMIH) reported $1.22 EPS for the quarter, exceeding the consensus estimate of $1.18 by $0.04.
• The company's stock increased by 0.4% to reach $37.96, with a market capitalization of $2.97 billion.
• Institutional investors hold a significant 94.12% of the company's stock, indicating strong institutional interest and support.

NMI (NASDAQ:NMIH - Get Free Report) released its quarterly earnings data on Tuesday. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.16 by $0.06, Zacks reports. NMI had a net margin of 55.57% and a return on equity of 16.51%. The business had revenue of $149.07 million during the quarter, compared to the consensus estimate of $173.39 million. During the same quarter in the prior year, the firm earned $1.20 EPS. The business's revenue was up 7.2% on a year-over-year basis.

NMI Stock Performance

NASDAQ NMIH traded down $0.13 during trading hours on Friday, reaching $37.19. The stock had a trading volume of 585,663 shares, compared to its average volume of 504,770. NMI has a 52-week low of $31.90 and a 52-week high of $43.20. The stock has a fifty day moving average of $39.71 and a 200 day moving average of $37.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.74 and a current ratio of 0.74. The stock has a market cap of $2.88 billion, a P/E ratio of 7.90, a price-to-earnings-growth ratio of 1.13 and a beta of 0.57.

Insiders Place Their Bets

In other news, Director Michael Curry Montgomery sold 1,875 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $38.05, for a total transaction of $71,343.75. Following the sale, the director owned 66,068 shares of the company's stock, valued at $2,513,887.40. This trade represents a 2.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Bradley M. Shuster sold 21,545 shares of NMI stock in a transaction on Friday, June 6th. The shares were sold at an average price of $39.56, for a total transaction of $852,320.20. Following the completion of the transaction, the chairman directly owned 409,792 shares of the company's stock, valued at $16,211,371.52. The trade was a 4.99% decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NMI

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of NMI by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,684 shares of the financial services provider's stock valued at $1,683,000 after acquiring an additional 2,030 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in NMI in the 1st quarter valued at $203,000. NewEdge Advisors LLC purchased a new position in NMI in the 1st quarter valued at $256,000. Royal Bank of Canada boosted its stake in NMI by 20.4% during the 1st quarter. Royal Bank of Canada now owns 117,065 shares of the financial services provider's stock worth $4,221,000 after purchasing an additional 19,857 shares during 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 buying an additional 208,287 shares in the last quarter. Hedge funds and other institutional investors own 94.12% of the company's stock.

Analysts Set New Price Targets

NMIH has been the subject of a number of research reports. Wall Street Zen lowered NMI from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Barclays upped their price objective on NMI from $41.00 to $42.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods cut NMI from an "outperform" rating to a "market perform" rating and lifted their target price for the stock from $42.00 to $43.00 in a report on Monday, July 7th. JPMorgan Chase & Co. increased their price target on NMI from $41.00 to $44.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Compass Point reaffirmed a "buy" rating and set a $37.00 price objective (up from $34.00) on shares of NMI in a research note on Friday, May 23rd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $42.33.

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.