Shares of NMI Holdings Inc (NASDAQ:NMIH – Get Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $38.70 and traded as low as $36.17. NMI shares last traded at $36.55, with a volume of 498,688 shares.
Wall Street Analysts Forecast Growth
NMIH has been the subject of a number of recent analyst reports. Barclays dropped their price target on shares of NMI from $44.00 to $43.00 and set an “equal weight” rating for the company in a research note on Monday, April 6th. Royal Bank Of Canada assumed coverage on shares of NMI in a research note on Friday, May 22nd. They set an “outperform” rating and a $46.00 price target for the company. Weiss Ratings lowered shares of NMI from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. decreased their price objective on shares of NMI from $44.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Finally, UBS Group set a $46.00 price objective on shares of NMI in a report on Friday, May 22nd. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $44.80.
NMI Stock Up 1.3%
NMI (NASDAQ:NMIH – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $1.28 earnings per share for the quarter, beating 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 company had revenue of $183.48 million during the quarter, compared to analyst estimates of $153.99 million. During the same quarter last year, the business posted $1.28 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. Equities analysts predict that NMI Holdings Inc will post 5.12 EPS for the current year.
Insider Activity
In other news, Chairman Bradley M. Shuster sold 18,953 shares of the business’s stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $37.35, for a total value of $707,894.55. Following the completion of the sale, the chairman owned 415,411 shares in the company, valued at approximately $15,515,600.85. The trade was a 4.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Curry Montgomery sold 1,554 shares of the business’s stock in a transaction dated 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 represents a 2.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 58,479 shares of company stock valued at $2,164,735. Company insiders own 2.44% of the company’s stock.
Institutional Investors Weigh In On NMI
Several large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in shares of NMI by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,351,808 shares of the financial services provider’s stock valued at $163,237,000 after purchasing an additional 34,372 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of NMI by 5.8% in the 3rd quarter. American Century Companies Inc. now owns 2,379,801 shares of the financial services provider’s stock valued at $91,242,000 after purchasing an additional 130,002 shares in the last quarter. Van Berkom & Associates Inc. raised its holdings in shares of NMI by 5.6% in the 4th quarter. Van Berkom & Associates Inc. now owns 2,016,030 shares of the financial services provider’s stock valued at $82,234,000 after purchasing an additional 106,400 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of NMI by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 1,982,722 shares of the financial services provider’s stock valued at $80,887,000 after purchasing an additional 5,274 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of NMI by 22.7% in the 1st quarter. Bank of America Corp DE now owns 1,304,633 shares of the financial services provider’s stock valued at $48,937,000 after purchasing an additional 241,724 shares in the last quarter. Institutional investors own 94.12% of the company’s stock.
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.
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