NMI (NASDAQ:NMIH) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

NMI (NASDAQ:NMIH) announced its earnings results on Wednesday. The financial services provider reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.05, reports. The firm had revenue of $166.09 million during the quarter, compared to analyst estimates of $164.59 million. NMI had a net margin of 56.20% and a return on equity of 18.30%.

NMI Stock Performance

Shares of NMIH stock traded down $0.15 during trading on Friday, reaching $37.10. 560,758 shares of the company’s stock traded hands, compared to its average volume of 445,410. The company has a market capitalization of $2.96 billion, a P/E ratio of 8.49, a PEG ratio of 0.89 and a beta of 1.13. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.20. The firm’s 50-day moving average is $40.20 and its 200 day moving average is $36.80. NMI has a 1 year low of $27.00 and a 1 year high of $42.49.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NMIH. Royal Bank of Canada dropped their target price on shares of NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Thursday. Barclays increased their price target on shares of NMI from $43.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of NMI from $42.00 to $46.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Truist Financial increased their price target on shares of NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods increased their price target on shares of NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.29.

Insider Activity at NMI

In other NMI news, insider William J. Leatherberry sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total value of $120,210.00. Following the sale, the insider now directly owns 153,689 shares in the company, valued at $6,158,318.23. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NMI

Large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in shares of NMI by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 7,888 shares of the financial services provider’s stock worth $255,000 after purchasing an additional 666 shares during the period. BNP Paribas Financial Markets raised its holdings in NMI by 47.0% in the first quarter. BNP Paribas Financial Markets now owns 90,240 shares of the financial services provider’s stock worth $2,918,000 after buying an additional 28,853 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in NMI in the first quarter worth about $31,000. Daiwa Securities Group Inc. boosted its holdings in NMI by 588.9% in the first quarter. Daiwa Securities Group Inc. now owns 6,200 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 5,300 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in NMI by 14.9% during the 1st quarter. Jennison Associates LLC now owns 51,705 shares of the financial services provider’s stock valued at $1,672,000 after buying an additional 6,695 shares during the last quarter. Institutional investors own 94.12% of the company’s stock.

NMI Company Profile

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.