NMI (NASDAQ:NMIH) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

NMI (NASDAQ:NMIH) issued its quarterly earnings results on Wednesday. The financial services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.10 by $0.05, reports. NMI had a net margin of 56.40% and a return on equity of 18.29%. The firm had revenue of $166.09 million for the quarter, compared to analysts’ expectations of $164.59 million.

NMI Stock Up 5.7 %

Shares of NMI stock opened at $39.37 on Friday. The stock has a market capitalization of $3.14 billion, a P/E ratio of 8.83, a PEG ratio of 0.84 and a beta of 1.13. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average price of $40.28 and a two-hundred day moving average price of $36.76. NMI has a 12-month low of $27.00 and a 12-month high of $42.49.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com downgraded NMI from a “buy” rating to a “hold” rating in a report on Wednesday, August 21st. Truist Financial boosted their price objective on NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Barclays boosted their price objective on NMI from $43.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price objective on NMI from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada dropped their target price on NMI from $48.00 to $47.00 and set an “outperform” rating on the stock in a report on Thursday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.29.

Insiders Place Their Bets

In related news, insider William J. Leatherberry sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $40.07, for a total value of $120,210.00. Following the completion of the transaction, the insider now directly owns 153,689 shares in the company, valued at approximately $6,158,318.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.40% of the company’s stock.

Institutional Trading of NMI

Several large investors have recently made changes to their positions in NMIH. Vanguard Group Inc. boosted its holdings in NMI by 5.3% during the first quarter. Vanguard Group Inc. now owns 7,168,138 shares of the financial services provider’s stock worth $231,818,000 after buying an additional 358,930 shares during the last quarter. Van Berkom & Associates Inc. raised its position in shares of NMI by 2.1% during the second quarter. Van Berkom & Associates Inc. now owns 2,451,743 shares of the financial services provider’s stock worth $83,457,000 after purchasing an additional 51,194 shares during the period. Assenagon Asset Management S.A. raised its position in shares of NMI by 38.0% during the third quarter. Assenagon Asset Management S.A. now owns 1,942,428 shares of the financial services provider’s stock worth $80,009,000 after purchasing an additional 534,818 shares during the period. American Century Companies Inc. raised its position in shares of NMI by 18.4% during the second quarter. American Century Companies Inc. now owns 1,617,601 shares of the financial services provider’s stock worth $55,063,000 after purchasing an additional 251,664 shares during the period. Finally, Millennium Management LLC raised its position in shares of NMI by 34.8% during the second quarter. Millennium Management LLC now owns 1,020,415 shares of the financial services provider’s stock worth $34,735,000 after purchasing an additional 263,478 shares during the period. 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.