NMI (NASDAQ:NMIH) Releases Earnings Results, Meets Estimates

NMI (NASDAQ:NMIH) issued its quarterly earnings data on Tuesday. The financial services provider reported $1.21 earnings per share for the quarter, hitting the consensus estimate of $1.21, Zacks reports. NMI had a net margin of 55.57% and a return on equity of 16.51%.

NMI Stock Up 2.0%

NASDAQ:NMIH traded up $0.73 during trading hours on Tuesday, reaching $37.52. The company had a trading volume of 502,812 shares, compared to its average volume of 519,363. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17. The business’s 50-day simple moving average is $37.87 and its two-hundred day simple moving average is $38.40. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 7.97, a P/E/G ratio of 1.05 and a beta of 0.63. NMI has a twelve month low of $31.90 and a twelve month high of $43.20.

Insiders Place Their Bets

In other NMI news, Director Steven Scheid sold 19,926 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $39.31, for a total value of $783,291.06. Following the transaction, the director owned 78,960 shares in the company, valued at approximately $3,103,917.60. This represents a 20.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On NMI

A number of large investors have recently modified their holdings of NMIH. Qube Research & Technologies Ltd raised its holdings in NMI by 10.8% during the second quarter. Qube Research & Technologies Ltd now owns 758,481 shares of the financial services provider’s stock worth $32,000,000 after buying an additional 73,695 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of NMI by 4.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 567,106 shares of the financial services provider’s stock worth $23,926,000 after acquiring an additional 22,383 shares during the last quarter. Bank of America Corp DE lifted its position in NMI by 32.8% in the 2nd quarter. Bank of America Corp DE now owns 519,413 shares of the financial services provider’s stock valued at $21,914,000 after acquiring an additional 128,432 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in NMI by 184.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 427,397 shares of the financial services provider’s stock valued at $18,032,000 after purchasing an additional 277,065 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in NMI by 62.6% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 424,127 shares of the financial services provider’s stock valued at $17,894,000 after purchasing an additional 163,364 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on NMIH. JPMorgan Chase & Co. reduced their price target on NMI from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Wall Street Zen lowered NMI from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Weiss Ratings reissued a “buy (b)” rating on shares of NMI in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods lowered shares of NMI from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $42.00 to $43.00 in a report on Monday, July 7th. Finally, Barclays reaffirmed a “cautious” rating on shares of NMI in a research note on Monday, October 6th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $42.33.

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.