NMI (NASDAQ:NMIH) Reaches New 52-Week High – Here’s What Happened

NMI Holdings Inc (NASDAQ:NMIH)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $43.49 and last traded at $43.0110, with a volume of 590 shares trading hands. The stock had previously closed at $43.01.

Wall Street Analysts Forecast Growth

NMIH has been the topic of a number of research analyst reports. UBS Group set a $46.00 target price on shares of NMI in a research report on Friday, May 22nd. JPMorgan Chase & Co. increased their price target on NMI from $43.00 to $48.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Keefe, Bruyette & Woods increased their price target on NMI from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, June 25th. Barclays cut their price objective on NMI from $44.00 to $43.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Finally, Royal Bank Of Canada assumed coverage on NMI in a report on Friday, May 22nd. They issued an “outperform” rating and a $46.00 target price for the company. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.00.

NMI Stock Up 0.0%

The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.63 and a current ratio of 0.63. The stock’s fifty day simple moving average is $38.57 and its two-hundred day simple moving average is $38.81. The stock has a market capitalization of $3.27 billion, a P/E ratio of 8.77, a price-to-earnings-growth ratio of 1.49 and a beta of 0.54.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Thursday, April 30th. The financial services provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.06. The company had revenue of $183.47 million for the quarter, compared to analysts’ expectations of $153.99 million. NMI had a net margin of 53.82% and a return on equity of 15.18%. NMI’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 earnings per share. As a group, research analysts expect that NMI Holdings Inc will post 5.11 EPS for the current fiscal year.

Insider Activity at NMI

In other NMI news, Director Michael Curry Montgomery sold 1,554 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $37.90, for a total value of $58,896.60. Following the sale, the director owned 69,026 shares in the company, valued at approximately $2,616,085.40. The trade was a 2.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.44% of the company’s stock.

Hedge Funds Weigh In On NMI

Hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of NMI by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,351,808 shares of the financial services provider’s stock worth $163,237,000 after acquiring an additional 34,372 shares during the period. Van Berkom & Associates Inc. raised its holdings in NMI by 5.6% during the 4th quarter. Van Berkom & Associates Inc. now owns 2,016,030 shares of the financial services provider’s stock worth $82,234,000 after purchasing an additional 106,400 shares during the last quarter. Geode Capital Management LLC raised its holdings in NMI by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,982,722 shares of the financial services provider’s stock worth $80,887,000 after purchasing an additional 5,274 shares during the last quarter. Bank of America Corp DE lifted its position 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 worth $48,937,000 after purchasing an additional 241,724 shares during the period. Finally, Qube Research & Technologies Ltd lifted its position in shares of NMI by 10.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 758,481 shares of the financial services provider’s stock worth $32,000,000 after purchasing an additional 73,695 shares during the period. 94.12% of the stock is currently owned by institutional investors.

NMI Company Profile

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.