NMI Holdings Inc (NMIH) Sets New 52-Week High at $13.65
NMI Holdings Inc (NASDAQ:NMIH) reached a new 52-week high during trading on Tuesday . The stock traded as high as $13.65 and last traded at $13.78, with a volume of 664,438 shares. The stock had previously closed at $13.45.
Several research firms have recently commented on NMIH. Zacks Investment Research upgraded NMI Holdings from a “hold” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research note on Saturday, October 14th. Compass Point restated a “neutral” rating and issued a $13.00 price objective on shares of NMI Holdings in a research note on Saturday, October 14th. Singular Research began coverage on NMI Holdings in a research note on Monday. They issued a “buy” rating and a $16.00 price objective for the company. BidaskClub upgraded NMI Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Keefe, Bruyette & Woods lowered NMI Holdings from an “outperform” rating to a “market perform” rating and set a $13.00 price objective for the company. in a research note on Monday, July 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. NMI Holdings currently has an average rating of “Buy” and a consensus price target of $13.86.
The firm has a 50-day moving average of $11.84 and a 200 day moving average of $11.53. The stock has a market capitalization of $832.08 million, a P/E ratio of 11.06 and a beta of 0.69.
NMI Holdings (NASDAQ:NMIH) last released its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. NMI Holdings had a net margin of 52.34% and a return on equity of 5.95%. The company had revenue of $42.20 million during the quarter, compared to analysts’ expectations of $41.13 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The firm’s revenue for the quarter was up 43.1% on a year-over-year basis. On average, analysts expect that NMI Holdings Inc will post $0.51 earnings per share for the current fiscal year.
In other NMI Holdings news, CEO Bradley M. Shuster sold 30,000 shares of NMI Holdings stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $11.79, for a total value of $353,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William J. Leatherberry acquired 5,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was purchased at an average cost of $10.65 per share, with a total value of $53,250.00. The disclosure for this purchase can be found here. Insiders sold 149,227 shares of company stock valued at $1,760,571 in the last ninety days. 5.40% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its holdings in NMI Holdings by 2.5% in the second quarter. American Century Companies Inc. now owns 620,371 shares of the financial services provider’s stock valued at $7,103,000 after buying an additional 15,107 shares in the last quarter. Renaissance Technologies LLC increased its holdings in NMI Holdings by 2.2% in the second quarter. Renaissance Technologies LLC now owns 2,024,900 shares of the financial services provider’s stock valued at $23,185,000 after buying an additional 44,182 shares in the last quarter. Capital Research Global Investors increased its holdings in NMI Holdings by 72.5% in the second quarter. Capital Research Global Investors now owns 3,481,202 shares of the financial services provider’s stock valued at $39,860,000 after buying an additional 1,462,624 shares in the last quarter. Wells Fargo & Company MN increased its holdings in NMI Holdings by 849.8% in the second quarter. Wells Fargo & Company MN now owns 618,321 shares of the financial services provider’s stock valued at $7,081,000 after buying an additional 553,221 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in NMI Holdings by 14.1% in the first quarter. Schwab Charles Investment Management Inc. now owns 230,237 shares of the financial services provider’s stock valued at $2,625,000 after buying an additional 28,399 shares in the last quarter. 84.86% of the stock is owned by institutional investors.
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NMI Holdings Company Profile
NMI Holdings, Inc (NMIH) provides private mortgage guaranty insurance through its insurance subsidiaries. The Company’s primary insurance subsidiary, National Mortgage Insurance Corporation (NMIC), is a mortgage insurance (MI) provider on loans purchased by the Government-sponsored enterprises (GSEs).
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