On Tuesday NMI Holdings, Inc. (NASD: NMIH) ended the last trade at $16.50. The trading volume was recorded to 531,967 shares as compared to average traded volume of 1.082B shares. The Company was 4.30 percent and return on equity ratio was 7.40 percent while its return on investment ratio was 7.50 percent
NMI Holdings, Inc. (NMIH) recently stated GAAP net income of $22.4M, or $0.34 per diluted share, and adjusted net income of $22.0M, or $0.34 per diluted share, for its 1st quarter ended March 31, 2018. Adjusted net income and adjusted net income per diluted share exclude a pre-tax non-cash gain of $0.4M related to the change in fair value of the company’s warrant liability. This compares with a net loss of $1.8M, or ($0.03) per diluted share, and adjusted net income of $14.0M, or $0.22 per diluted share, after adjusting for the one-time non-cash expense primarily related to the re-measurement of the company’s net deferred tax asset as a result of tax reform and the change in fair value of the warrant liability, in the previous quarter. In the 1st quarter of 2017, the firm stated net income of $5.5M, or $0.09 per diluted share, and adjusted net income of $5.6M, or $0.09 per diluted share, after adjusting for the change in fair value of the warrant liability. The non-GAAP financial measures adjusted net income and adjusted net income per share are presented to raise the comparability of financial results between periods. See “Use of Non-GAAP Financial Measures” below.
- As of March 31, 2018, the company had primary insurance-in-force of $53.4B, up 10 percent from $48.5B at the previous quarter end and up 54 percent over $34.8B as of March 31, 2017.
- Net premiums earned for the quarter were $54.9M, including $2.8M attributable to cancellation of single premium policies, which compares with $50.1M, including $4.2M related to cancellations, in the previous quarter. Net premiums earned in the first quarter of 2018 were up 65 percent over net premiums earned of $33.2M in the same quarter a year ago, which included $2.5M related to cancellations.
- NIW mix was 84 percent monthly premium product, which compares with 83 percent in the previous quarter and 81 percent in the 1st quarter of 2017.
- During the quarter, the company completed the sale of 4.3M shares of ordinary stock, raising proceeds of $79.2M, net of underwriting discounts, commissions and other direct offering expenses.
- At quarter-end, cash and investments were $826M, including $123M at the holding company, and book equity was $602M, equal to $9.18 per share.
- At quarter-end, the company had total PMIERs accessible assets of $555M, which compares with risk-based required assets under PMIERs of $522M. Subsequent to the close of the quarter, the company contributed $70M to National Mortgage Insurance Corporation, its primary mortgage insurance subsidiary.
The P/E ratio was recorded at 19.95.The volatility in the previous week has experienced by 2.44 percent and observed of 2.93 percent in the previous month.94.60 percent ownership is held by institutional investors while insiders hold ownership of 1.30 percent.
