NMI Holdings, Inc.
NMIH · Surety Insurance · 76.0M shares · +5%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $75M (gross $92M, SBC $17M)
Reference price $37.90 · est. market cap ~$2.9B — last insider sale, 2026-05-19 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B80NMI Holdings — high-return mortgage insurer with strong cash flow.
Strengths
- Net margin 55% (93rd pct), ROE 15% (88th), ROA (88th), strong FCF (94th)
- Disciplined risk-based pricing and reinsurance
Risks
- Housing/credit-cycle and counter-cyclical loss exposure
- Origination-volume sensitivity
Notable findings
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Net margin
55.1%
Return on equity
15.0%
Return on assets
10.1%
Revenue growth (QoQ)
1.5%
Net-income growth
8.0%
Free cash flow
$413M
Tangible book value
$2.6B
Stock comp / revenue
2.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-19 | Montgomery Michael Curry | Sell | 1.6K | $37.90 |
| 2026-05-14 | Montgomery Michael Curry | Grant | 4.5K | — |
| 2026-05-14 | McCreary Lynn S. | Grant | 4.5K | — |
| 2026-05-14 | Huskins Priya Cherian | Grant | 4.5K | — |
| 2026-05-14 | Erickson John C | Grant | 4.5K | — |
| 2026-05-14 | EMBLER MICHAEL J | Grant | 4.5K | — |
| 2026-05-14 | SCHEID STEVEN | Grant | 4.5K | — |
| 2026-05-14 | Agrawal Renu | Grant | 4.5K | — |
| 2026-05-08 | Swithenbank Aurora | Tax withheld | 2.9K | — |
| 2026-05-01 | Swithenbank Aurora | Tax withheld | 9.1K | — |
| 2026-03-24 | SHUSTER BRADLEY M | Sell | 19K | $37.35 |
| 2026-03-23 | SHUSTER BRADLEY M | Option exercise | 55K | $11.10 |
| 2026-03-23 | SHUSTER BRADLEY M | Tax withheld | 36K | — |
| 2026-03-19 | SHUSTER BRADLEY M | Sell | 19K | $37.05 |
| 2026-03-18 | SHUSTER BRADLEY M | Tax withheld | 36K | — |
| 2026-03-18 | SHUSTER BRADLEY M | Option exercise | 55K | $11.10 |
| 2026-03-15 | Realmuto Nicholas Daniel | Grant | 3.9K | — |
| 2026-03-15 | Realmuto Nicholas Daniel | Tax withheld | 772 | — |
| 2026-03-15 | Realmuto Nicholas Daniel | Tax withheld | 565 | — |
| 2026-03-15 | Realmuto Nicholas Daniel | Tax withheld | 674 | — |
| 2026-03-15 | Realmuto Nicholas Daniel | Tax withheld | 1.0K | — |
| 2026-03-12 | SHUSTER BRADLEY M | Sell | 19K | $36.58 |
| 2026-03-11 | SHUSTER BRADLEY M | Tax withheld | 36K | — |
| 2026-03-11 | SHUSTER BRADLEY M | Option exercise | 55K | $11.10 |
| 2026-03-05 | SHUSTER BRADLEY M | Sell | 19K | $38.91 |
| 2026-03-04 | SHUSTER BRADLEY M | Option exercise | 55K | $11.10 |
| 2026-03-04 | SHUSTER BRADLEY M | Tax withheld | 36K | — |
| 2026-02-27 | Leatherberry William J | Other | 4.9K | — |
| 2026-02-26 | SHUSTER BRADLEY M | Sell | 20K | $39.85 |
| 2026-02-25 | SHUSTER BRADLEY M | Option exercise | 55K | $11.10 |
| 2026-02-25 | SHUSTER BRADLEY M | Tax withheld | 36K | — |
| 2026-02-18 | SHUSTER BRADLEY M | Option exercise | 55K | $11.10 |
| 2026-02-18 | SHUSTER BRADLEY M | Sell | 55K | $39.63 |
| 2026-02-17 | Fitzgerald Norman Peter | Sell | 22K | $39.94 |
| 2026-02-17 | Yousaf Mohammad Nawaz | Sell | 16K | $39.89 |
| 2026-02-12 | Fitzgerald Norman Peter | Tax withheld | 1.9K | — |
| 2026-02-12 | SHUSTER BRADLEY M | Tax withheld | 4.9K | — |
| 2026-02-12 | Leatherberry William J | Tax withheld | 4.0K | — |
| 2026-02-12 | Pollitzer Adam | Tax withheld | 15K | — |
| 2026-02-12 | Swithenbank Aurora | Tax withheld | 3.4K | — |
| 2026-02-12 | Yousaf Mohammad Nawaz | Tax withheld | 1.6K | — |
| 2026-02-12 | Smith Robert Owen | Tax withheld | 3.0K | — |
| 2026-02-11 | Smith Robert Owen | Tax withheld | 20K | — |
| 2026-02-11 | Pollitzer Adam | Grant | 64K | — |
| 2026-02-11 | Pollitzer Adam | Grant | 185K | — |
| 2026-02-11 | Pollitzer Adam | Tax withheld | 94K | — |
| 2026-02-11 | Leatherberry William J | Grant | 18K | — |
| 2026-02-11 | Leatherberry William J | Grant | 50K | — |
| 2026-02-11 | Leatherberry William J | Tax withheld | 26K | — |
| 2026-02-11 | SHUSTER BRADLEY M | Grant | 24K | — |
| 2026-02-11 | Swithenbank Aurora | Grant | 15K | — |
| 2026-02-11 | Fitzgerald Norman Peter | Grant | 9.0K | — |
| 2026-02-11 | Fitzgerald Norman Peter | Grant | 27K | — |
| 2026-02-11 | Fitzgerald Norman Peter | Tax withheld | 13K | — |
| 2026-02-11 | Yousaf Mohammad Nawaz | Grant | 9.2K | — |
| 2026-02-11 | Yousaf Mohammad Nawaz | Grant | 27K | — |
| 2026-02-11 | Yousaf Mohammad Nawaz | Tax withheld | 11K | — |
| 2026-02-11 | Smith Robert Owen | Grant | 13K | — |
| 2026-02-11 | Smith Robert Owen | Grant | 39K | — |
| 2026-02-08 | Pollitzer Adam | Tax withheld | 9.4K | — |
| 2026-02-08 | Fitzgerald Norman Peter | Tax withheld | 1.3K | — |
| 2026-02-08 | Yousaf Mohammad Nawaz | Tax withheld | 1.1K | — |
| 2026-02-08 | Smith Robert Owen | Tax withheld | 2.0K | — |
| 2026-02-08 | Leatherberry William J | Tax withheld | 2.6K | — |
| 2026-02-08 | SHUSTER BRADLEY M | Tax withheld | 7.0K | — |
| 2026-02-07 | Fitzgerald Norman Peter | Tax withheld | 2.3K | — |
| 2026-02-07 | Smith Robert Owen | Tax withheld | 3.4K | — |
| 2026-02-07 | Yousaf Mohammad Nawaz | Tax withheld | 2.0K | — |
| 2026-02-07 | Pollitzer Adam | Tax withheld | 17K | — |
| 2026-02-07 | SHUSTER BRADLEY M | Tax withheld | 6.9K | — |
| 2026-02-07 | Leatherberry William J | Tax withheld | 4.6K | — |
| 2025-12-24 | Leatherberry William J | Gift | 2.4K | — |
| 2025-11-19 | EMBLER MICHAEL J | Sell | 20K | $36.90 |
| 2025-09-16 | Realmuto Nicholas Daniel | Sell | 291 | $38.52 |
| 2025-09-15 | SCHEID STEVEN | Sell | 20K | $39.31 |
| 2025-09-15 | SCHEID STEVEN | Sell | 20K | $39.31 |
| 2025-09-13 | Realmuto Nicholas Daniel | Tax withheld | 301 | — |
| 2025-06-06 | SHUSTER BRADLEY M | Sell | 22K | $39.56 |
| 2025-05-30 | Leatherberry William J | Sell | 18K | $39.67 |
| 2025-05-13 | Montgomery Michael Curry | Sell | 1.9K | $38.05 |
| 2025-05-08 | Muehlhauser Regina | Grant | 4.4K | — |
| 2025-05-08 | Swithenbank Aurora | Tax withheld | 2.9K | — |
| 2025-05-08 | EMBLER MICHAEL J | Grant | 4.4K | — |
| 2025-05-08 | Montgomery Michael Curry | Grant | 4.4K | — |
| 2025-05-08 | Huskins Priya Cherian | Grant | 4.4K | — |
| 2025-05-08 | Erickson John C | Grant | 4.4K | — |
| 2025-05-08 | SCHEID STEVEN | Grant | 4.4K | — |
| 2025-05-08 | McCreary Lynn S. | Grant | 4.4K | — |
| 2025-05-01 | Swithenbank Aurora | Tax withheld | 9.1K | — |
| 2025-05-01 | Smith Robert Owen | Sell | 20K | $36.58 |
| 2025-05-01 | Leatherberry William J | Sell | 11K | $36.64 |
| 2025-05-01 | Pollitzer Adam | Sell | 57K | $36.54 |
| 2025-04-30 | Leatherberry William J | Sell | 13K | $35.56 |
| 2025-03-18 | Realmuto Nicholas Daniel | Sell | 2.8K | $35.33 |
| 2025-03-15 | Realmuto Nicholas Daniel | Grant | 4.0K | — |
| 2025-03-15 | Realmuto Nicholas Daniel | Sell | 471 | — |
| 2025-03-15 | Realmuto Nicholas Daniel | Sell | 1.0K | — |
| 2025-03-15 | Realmuto Nicholas Daniel | Sell | 770 | — |
| 2025-03-15 | Realmuto Nicholas Daniel | Sell | 564 | — |
| 2025-02-24 | Yousaf Mohammad Nawaz | Sell | 16K | $35.66 |
| 2025-02-24 | Fitzgerald Norman Peter | Sell | 20K | $35.88 |
| 2025-02-21 | Yousaf Mohammad Nawaz | Sell | 1.1K | $35.44 |
| 2025-02-12 | SHUSTER BRADLEY M | Grant | 24K | — |
| 2025-02-12 | Yousaf Mohammad Nawaz | Grant | 10K | — |
| 2025-02-12 | Yousaf Mohammad Nawaz | Grant | 21K | — |
| 2025-02-12 | Yousaf Mohammad Nawaz | Tax withheld | 8.2K | — |
| 2025-02-12 | Leatherberry William J | Grant | 20K | — |
| 2025-02-12 | Leatherberry William J | Grant | 43K | — |
| 2025-02-12 | Leatherberry William J | Tax withheld | 22K | — |
| 2025-02-12 | Fitzgerald Norman Peter | Grant | 9.9K | — |
| 2025-02-12 | Fitzgerald Norman Peter | Grant | 21K | — |
| 2025-02-12 | Fitzgerald Norman Peter | Tax withheld | 10K | — |
| 2025-02-12 | Swithenbank Aurora | Grant | 16K | — |
| 2025-02-12 | Pollitzer Adam | Grant | 72K | — |
| 2025-02-12 | Pollitzer Adam | Grant | 116K | — |
| 2025-02-12 | Pollitzer Adam | Tax withheld | 59K | — |
| 2025-02-12 | Smith Robert Owen | Grant | 15K | — |
| 2025-02-12 | Smith Robert Owen | Grant | 33K | — |
| 2025-02-12 | Smith Robert Owen | Tax withheld | 17K | — |
| 2025-02-09 | Leatherberry William J | Tax withheld | 591 | — |
| 2025-02-09 | Leatherberry William J | Tax withheld | 2.2K | — |
| 2025-02-09 | Fitzgerald Norman Peter | Tax withheld | 1.0K | — |
| 2025-02-09 | SHUSTER BRADLEY M | Tax withheld | 6.2K | — |
| 2025-02-09 | Smith Robert Owen | Tax withheld | 1.7K | — |
| 2025-02-08 | Fitzgerald Norman Peter | Tax withheld | 2.6K | — |
| 2025-02-08 | Leatherberry William J | Tax withheld | 5.1K | — |
| 2025-02-08 | Smith Robert Owen | Tax withheld | 3.9K | — |
| 2025-02-08 | Pollitzer Adam | Tax withheld | 19K | — |
| 2025-02-08 | SHUSTER BRADLEY M | Tax withheld | 6.9K | — |
| 2025-02-07 | Yousaf Mohammad Nawaz | Tax withheld | 2.0K | — |
| 2025-02-07 | Pollitzer Adam | Tax withheld | 17K | — |
| 2025-02-07 | Pollitzer Adam | Tax withheld | 5.9K | — |
| 2025-02-07 | Smith Robert Owen | Tax withheld | 3.4K | — |
| 2025-02-07 | SHUSTER BRADLEY M | Tax withheld | 6.9K | — |
| 2025-02-07 | Leatherberry William J | Tax withheld | 4.6K | — |
| 2025-02-07 | Fitzgerald Norman Peter | Tax withheld | 2.3K | — |
| 2025-02-07 | Yousaf Mohammad Nawaz | Tax withheld | 824 | — |
| 2025-02-07 | Yousaf Mohammad Nawaz | Tax withheld | 2.1K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-15 | 2026-05-14 | 0001547903-26-000033 ↗ |
| 10-Q | 2026-05-01 | 2026-03-31 | 0001547903-26-000029 ↗ |
| 8-K | 2026-04-30 | 2026-04-30 | 0001547903-26-000027 ↗ |
| 10-K | 2026-02-12 | 2025-12-31 | 0001547903-26-000011 ↗ |
| 8-K | 2026-02-12 | 2026-02-12 | 0001547903-26-000012 ↗ |
| 8-K | 2026-02-10 | 2026-02-10 | 0001547903-26-000004 ↗ |
| 10-Q | 2025-11-05 | 2025-09-30 | 0001547903-25-000103 ↗ |
| 8-K | 2025-11-04 | 2025-11-04 | 0001547903-25-000101 ↗ |
| 10-Q | 2025-07-30 | 2025-06-30 | 0001547903-25-000094 ↗ |
| 8-K | 2025-07-29 | 2025-07-29 | 0001547903-25-000092 ↗ |
| 8-K | 2025-05-09 | 2025-05-08 | 0001547903-25-000076 ↗ |
| 10-Q | 2025-04-30 | 2025-03-31 | 0001547903-25-000060 ↗ |