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NMI Holdings, Inc.: what insiders have been doing
Every trade that managers of NMI Holdings, Inc. disclose to SEC (Form 4) is tracked on this page. The company sits in the Banks sector. Over the twelve months to 18 October 2026, the company's managers filed 38 filings, from 13 insiders.
The flow runs one way only: 6 sales worth €9.5M, from 6 insiders, and no purchase. The largest single trade was a sale of €6.7M by Pollitzer Adam, published on 4 September 2026, equal to 0.24% of the market capitalisation.
Filings reach the SEC (Form 4) feed a median of 2 days after the trade. The legal deadline for a Form 4 is two business days after the transaction. Selling is not necessarily a view on the stock: liquidity needs and diversification are common motives.
Across the 5,811 companies tracked on its exchange, the median is 19 filings; at 38 filings, this issuer sits above that mark. Over the whole record (from 2016), the tally stands at no purchases and 38 sales. On the fundamentals side, the SEC filing (10-K) for the period ending 31 December 2025 lists revenue at 706.4 m USD and net income at 388.9 m USD.
For comparison within the same sector, see the insider buying recorded at First Guaranty Bancshares, Inc. and BCB Bancorp Inc. This summary is built from SEC (Form 4) disclosures alone and does not predict where the share price will go.
Insider Decl.
195
Thresholds
n/a
Buy Volume
n/a
n/a
Sell Volume
€21M
38 ops. · all time
Who traded when
BuySaleAdam Pollitzer2 sales
Mohammad Nawaz Yousaf2 sales
Norman Peter Fitzgerald2 sales
Robert Owen Smith2 sales
Scheid Steven2 sales
William J. Leatherberry2 sales
+4 other insiders
Analyst consensus: bullish or bearish?
Analysts rate NMI Holdings, Inc. Buy (bullish), based on 7 analysts. Average price target: US$49.14.
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Fundamental score
Ranked 384 of 24,148 companies
84.9
score / 100
Value87
Quality83
FCF yld14%
Earn yld13%
EV/EBITDA6.3x
ROE15%
Gross mgn·
Net mgn55%
Debt/EBITDA0.8x
Pillars2/3
Transparent value + quality ranking, distinct from the insider signal.
Financial data
as of FY 2025FY ended December 2025 · cache
US$40.10
Analyst consensus
7 analystsBuy
US$43.00Target US$49.14(+23%)US$54.00
Income statement
RevenueUS$706.4M
EBITDAUS$545.7M77% margin
Net incomeUS$388.9M54.1% margin
Valuation
PER (trailing)7.9x
PER (forward)7.3x
P/Book1.1x
Beta0.56
Balance sheet & cash
Market capUS$3B
Total debtUS$417M
Free Cash FlowUS$412.5M
Debt / Equity16%
Profitability & ownership
ROE15.4%
ROA8.8%
% insiders1.6%
% institutions101.4%
Last declaration on 15 September 2026
Declarations195 total
302 shares0Common Shares, $0.01 par value per shareSEC:0001953086-26-000006:0
16,264 shares@ US$18.700.0096% mcap2.7% of flowCommon Shares, $0.01 par value per shareSEC:0001706001-26-000009:0
19,435 shares@ US$16.000.0098% mcap2.8% of flowCommon Shares, $0.01 par value per shareSEC:0001706001-26-000009:1
25,426 shares@ US$22.190.018% mcap5.1% of flowCommon Shares, $0.01 par value per shareSEC:0001706001-26-000009:2
190,912 shares@ US$44.8550.27% mcap100.0% of flowCommonSEC144:0001950047-26-009159
172,706 shares@ US$44.8550.24% mcap69.9% of flowCommon Shares, $0.01 par value per shareSEC:0001706001-26-000006:0
11,662 shares@ US$44.50850.016% mcap100.0% of flowCommon Shares, $0.01 par value per shareSEC:0002021356-26-000009:0
11,662 shares@ US$44.50850.016% mcap100.0% of flowCommonSEC144:0001950047-26-007984
12,000 shares@ US$44.64690.017% mcap30.7% of flowCommon Shares, $0.01 par value per shareSEC:0001739814-26-000007:0
12,000 shares@ US$44.64690.017% mcap100.0% of flowCommonSEC144:0001950047-26-007579
8,666 shares@ US$42.750.012% mcap15.1% of flowCommonSEC144:0001958244-26-000464
10,626 shares@ US$41.8550.014% mcap18.1% of flowCommonSEC144:0001958244-26-000462
40,000 shares@ US$41.040.053% mcap66.8% of flowCommonSEC144:0001958244-26-000425
55,156 shares@ US$11.108.1% of flowCommon Shares, $0.01 par value per shareSEC:0001052831-26-000021:0
55,158 shares@ US$11.108.1% of flowCommon Shares, $0.01 par value per shareSEC:0001052831-26-000018:0
3,882 shares0Restricted Stock Unit (right to receive)SEC:0001953086-26-000002:0
55,158 shares@ US$11.108.1% of flowCommon Shares, $0.01 par value per shareSEC:0001052831-26-000015:0
55,158 shares@ US$11.108.1% of flowCommon Shares, $0.01 par value per shareSEC:0001052831-26-000012:0
4,900 shares0Common Shares, $0.01 par value per shareSEC:0001422024-26-000008:0
55,158 shares@ US$11.108.0% of flowCommon Shares, $0.01 par value per shareSEC:0001052831-26-000008:0
55,000 shares@ US$11.107.9% of flowCommon Shares, $0.01 par value per shareSEC:0001052831-26-000006:0
22,500 shares@ US$39.939341.9% of flowCommon Shares, $0.01 par value per shareSEC:0001904756-26-000006:0
16,000 shares@ US$39.887551.0% of flowCommon Shares, $0.01 par value per shareSEC:0001903613-26-000008:0
9,164 shares0Restricted Stock Unit (right to receive)SEC:0001903613-26-000006:0
63,538 shares0Restricted Stock Unit (right to receive)SEC:0001706001-26-000004:0
25 of 195 declarations
About NMI Holdings, Inc.
NMI Holdings, Inc. (ticker: NMIH) is a specialized U.S. private mortgage insurance company listed on the NASDAQ market. The company was incorporated in May 2011, began start-up operations in 2012, and wrote its first mortgage insurance policy in 2013. Its principal office is in Emeryville, California, United States. For francophone investors, the company sits in a very specific niche of the housing-finance chain: it does not originate mortgages, but instead provides credit protection to lenders when borrowers make small down payments, typically on higher loan-to-value residential loans.
NMIH’s business model is centered on private mortgage guaranty insurance through its operating subsidiaries, primarily National Mortgage Insurance Corporation (NMIC) and National Mortgage Reinsurance Inc. Its customers include national and regional mortgage banks, money-center banks, credit unions, community banks, builder-affiliated lenders, internet-based lenders and other non-bank originators. In economic terms, the company helps lenders transfer a portion of default risk and supports the secondary-market sale of mortgage loans, which is an important function in the United States housing market. That makes NMIH a credit-intermediation business tied to mortgage origination volumes, home-price dynamics, underwriting discipline and the broader U.S. housing cycle.
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From a competitive standpoint, NMIH operates in a concentrated industry dominated by a handful of private mortgage insurers. Its investment case is usually framed around underwriting quality, claims management, policy persistency, capital efficiency and customer service. The company has built a diversified lender base and has steadily scaled its insured portfolio since inception, with recent SEC filings showing a large and well-established insurance-in-force book and a broad distribution footprint across lender types. Although it is smaller than some of the longest-standing peers, it has worked to differentiate itself through a disciplined risk profile and operational execution rather than pure scale.
Recent company disclosures indicate that NMI Holdings continues to focus on portfolio quality, profitability and capital management. The latest annual and quarterly SEC filings show continued growth in primary insurance-in-force and an emphasis on serving lenders across multiple channels. Investors following SEC Form 4 insider activity should note that insider filings can provide signals about management sentiment, but they should be interpreted in the context of the company’s mortgage-insurance fundamentals, regulatory capital framework and the sensitivity of earnings to housing-market conditions. Overall, NMIH is best viewed as a U.S.-listed NASDAQ financials name in the United States with a focused mortgage-insurance franchise, a specialized competitive position and direct exposure to the health of the American housing-credit market.
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