Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Our common stock is listed on the Nasdaq stock exchange under the symbol "NMIH." On February 9, 2024, there were 80,879,843 shares of our Class A common stock outstanding and approximately twelve holders of record. There are no shares of our Class B common stock outstanding. The closing price of our common stock on Nasdaq on February 9, 2024 was $30.19.
No dividends on our common stock have previously been declared or paid, and we may not declare or pay dividends in the future. For information on our ability to pay dividends, see Item 7, " Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources " and Item 8, " Financial Statements and Supplementary Data - Notes to Consolidated Financial Statements - Note 16, Regulatory Information - Dividend Restrictions. "
Issuer Purchases of Equity Securities
The following table provides information about purchases of NMI Holdings, Inc. common stock by us during the three months ended December 31, 2023.
(In Thousands, except for per share data)
Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Repurchased as Part of Publicly Announced Plans or Programs (1)
Approximate Dollar Value of Shares That May Yet Be Repurchased Under the Plans or Program (1)
Period:
10/1/2023 to 10/31/2023 549,758 $ 27.11 549,758 $ 193,582
11/1/2023 to 11/30/2023 321,094 27.80 321,094 184,655
12/1/2023 to 12/31/2023 271,998 28.36 271,998 176,940
Total 1,142,850 $ 27.60 1,142,850
(1) On February 10, 2022, our Board of Directors approved a $125 million share repurchase program effective through December 31, 2023, excluding associated costs and applicable taxes. On July 31, 2023, our Board of Directors approved an extension of the $125 million repurchase program through December 31, 2025. The Board also approved a new $200 million share repurchase program (excluding associated costs and applicable taxes) effective through December 31, 2025. As of December 31, 2023, no repurchase authority remained available under the February 2022 share repurchase program and $176.9 million repurchase authority remained under the July 2023 share repurchase program. See Item 8, " Financial Statements and Supplementary Data - Notes to Consolidated Financial Statements - Note 15, Common Stock, " for additional information.
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Common Stock Performance Graph
The following graph compares the cumulative total stockholder return on our Class A common stock from December 31, 2018 until December 31, 2023, with the cumulative total stockholder return on the Russell 2000 Index, S&P Small Cap 600 Index and an index of selected mortgage insurance companies (Peer Index). The Peer Index includes Essent, MGIC and Radian. The total stockholder's returns are not necessarily indicative of future returns. Information contained or referenced in the stock performance graph below is being furnished with this report and will not be deemed "filed" for purposes of Section 18 of the Exchange Act or deemed to be incorporated by reference into any filing under the Exchange Act or the Securities Act.
12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023
NMI Holdings, Inc. $ 100 $ 186 $ 127 $ 122 $ 117 $ 166
Russell 2000 Index 100 126 151 173 138 161
S&P Small Cap 600 100 123 137 173 145 169
Peer Index (ESNT, MTG, RDN) 100 154 132 140 123 171
Item 6. [Reserved]
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