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 10, 2025, there were 78,452,097 shares of our common stock outstanding and approximately ten holders of record. The closing price of our common stock on Nasdaq on February 10, 2025 was $36.48.
No dividends on our common stock have previously been declared or paid, and we may not declare or pay dividends in the future. For information on our ability to pay dividends, see Item 7, “ Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources” and Item 8, “ Financial Statements and Supplementary Data - Notes to Consolidated Financial Statements - Note 17, Regulatory Information - Dividend Restrictions.”
Issuer Purchases of Equity Securities
The following table provides information about purchases of NMI Holdings, Inc. common stock by us during the three months ended December 31, 2024.
($ 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:
10/1/2024 to 10/31/2024 209,301 $ 40.36 209,301 $ 99,609
11/1/2024 to 11/30/2024 210,716 38.03 210,716 91,596
12/1/2024 to 12/31/2024 301,521 38.06 301,521 80,120
Total 721,538 721,538
(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, and also approved a $200 million share repurchase program (excluding associated costs and applicable taxes) effective through December 31, 2025. As of December 31, 2024, no repurchase authority remained available under the February 2022 share repurchase program and $80.1 million repurchase authority remained under the July 2023 share repurchase program. On February 5, 2025, our Board of Directors authorized a new $250 million share repurchase program (excluding associated costs and applicable taxes) effective through December 31, 2027 and an extension of our existing share repurchase programs through December 31, 2027 to align its remaining tenor with that of the new $250 million program. See Item 8, “ Financial Statements and Supplementary Data - Notes to Consolidated Financial Statements - Note 16, Common Stock,” and “ Financial Statements and Supplementary Data - Notes to Consolidated Financial Statements - Note 18, Subsequent Events,” for additional information.
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Common Stock Performance Graph
The following graph compares the cumulative total stockholder return on our common stock from December 31, 2019 until December 31, 2024, 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.
12/31/2019
12/31/2020
12/31/2021
12/31/2022
12/31/2023
12/31/2024
NMI Holdings, Inc. $ 100 $ 68 $ 66 $ 63 $ 89 $ 111
Russell 2000 Index 100 120 138 110 128 143
S&P Small Cap 600 100 111 141 118 137 149
Peer Index (ESNT, MTG, RDN) 100 86 91 80 112 120
Item 6. [Reserved]
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