NI (NASDAQ:NODK) Posts Earnings Results

NI (NASDAQ:NODK) posted its earnings results on Friday. The company reported $0.27 EPS for the quarter, FiscalAI reports. The business had revenue of $68.58 million for the quarter. NI had a net margin of 2.93% and a return on equity of 3.18%.

NI Price Performance

NODK traded down $0.06 on Friday, reaching $15.33. The company’s stock had a trading volume of 10,354 shares, compared to its average volume of 17,174. The stock has a market cap of $312.89 million, a price-to-earnings ratio of 40.34 and a beta of 0.25. NI has a 1 year low of $12.37 and a 1 year high of $16.70. The business’s 50 day moving average is $14.99 and its 200 day moving average is $14.39.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of NI from a “sell (d-)” rating to a “hold (c)” rating in a report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, NI has a consensus rating of “Hold”.

Institutional Investors Weigh In On NI

Several hedge funds and other institutional investors have recently bought and sold shares of NODK. Dimensional Fund Advisors LP raised its position in shares of NI by 4.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 341,116 shares of the company’s stock valued at $4,397,000 after purchasing an additional 15,820 shares in the last quarter. Empowered Funds LLC grew its position in shares of NI by 6.0% during the first quarter. Empowered Funds LLC now owns 30,974 shares of the company’s stock worth $399,000 after buying an additional 1,740 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of NI by 280.3% in the third quarter. Russell Investments Group Ltd. now owns 51,564 shares of the company’s stock worth $769,000 after buying an additional 38,006 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in NI in the second quarter valued at $270,000. Finally, Renaissance Technologies LLC raised its holdings in NI by 1.2% in the first quarter. Renaissance Technologies LLC now owns 89,191 shares of the company’s stock valued at $1,150,000 after acquiring an additional 1,100 shares in the last quarter. 21.89% of the stock is currently owned by hedge funds and other institutional investors.

NI Company Profile

NI Holdings, Inc is an insurance holding company that provides property and casualty insurance through its operating subsidiaries, including Nodak Insurance Company and Primero Insurance Company. The company serves individuals, farmers, families and businesses primarily in North Dakota, South Dakota and Minnesota.

Its insurance offerings include personal auto, homeowners, farmowners, commercial and agricultural coverage, along with other related property and liability products. NI Holdings distributes its policies through independent agents, including agents affiliated with Farm Bureau organizations.

The company traces its roots to Nodak Mutual Insurance Company, which was established in North Dakota in 1946.