NI (NASDAQ:NODK) Releases Earnings Results

NI (NASDAQ:NODK) issued its quarterly earnings results on Friday. The company reported $0.01 earnings per share for the quarter, FiscalAI reports. The firm had revenue of $70.23 million during the quarter. NI had a negative return on equity of 1.79% and a negative net margin of 1.60%.

NI Stock Performance

Shares of NODK stock traded up $0.07 during mid-day trading on Friday, hitting $15.62. The company’s stock had a trading volume of 38,978 shares, compared to its average volume of 19,344. NI has a 52-week low of $12.22 and a 52-week high of $16.70. The business has a 50-day moving average price of $15.55 and a 200 day moving average price of $14.06. The stock has a market cap of $319.90 million, a price-to-earnings ratio of -78.10 and a beta of 0.35.

Analyst Ratings Changes

A number of brokerages recently issued reports on NODK. Weiss Ratings reiterated a “sell (d-)” rating on shares of NI in a research note on Thursday, June 4th. Wall Street Zen upgraded shares of NI from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On NI

Institutional investors have recently modified their holdings of the business. AQR Capital Management LLC purchased a new position in NI in the 1st quarter worth about $143,000. Empowered Funds LLC boosted its holdings in shares of NI by 3.8% during the 1st quarter. Empowered Funds LLC now owns 21,850 shares of the company’s stock valued at $312,000 after acquiring an additional 796 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in shares of NI by 2.6% in the second quarter. Bridgeway Capital Management LLC now owns 73,753 shares of the company’s stock worth $940,000 after acquiring an additional 1,903 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of NI by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 309,116 shares of the company’s stock worth $4,192,000 after acquiring an additional 4,006 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of NI by 158.7% during the third quarter. Russell Investments Group Ltd. now owns 4,083 shares of the company’s stock valued at $55,000 after purchasing an additional 2,505 shares during the last quarter. 21.89% of the stock is owned by hedge funds and other institutional investors.

NI Company Profile

NI Holdings, Inc underwrites property and casualty insurance products in the United States. Its products include private passenger auto, non-standard automobile, homeowners, farm owners, crop hail and multi-peril crop, and liability insurance policies. The company was founded in 1946 and is headquartered in Fargo, North Dakota. NI Holdings, Inc operates as a subsidiary of Nodak Mutual Group, Inc