NI (NASDAQ:NODK) Releases Earnings Results

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

NI Price Performance

NASDAQ NODK traded down $0.06 on Friday, hitting $15.33. The stock had a trading volume of 10,354 shares, compared to its average volume of 20,804. The business’s fifty day moving average price is $14.98 and its 200 day moving average price is $14.38. 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 52-week low of $12.37 and a 52-week high of $16.70.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On NI

Several hedge funds and other institutional investors have recently modified their holdings of NODK. Dimensional Fund Advisors LP lifted its stake 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 during the period. Renaissance Technologies LLC raised its position in shares of NI by 1.2% in the first quarter. Renaissance Technologies LLC now owns 89,191 shares of the company’s stock worth $1,150,000 after acquiring an additional 1,100 shares during the period. Russell Investments Group Ltd. raised its position 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 acquiring an additional 38,006 shares during the period. Empowered Funds LLC boosted its stake in shares of NI by 6.0% during the 1st quarter. Empowered Funds LLC now owns 30,974 shares of the company’s stock worth $399,000 after acquiring an additional 1,740 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in shares of NI during the 2nd quarter worth about $270,000. 21.89% of the stock is 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.