NI (NASDAQ:NODK) Announces Quarterly Earnings Results

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

NI Stock Performance

NODK opened at $15.62 on Friday. The firm’s fifty day moving average is $15.59 and its two-hundred day moving average is $14.07. The firm has a market cap of $319.90 million, a PE ratio of 41.11 and a beta of 0.35. NI has a twelve month low of $12.22 and a twelve month high of $16.70.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NODK shares. Wall Street Zen raised NI from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NI in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, NI presently has an average rating of “Sell”.

Institutional Trading of NI

A number of large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in NI by 158.7% during the third quarter. Russell Investments Group Ltd. now owns 4,083 shares of the company’s stock worth $55,000 after acquiring an additional 2,505 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of NI by 46.2% in the fourth quarter. Wells Fargo & Company MN now owns 7,677 shares of the company’s stock worth $102,000 after acquiring an additional 2,426 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of NI in the first quarter worth about $143,000. Barclays PLC raised its position in shares of NI by 11.9% during the fourth quarter. Barclays PLC now owns 12,749 shares of the company’s stock worth $170,000 after purchasing an additional 1,359 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of NI during the second quarter worth about $270,000. Institutional investors own 21.89% of the company’s stock.

About NI

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