NI (NASDAQ:NODK) Posts Quarterly Earnings Results

NI (NASDAQ:NODK) released its earnings results on Friday. The company reported $0.60 earnings per share for the quarter, FiscalAI reports. The business had revenue of $59.60 million for the quarter. NI had a negative return on equity of 4.24% and a negative net margin of 3.65%.

NI Stock Down 0.9%

NI stock traded down $0.11 during mid-day trading on Friday, hitting $12.81. The company’s stock had a trading volume of 21,150 shares, compared to its average volume of 14,709. The stock has a market capitalization of $262.87 million, a P/E ratio of -26.14 and a beta of 0.35. NI has a twelve month low of $12.01 and a twelve month high of $14.70. The stock’s fifty day moving average price is $13.02 and its two-hundred day moving average price is $13.31.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bridgeway Capital Management LLC boosted its position in shares of NI by 2.6% during the 2nd quarter. Bridgeway Capital Management LLC now owns 73,753 shares of the company’s stock valued at $940,000 after acquiring an additional 1,903 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of NI by 112.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 32,983 shares of the company’s stock worth $439,000 after acquiring an additional 17,473 shares in the last quarter. Empowered Funds LLC grew its position in NI by 9.6% in the fourth quarter. Empowered Funds LLC now owns 29,234 shares of the company’s stock valued at $389,000 after purchasing an additional 2,568 shares in the last quarter. AQR Capital Management LLC lifted its stake in NI by 7.2% in the fourth quarter. AQR Capital Management LLC now owns 16,708 shares of the company’s stock valued at $222,000 after acquiring an additional 1,128 shares during the last quarter. Finally, Barclays PLC raised its stake in NI by 11.9% in the 4th quarter. Barclays PLC now owns 12,749 shares of the company’s stock worth $170,000 after purchasing an additional 1,359 shares in the last quarter. Institutional investors own 21.89% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on NODK shares. Wall Street Zen raised NI to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings lowered NI from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

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