NI (NASDAQ:NODK) Issues Quarterly Earnings Results

NI (NASDAQ:NODK) released its quarterly earnings results on Friday. The company reported $0.27 earnings per share 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

Shares of NODK opened at $15.33 on Friday. The company has a 50-day simple moving average of $14.99 and a two-hundred day simple moving average of $14.39. The firm has a market capitalization of $312.81 million, a PE ratio of 21.00 and a beta of 0.25. NI has a one year low of $12.37 and a one year high of $16.70.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NODK. Russell Investments Group Ltd. lifted its stake in shares of NI by 280.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 51,564 shares of the company’s stock valued at $769,000 after purchasing an additional 38,006 shares during the period. Bank of New York Mellon Corp purchased a new stake in NI in the second quarter worth $270,000. Empowered Funds LLC grew its stake in NI by 6.0% in the first quarter. Empowered Funds LLC now owns 30,974 shares of the company’s stock worth $399,000 after purchasing an additional 1,740 shares during the period. Renaissance Technologies LLC grew its stake in 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 purchasing an additional 1,100 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in NI by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 341,116 shares of the company’s stock worth $4,397,000 after purchasing an additional 15,820 shares during the period. Institutional investors own 21.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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

About NI

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.