NI (NASDAQ:NODK) Issues Quarterly Earnings Results

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

NI Trading Up 0.5%

Shares of NODK stock traded up $0.07 during trading on Friday, reaching $15.62. 38,978 shares of the company’s stock traded hands, compared to its average volume of 20,652. The firm’s 50-day moving average is $15.59 and its 200 day moving average is $14.07. The company has a market capitalization of $319.90 million, a P/E ratio of -78.10 and a beta of 0.35. NI has a 1 year low of $12.22 and a 1 year high of $16.70.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On NI

Hedge funds and other institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its holdings in shares of NI by 158.7% in 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 during the period. Wells Fargo & Company MN lifted its holdings in NI by 46.2% during the 4th quarter. Wells Fargo & Company MN now owns 7,677 shares of the company’s stock worth $102,000 after purchasing an additional 2,426 shares in the last quarter. AQR Capital Management LLC bought a new position in NI in the 1st quarter worth about $143,000. Barclays PLC grew its holdings in NI by 11.9% during the 4th quarter. Barclays PLC now owns 12,749 shares of the company’s stock valued at $170,000 after buying an additional 1,359 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in NI during the 2nd quarter valued at about $270,000. Institutional investors own 21.89% of the company’s stock.

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