Nuveen LLC Takes $368,000 Position in NI Holdings, Inc. $NODK

Key Points

• Nuveen LLC has acquired 25,786 shares of NI Holdings, Inc. ($NODK), valued at approximately $368,000, representing 0.12% of the company's stock.
• NI Holdings has initiated a $5 million share repurchase program, indicating the board's belief that the stock is undervalued.
• The company's latest earnings report showed a loss per share of ($0.57) for the quarter with revenue of $76.06 million.

Nuveen LLC purchased a new position in shares of NI Holdings, Inc. (NASDAQ:NODK - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 25,786 shares of the company's stock, valued at approximately $368,000. Nuveen LLC owned 0.12% of NI as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NODK. Tower Research Capital LLC TRC raised its stake in shares of NI by 26.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,882 shares of the company's stock valued at $61,000 after acquiring an additional 815 shares during the period. Wells Fargo & Company MN increased its stake in NI by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 4,579 shares of the company's stock worth $72,000 after buying an additional 997 shares during the period. Citadel Advisors LLC increased its position in shares of NI by 61.4% in the 4th quarter. Citadel Advisors LLC now owns 18,328 shares of the company's stock worth $288,000 after purchasing an additional 6,972 shares during the last quarter. Bank of America Corp DE increased its position in shares of NI by 17.0% in the 4th quarter. Bank of America Corp DE now owns 19,320 shares of the company's stock worth $303,000 after purchasing an additional 2,811 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of NI by 13.5% in the 4th quarter. Barclays PLC now owns 28,013 shares of the company's stock valued at $440,000 after buying an additional 3,326 shares during the period. Hedge funds and other institutional investors own 21.89% of the company's stock.

NI Stock Up 2.0%

NASDAQ NODK traded up $0.26 on Thursday, hitting $13.58. The stock had a trading volume of 11,540 shares, compared to its average volume of 11,124. The company's 50-day moving average is $13.00 and its two-hundred day moving average is $13.17. The stock has a market cap of $280.70 million, a price-to-earnings ratio of 169.75 and a beta of 0.34. NI Holdings, Inc. has a one year low of $12.01 and a one year high of $17.24.

NI (NASDAQ:NODK - Get Free Report) last released its earnings results on Friday, August 8th. The company reported ($0.57) EPS for the quarter. NI had a net margin of 0.50% and a return on equity of 0.63%. The business had revenue of $76.06 million for the quarter.

NI announced that its board has initiated a stock buyback program on Monday, August 25th that permits the company to buyback $5.00 million in shares. This buyback authorization permits the company to repurchase up to 1.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

NI 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.