NI (NASDAQ:NODK) Issues Earnings Results

Key Points

• NI Holdings, Inc. reported a quarterly loss of ($0.57) EPS, with a negative net margin of 0.82% and a positive return on equity of 2.51%.
• The company's stock, trading at $12.83, saw a decline of 1.0% following the earnings announcement, with a 12-month trading range between $12.01 and $17.24.
• AQR Capital Management acquired a new stake in NI stock, buying 10,035 shares valued at approximately $143,000, as institutional investors now hold 21.89% of the company's stock.

NI (NASDAQ:NODK - Get Free Report) released its quarterly earnings data on Friday. The company reported ($0.57) EPS for the quarter, Zacks reports. NI had a return on equity of 0.63% and a net margin of 0.50%. The firm had revenue of $76.06 million during the quarter.

NI Price Performance

NASDAQ:NODK traded up $0.21 during mid-day trading on Wednesday, reaching $12.85. The stock had a trading volume of 6,945 shares, compared to its average volume of 11,856. The business's 50 day moving average is $12.88 and its 200 day moving average is $13.43. NI has a fifty-two week low of $12.01 and a fifty-two week high of $17.24. The stock has a market cap of $265.88 million, a P/E ratio of 160.56 and a beta of 0.33.

Hedge Funds Weigh In On NI

An institutional investor recently raised its position in NI stock. Empowered Funds LLC increased its position in NI Holdings, Inc. (NASDAQ:NODK - Free Report) by 3.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,850 shares of the company's stock after buying an additional 796 shares during the period. Empowered Funds LLC owned 0.11% of NI worth $312,000 at the end of the most recent reporting period. 21.89% of the stock is owned by institutional investors and hedge funds.

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.