NI (NASDAQ:NODK) Shares Down 0.4% – Here’s What Happened

NI Holdings, Inc. (NASDAQ:NODK) shares dropped 0.4% during trading on Monday . The company traded as low as $13.60 and last traded at $13.63. Approximately 9,768 shares traded hands during mid-day trading, a decline of 2% from the average daily volume of 9,960 shares. The stock had previously closed at $13.68.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of NI in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

NI Price Performance

The stock has a market capitalization of $280.91 million, a P/E ratio of 104.85 and a beta of 0.37. The stock’s fifty day moving average is $13.46 and its two-hundred day moving average is $13.08.

NI (NASDAQ:NODK) last posted its quarterly earnings results on Friday, November 7th. The company reported ($0.08) earnings per share (EPS) for the quarter. The company had revenue of $76.57 million during the quarter. NI had a net margin of 0.87% and a return on equity of 1.05%.

NI announced that its Board of Directors has initiated a share repurchase program on Monday, August 25th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 1.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On NI

A number of hedge funds and other institutional investors have recently modified their holdings of NODK. Empowered Funds LLC lifted its stake in NI by 3.8% in the 1st quarter. Empowered Funds LLC now owns 21,850 shares of the company’s stock worth $312,000 after acquiring an additional 796 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of NI by 150.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,000 shares of the company’s stock valued at $25,000 after purchasing an additional 1,200 shares during the period. State of Wyoming increased its holdings in shares of NI by 34.8% in the 1st quarter. State of Wyoming now owns 5,284 shares of the company’s stock valued at $75,000 after purchasing an additional 1,363 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of NI by 2.6% during the second quarter. Bridgeway Capital Management LLC now owns 73,753 shares of the company’s stock worth $940,000 after purchasing an additional 1,903 shares during the period. Finally, Russell Investments Group Ltd. grew its position in NI by 158.7% during the third quarter. Russell Investments Group Ltd. now owns 4,083 shares of the company’s stock valued at $55,000 after purchasing an additional 2,505 shares in the last quarter. Institutional investors and hedge funds 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.