Ni Hldgs Inc Stock Price, News & Analysis

NI Holdings, Inc. (NASDAQ: NODK) announced a new stock repurchase authorization of up to $10 million, aimed at enhancing shareholder value. This plan adds to the $2 million remaining from a previous buyback, totaling approximately $12 million available for repurchase. The timing and amount of shares repurchased will be determined by market conditions and company discretion. As of April 30, 2022, NI Holdings had 21,235,174 shares outstanding. This initiative reflects the company’s strategic approach to capital deployment aimed at creating long-term value.

NI Holdings reported Q1 2022 results with net income of $1.9 million ($0.09 per share), a significant decline from $9.7 million ($0.45 per share) in Q1 2021. The return on average equity dropped to 2.3% from 11.2% due to reduced unrealized investment gains amid unfavorable market conditions. However, direct written premiums grew by 4.3%, totaling $75.5 million, and total underwriting gains increased by 20.9% to $6.1 million. Despite strong underwriting performance, total shareholders’ equity decreased by 4.4% to $332.3 million, attributed to rising interest rates affecting their fixed income portfolio.

AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (ICR) of 'a+' for members of Nodak Insurance Group, alongside a 'bbb+' rating for NI Holdings, Inc. The outlook for these ratings is stable. Nodak’s strong balance sheet strength and operating performance were highlighted, with significant capitalization and consistent reserving trends. The group operates in 17 states, maintaining a neutral business profile while expanding geographically. Nodak’s enterprise risk management is deemed appropriate.

NI Holdings, Inc. (NASDAQ: NODK) reported a Q4 2021 net income of $6.1 million ($0.29 per share), down from $21.6 million ($1.01 per share) in Q4 2020. For the full year, net income fell to $8.4 million ($0.39 per share) from $40.4 million ($1.86 per share) in 2020. However, direct written premiums increased by 7.4% in Q4 and 8.9% year-over-year. The combined ratio worsened to 98.6% in Q4 from 79.1% the previous year, and annual combined ratio rose to 104.4% from 89.4%, mainly due to higher weather-related losses and inflation. Shareholders' equity decreased slightly by $1.5 million.

NI Holdings (NASDAQ: NODK) reported a net loss of $4.7 million (-$0.22 per share) for Q3 2021, contrasting with a net income of $3.7 million ($0.17 per share) in Q3 2020. Year-to-date net income dropped to $2.3 million ($0.11 per share) from $18.8 million ($0.86 per share) last year. Direct written premiums increased by 0.9% to $68.9 million, while net earned premiums rose by 12.0%. The combined ratio worsened to 110.9% from 103.6% due to higher claim frequencies and severe weather impacts. Total equity grew 5.7% year-over-year, reaching $344 million.

NI Holdings, Inc. (NASDAQ: NODK) announced a stock repurchase authorization of up to $5 million to enhance shareholder value. The repurchase plan, alongside a previous authorization, reflects the company's strategy for capital deployment including share buybacks and strategic acquisitions. The timing and amount of shares repurchased will depend on market conditions, share price, and legal requirements. As of July 31, 2021, NI Holdings had 21,285,433 shares outstanding, indicating a substantial market presence.

NI Holdings (NASDAQ: NODK) reported a net loss of $2.644 million (-$0.12 per share) for Q2 2021, contrasting with a net income of $18.733 million ($0.86 per share) in Q2 2020. For the first half of 2021, net income was $7.025 million ($0.33 per share), down 53.6% from $15.146 million ($0.69 per share) in 2020. Direct written premiums rose 11.4% to $125.552 million, while the combined ratio deteriorated to 113.4%. Despite challenges from auto claims and drought conditions, the company anticipates better performance in the latter half of the year.

NI Holdings (NASDAQ: NODK) reported a strong Q1 2021, posting a net income of $9,669 ($0.45 per share) versus a loss of $3,587 in the same quarter last year. Return on average equity rose to 11.2%, a notable improvement. Direct written premiums increased by 15.0% to $72,420, with total equity climbing 16.8% to $352,590. Despite a higher combined ratio of 92.1%, the company remains optimistic, attributing premium growth to its commercial and non-standard auto segments. The firm also had a significant net unrealized gain in equity securities.

NI Holdings, Inc. (NASDAQ: NODK) reported strong financial results for Q4 and the full year ended December 31, 2020. Quarterly net income rose to $21,579 ($1.01 per share), a 26% increase from the previous year. Full-year net income reached $40,389 ($1.86 per share), up 53%. Direct written premiums for Q4 increased by 31.7%, while year-to-date figures rose by 19.9%. Shareholders' equity also grew by 12.6%, totaling $348,872. The company achieved a combined ratio of 89.4%, significantly better than the prior year's 96.2%. Performance improvements were noted across all operating entities.