NI Holdings approves $5 million stock repurchase program

FARGO, N.D. - NI Holdings, Inc. (NASDAQ:NODK), a property and casualty insurance company with a market capitalization of $260.72 million, announced Monday that its Board of Directors has approved a new authorization to repurchase up to $5 million of the company’s outstanding common stock. The announcement comes as the stock trades near its 52-week low, having declined 18.28% year-to-date according to InvestingPro data.

This new authorization comes in addition to approximately $1.3 million remaining under the previous repurchase plan announced in May 2022, bringing the total available for stock repurchases to approximately $6.3 million. With a current P/E ratio of 170.09 and no dividend payments to shareholders, InvestingPro analysis suggests the stock is trading near its Fair Value.

According to the company’s statement, the timing, number, and value of shares to be repurchased will be determined by management based on factors including market conditions, trading price, and legal requirements.

The insurance holding company noted it is not obligated to repurchase any shares under this authorization, and the plan may be suspended, discontinued, or modified at any time.

NI Holdings reported 20,675,337 shares of common stock outstanding as of July 31, 2025, according to its quarterly report for the period ended June 30, 2025.

The company operates as the parent organization of several insurance subsidiaries including Nodak Insurance Company, American West Insurance Company, Primero Insurance Company, Battle Creek Insurance Company, and Direct Auto Insurance Company.

The announcement was made via a press release statement issued by the company.

In other recent news, NI Holdings has made significant changes to its executive team, including the appointment of Kelly Dawson as Senior Vice President and Chief Human Resources Officer. Dawson will be responsible for talent acquisition, employee engagement, compliance, and organizational development. She brings over 20 years of human resources experience to the newly created position. Additionally, Kevin Elfstrand has been promoted to Senior Vice President and Chief Accounting Officer, where he will oversee the Accounting department and lead external financial reporting. Elfstrand has more than two decades of experience in the property and casualty insurance sector, including 17 years at Travelers Companies, Inc. These strategic leadership appointments are part of NI Holdings’ efforts to bolster long-term growth and strengthen its execution of core business strategies. The company has expressed confidence in the newly appointed executives’ ability to advance its strategic priorities.

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