Shares of Erie Indemnity Co. (NASDAQ:ERIE) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.
Zacks has also given Erie Indemnity an industry rank of 208 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research cut shares of Erie Indemnity from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 4th.
In other Erie Indemnity news, EVP John F. Kearns sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $99.15, for a total transaction of $247,875.00. Following the completion of the sale, the executive vice president now owns 8,416 shares of the company’s stock, valued at approximately $834,446.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John F. Kearns sold 400 shares of the firm’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $98.15, for a total value of $39,260.00. Following the sale, the executive vice president now directly owns 5,473 shares of the company’s stock, valued at approximately $537,174.95. The disclosure for this sale can be found here. Company insiders own 47.46% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Capital Fund Management S.A. increased its stake in shares of Erie Indemnity by 189.5% in the second quarter. Capital Fund Management S.A. now owns 16,500 shares of the company’s stock valued at $1,639,000 after buying an additional 10,800 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Erie Indemnity during the second quarter valued at about $762,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Erie Indemnity by 5.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 46,657 shares of the company’s stock valued at $4,635,000 after buying an additional 2,449 shares in the last quarter. Creative Planning increased its stake in shares of Erie Indemnity by 2,093.8% in the second quarter. Creative Planning now owns 6,735 shares of the company’s stock valued at $669,000 after buying an additional 6,428 shares in the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Erie Indemnity during the first quarter valued at about $214,000. 30.45% of the stock is owned by institutional investors and hedge funds.
Shares of Erie Indemnity (NASDAQ:ERIE) opened at 103.04 on Monday. The firm has a 50-day moving average of $100.69 and a 200 day moving average of $97.45. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 28.94 and a beta of 0.55. Erie Indemnity has a one year low of $84.89 and a one year high of $104.21.
Erie Indemnity (NASDAQ:ERIE) last released its earnings results on Thursday, July 28th. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.12. Erie Indemnity had a net margin of 7.49% and a return on equity of 7.24%. The business earned $70 million during the quarter, compared to analysts’ expectations of $430.66 million. Equities research analysts anticipate that Erie Indemnity will post $3.78 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Wednesday, October 5th will be issued a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Monday, October 3rd. Erie Indemnity’s dividend payout ratio is 82.25%.
Erie Indemnity Company Profile
Erie Indemnity Company is a management company. The Company serves as the attorney-in-fact for the subscribers (policyholders) at the Erie Insurance Exchange (Exchange). The Exchange is a reciprocal insurer that writes property and casualty insurance. The Company’s primary function is to perform certain services for the Exchange relating to the sales, underwriting and issuance of policies on behalf of the Exchange.
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