Erie Indemnity Co. (ERIE) Sets New 52-Week High at $102.47
Erie Indemnity Co. (NASDAQ:ERIE)’s share price hit a new 52-week high on Thursday . The stock traded as high as $102.47 and last traded at $101.96, with a volume of 13,280 shares. The stock had previously closed at $102.03.
Separately, Zacks Investment Research cut shares of Erie Indemnity from a “hold” rating to a “sell” rating in a research note on Thursday, June 30th.
The firm has a 50-day moving average of $98.90 and a 200 day moving average of $96.15. The firm has a market cap of $5.36 billion and a PE ratio of 28.79.
Erie Indemnity (NASDAQ:ERIE) last posted its earnings results on Thursday, July 28th. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.12. The company earned $70 million during the quarter, compared to analysts’ expectations of $430.66 million. On average, equities analysts expect that Erie Indemnity Co. will post $3.78 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Wednesday, October 5th will be paid a $0.73 dividend. The ex-dividend date is Monday, October 3rd. This represents a $2.92 annualized dividend and a yield of 2.85%.
In other news, EVP John F. Kearns sold 3,990 shares of the business’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $98.71, for a total transaction of $393,852.90. Following the sale, the executive vice president now owns 9,181 shares in the company, valued at $906,256.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John F. Kearns sold 300 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $101.86, for a total value of $30,558.00. Following the sale, the executive vice president now owns 1,823 shares in the company, valued at approximately $185,690.78. The disclosure for this sale can be found here.
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.