Erie Indemnity Co. (ERIE) To Go Ex-Dividend on October 3rd
Erie Indemnity Co. (NASDAQ:ERIE) announced a quarterly dividend on Friday, July 29th. Shareholders of record on Wednesday, October 5th will be paid a dividend of 0.73 per share on Thursday, October 20th. This represents a $2.92 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Monday, October 3rd.
Shares of Erie Indemnity (NASDAQ:ERIE) opened at 102.07 on Friday. The firm has a market capitalization of $5.34 billion, a P/E ratio of 28.67 and a beta of 0.54. Erie Indemnity has a one year low of $81.07 and a one year high of $104.21. The firm has a 50-day moving average of $100.20 and a 200-day moving average of $96.88.
Erie Indemnity (NASDAQ:ERIE) last issued its earnings results on Thursday, July 28th. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.05 by $0.12. The firm earned $70 million during the quarter, compared to analysts’ expectations of $430.66 million. Erie Indemnity had a return on equity of 7.24% and a net margin of 7.49%. On average, equities analysts predict that Erie Indemnity will post $3.78 earnings per share for the current fiscal year.
Separately, Zacks Investment Research cut Erie Indemnity from a “hold” rating to a “sell” rating in a research report on Thursday, June 30th.
In other Erie Indemnity news, EVP John F. Kearns sold 400 shares of Erie Indemnity stock in a transaction on Friday, August 5th. The stock was sold at an average price of $98.15, for a total transaction of $39,260.00. Following the completion of the transaction, the executive vice president now directly owns 5,473 shares of the company’s stock, valued at $537,174.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John F. Kearns sold 500 shares of Erie Indemnity stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $99.70, for a total value of $49,850.00. Following the transaction, the executive vice president now directly owns 4,873 shares of the company’s stock, valued at $485,838.10. The disclosure for this sale can be found here. Company insiders own 47.46% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Capital Management LLC boosted its position in shares of Erie Indemnity by 42.3% in the second quarter. Janus Capital Management LLC now owns 91,500 shares of the company’s stock worth $9,090,000 after buying an additional 27,184 shares during the last quarter. Analytic Investors LLC boosted its position in shares of Erie Indemnity by 152.6% in the second quarter. Analytic Investors LLC now owns 39,673 shares of the company’s stock worth $3,941,000 after buying an additional 23,970 shares during the last quarter. Guggenheim Capital LLC bought a new position in shares of Erie Indemnity during the second quarter worth about $2,168,000. BlackRock Fund Advisors boosted its position in shares of Erie Indemnity by 5.7% in the second quarter. BlackRock Fund Advisors now owns 239,912 shares of the company’s stock worth $23,833,000 after buying an additional 12,841 shares during the last quarter. Finally, Martingale Asset Management L P boosted its position in shares of Erie Indemnity by 36.5% in the second quarter. Martingale Asset Management L P now owns 41,853 shares of the company’s stock worth $4,159,000 after buying an additional 11,200 shares during the last quarter. 30.45% of the stock is owned by institutional investors.
About Erie Indemnity
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.
Receive News & Ratings for Erie Indemnity Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Erie Indemnity Co. and related companies with MarketBeat.com's FREE daily email newsletter.