Erie Indemnity Company (ERIE) Given Average Rating of “” by Analysts
Shares of Erie Indemnity Company (NASDAQ:ERIE) have been assigned an average broker rating score of 0.00 () from the one analysts that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Zacks has also given Erie Indemnity Company an industry rank of 86 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research raised shares of Erie Indemnity Company from a “hold” rating to a “strong-buy” rating and set a $137.00 price objective on the stock in a research report on Tuesday, February 28th.
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Erie Indemnity Company (NASDAQ:ERIE) opened at 123.09 on Tuesday. Erie Indemnity Company has a one year low of $90.21 and a one year high of $125.40. The stock’s 50 day moving average is $117.27 and its 200-day moving average is $108.84. The firm has a market capitalization of $6.44 billion, a PE ratio of 30.70 and a beta of 0.46.
Erie Indemnity Company (NASDAQ:ERIE) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.06. Erie Indemnity Company had a net margin of 12.38% and a return on equity of 24.48%. The company had revenue of $379.61 million for the quarter, compared to the consensus estimate of $376.71 million. On average, analysts anticipate that Erie Indemnity Company will post $4.14 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 20th. Investors of record on Wednesday, April 5th will be given a dividend of $0.7825 per share. This represents a $3.13 annualized dividend and a yield of 2.54%. The ex-dividend date is Monday, April 3rd. Erie Indemnity Company’s dividend payout ratio (DPR) is 84.59%.
In related news, Director Robert C. Wilburn sold 2,700 shares of the stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $120.16, for a total transaction of $324,432.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 47.46% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. increased its position in shares of Erie Indemnity Company by 5.6% in the third quarter. Advisors Asset Management Inc. now owns 39,206 shares of the company’s stock worth $4,002,000 after buying an additional 2,068 shares in the last quarter. OMERS ADMINISTRATION Corp increased its position in shares of Erie Indemnity Company by 12.7% in the third quarter. OMERS ADMINISTRATION Corp now owns 24,900 shares of the company’s stock worth $2,542,000 after buying an additional 2,800 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Erie Indemnity Company during the fourth quarter worth approximately $5,629,000. Victory Capital Management Inc. increased its position in shares of Erie Indemnity Company by 597.0% in the third quarter. Victory Capital Management Inc. now owns 45,825 shares of the company’s stock worth $4,677,000 after buying an additional 39,250 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Erie Indemnity Company by 5.6% in the third quarter. Rhumbline Advisers now owns 47,177 shares of the company’s stock worth $4,815,000 after buying an additional 2,510 shares in the last quarter. 30.73% of the stock is currently owned by institutional investors.
Erie Indemnity Company 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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