Erie Indemnity Co. (NASDAQ:ERIE) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $102.44 and last traded at $101.59, with a volume of 11,808 shares trading hands. The stock had previously closed at $100.65.

Separately, Zacks Investment Research cut shares of Erie Indemnity from a “hold” rating to a “sell” rating in a research report on Thursday, June 30th.

The stock’s 50-day moving average price is $98.50 and its 200 day moving average price is $95.98. The firm has a market capitalization of $5.27 billion and a P/E ratio of 28.31.

Erie Indemnity (NASDAQ:ERIE) last announced its earnings results on Thursday, July 28th. The company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.12. The firm earned $70 million during the quarter, compared to analysts’ expectations of $430.66 million. Equities analysts anticipate that Erie Indemnity Co. will post $3.78 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Wednesday, October 5th will be paid a $0.73 dividend. This represents a $2.92 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Monday, October 3rd.

In other news, EVP John F. Kearns sold 400 shares of the 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 owns 5,473 shares of the company’s stock, valued at $537,174.95. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John F. Kearns sold 3,990 shares of the stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $98.71, for a total transaction of $393,852.90. Following the completion of the sale, the executive vice president now directly owns 9,181 shares in the company, valued at approximately $906,256.51. The disclosure for this sale can be found here.

An institutional investor recently raised its position in Erie Indemnity stock. Bank of Montreal Can boosted its stake in shares of Erie Indemnity Co. (NASDAQ:ERIE) by 63.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,098 shares of the company’s stock after buying an additional 6,232 shares during the period. Bank of Montreal Can’s holdings in Erie Indemnity were worth $1,540,000 as of its most recent SEC filing.

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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