Erie Indemnity Company (ERIE) Shares Sold by Nisa Investment Advisors LLC
Nisa Investment Advisors LLC decreased its stake in shares of Erie Indemnity Company (NASDAQ:ERIE) by 36.5% during the second quarter, Holdings Channel reports. The institutional investor owned 4,000 shares of the financial services provider’s stock after selling 2,300 shares during the period. Nisa Investment Advisors LLC’s holdings in Erie Indemnity were worth $500,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of ERIE. NN Investment Partners Holdings N.V. acquired a new stake in shares of Erie Indemnity during the second quarter worth about $183,000. Bank of Montreal Can boosted its stake in shares of Erie Indemnity by 7.2% in the second quarter. Bank of Montreal Can now owns 6,794 shares of the financial services provider’s stock worth $850,000 after buying an additional 456 shares in the last quarter. Atria Investments LLC acquired a new stake in shares of Erie Indemnity during the second quarter worth about $204,000. Public Employees Retirement System of Ohio boosted its stake in shares of Erie Indemnity by 8.5% in the first quarter. Public Employees Retirement System of Ohio now owns 13,058 shares of the financial services provider’s stock worth $1,602,000 after buying an additional 1,019 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Erie Indemnity by 15.5% in the first quarter. Goldman Sachs Group Inc. now owns 26,941 shares of the financial services provider’s stock worth $3,306,000 after buying an additional 3,621 shares in the last quarter. Institutional investors and hedge funds own 30.83% of the company’s stock.
Shares of Erie Indemnity Company (NASDAQ:ERIE) traded up 0.09% during midday trading on Thursday, reaching $124.83. 1,550 shares of the company were exchanged. Erie Indemnity Company has a 52-week low of $96.01 and a 52-week high of $129.73. The stock has a 50-day moving average price of $124.48 and a 200 day moving average price of $120.40. The company has a market capitalization of $6.53 billion, a P/E ratio of 31.21 and a beta of 0.43.
Erie Indemnity (NASDAQ:ERIE) last released its earnings results on Thursday, July 27th. The financial services provider reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by $0.09. The business had revenue of $448.56 million during the quarter, compared to the consensus estimate of $447.41 million. Erie Indemnity had a net margin of 12.73% and a return on equity of 25.11%. Equities research analysts expect that Erie Indemnity Company will post $3.98 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Thursday, October 5th will be given a $0.783 dividend. The ex-dividend date is Wednesday, October 4th. This represents a $3.13 dividend on an annualized basis and a yield of 2.51%. This is an increase from Erie Indemnity’s previous quarterly dividend of $0.78. Erie Indemnity’s dividend payout ratio (DPR) is 78.45%.
ERIE has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Erie Indemnity from a “strong-buy” rating to a “hold” rating in a report on Monday, May 1st. BidaskClub upgraded shares of Erie Indemnity from a “hold” rating to a “buy” rating in a report on Saturday, June 17th.
In other Erie Indemnity news, CEO Timothy G. Necastro bought 430 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average price of $116.24 per share, with a total value of $49,983.20. Following the completion of the transaction, the chief executive officer now owns 11,644 shares in the company, valued at $1,353,498.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 46.79% of the stock is currently owned by company insiders.
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 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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