Brown Advisory Inc. boosted its holdings in Erie Indemnity (NASDAQ:ERIE) by 0.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 75,382 shares of the financial services provider’s stock after purchasing an additional 242 shares during the period. Brown Advisory Inc.’s holdings in Erie Indemnity were worth $10,050,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ERIE. Dimensional Fund Advisors LP raised its position in shares of Erie Indemnity by 4.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 280,178 shares of the financial services provider’s stock worth $37,349,000 after acquiring an additional 12,976 shares during the last quarter. Citigroup Inc. raised its position in shares of Erie Indemnity by 19.2% during the fourth quarter. Citigroup Inc. now owns 964 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 155 shares during the last quarter. Martingale Asset Management L P raised its position in shares of Erie Indemnity by 3.6% during the fourth quarter. Martingale Asset Management L P now owns 54,791 shares of the financial services provider’s stock worth $7,306,000 after acquiring an additional 1,901 shares during the last quarter. BlackRock Inc. raised its position in shares of Erie Indemnity by 4.9% during the fourth quarter. BlackRock Inc. now owns 1,002,319 shares of the financial services provider’s stock worth $133,620,000 after acquiring an additional 47,171 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Erie Indemnity by 1.9% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 49,565 shares of the financial services provider’s stock worth $6,575,000 after acquiring an additional 942 shares during the last quarter. Institutional investors and hedge funds own 31.77% of the company’s stock.

A number of equities analysts have recently issued reports on ERIE shares. BidaskClub upgraded Erie Indemnity from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 21st. ValuEngine upgraded Erie Indemnity from a “hold” rating to a “buy” rating in a research report on Monday, February 4th.

In other Erie Indemnity news, Director Salvatore Correnti bought 320 shares of the stock in a transaction on Wednesday, December 26th. The stock was acquired at an average cost of $126.81 per share, for a total transaction of $40,579.20. Following the completion of the acquisition, the director now owns 320 shares in the company, valued at approximately $40,579.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Louis F. Colaizzo bought 750 shares of the stock in a transaction on Monday, December 31st. The stock was acquired at an average price of $133.00 per share, with a total value of $99,750.00. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 1,820 shares of company stock valued at $240,079. 46.84% of the stock is currently owned by corporate insiders.

Shares of ERIE stock opened at $175.95 on Friday. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 31.93 and a beta of 0.50. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 0.10. Erie Indemnity has a fifty-two week low of $110.22 and a fifty-two week high of $188.02.

Erie Indemnity (NASDAQ:ERIE) last issued its earnings results on Thursday, February 21st. The financial services provider reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.18. The business had revenue of $576.47 million during the quarter. Erie Indemnity had a return on equity of 31.89% and a net margin of 12.10%. On average, research analysts anticipate that Erie Indemnity will post 6.08 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 23rd. Shareholders of record on Monday, April 8th will be issued a $0.90 dividend. The ex-dividend date is Friday, April 5th. This represents a $3.60 dividend on an annualized basis and a yield of 2.05%. Erie Indemnity’s payout ratio is currently 65.34%.

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Erie Indemnity Company Profile

Erie Indemnity Company operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States. The company provides sales, underwriting, and policy issuance services for the policyholders on behalf of the Erie Insurance Exchange. Its sales related services include agent compensation, and sales and advertising support services; and underwriting services comprise underwriting and policy processing, as well as provides administrative support, information technology, and customer services.

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Institutional Ownership by Quarter for Erie Indemnity (NASDAQ:ERIE)

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