Erie Indemnity (NASDAQ:ERIE) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Zacks has also assigned Erie Indemnity an industry rank of 115 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research upgraded Erie Indemnity from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd.
Erie Indemnity (NASDAQ:ERIE) traded down $1.03 on Wednesday, hitting $117.78. The stock had a trading volume of 15,852 shares, compared to its average volume of 28,694. Erie Indemnity has a fifty-two week low of $110.82 and a fifty-two week high of $129.73. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.06. The company has a market cap of $5,487.72, a P/E ratio of 29.55 and a beta of 0.47.
Erie Indemnity (NASDAQ:ERIE) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. Erie Indemnity had a return on equity of 24.98% and a net margin of 12.62%. The business had revenue of $442.49 million for the quarter, compared to the consensus estimate of $437.72 million. equities analysts forecast that Erie Indemnity will post 3.9 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 23rd. Investors of record on Monday, January 8th were paid a dividend of $0.84 per share. This is a boost from Erie Indemnity’s previous quarterly dividend of $0.78. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Friday, January 5th. Erie Indemnity’s dividend payout ratio is 83.58%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Erie Indemnity by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 2,316,616 shares of the financial services provider’s stock worth $289,739,000 after purchasing an additional 29,189 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Erie Indemnity by 3.1% during the 2nd quarter. BlackRock Inc. now owns 940,441 shares of the financial services provider’s stock worth $117,620,000 after purchasing an additional 28,266 shares during the last quarter. State Street Corp lifted its stake in shares of Erie Indemnity by 3.9% during the 2nd quarter. State Street Corp now owns 358,213 shares of the financial services provider’s stock worth $44,808,000 after purchasing an additional 13,608 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Erie Indemnity by 0.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 248,060 shares of the financial services provider’s stock worth $29,907,000 after purchasing an additional 1,876 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Erie Indemnity by 8.1% during the 3rd quarter. New York State Common Retirement Fund now owns 206,114 shares of the financial services provider’s stock worth $24,851,000 after purchasing an additional 15,506 shares during the last quarter. Hedge funds and other institutional investors own 31.18% of the company’s stock.
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Erie Indemnity 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 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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