Erie Indemnity (NASDAQ:ERIE) CEO Timothy G. Necastro purchased 160 shares of the business’s stock in a transaction dated Tuesday, October 30th. The shares were purchased at an average price of $131.21 per share, for a total transaction of $20,993.60. Following the acquisition, the chief executive officer now owns 15,061 shares of the company’s stock, valued at $1,976,153.81. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.
NASDAQ:ERIE opened at $129.95 on Friday. Erie Indemnity has a 52 week low of $106.63 and a 52 week high of $132.69. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.99 and a current ratio of 1.99. The company has a market cap of $6.06 billion, a PE ratio of 25.61 and a beta of 0.41.
Erie Indemnity (NASDAQ:ERIE) last posted its quarterly earnings results on Thursday, October 25th. The financial services provider reported $1.54 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.18. Erie Indemnity had a net margin of 11.69% and a return on equity of 30.65%. The firm had revenue of $612.13 million for the quarter. As a group, equities analysts predict that Erie Indemnity will post 4.91 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the company. Stevens Capital Management LP purchased a new stake in Erie Indemnity in the second quarter worth approximately $267,000. BlueMountain Capital Management LLC boosted its holdings in Erie Indemnity by 55.1% in the second quarter. BlueMountain Capital Management LLC now owns 7,696 shares of the financial services provider’s stock worth $902,000 after purchasing an additional 2,735 shares during the last quarter. Rhumbline Advisers boosted its holdings in Erie Indemnity by 14.8% in the second quarter. Rhumbline Advisers now owns 68,813 shares of the financial services provider’s stock worth $8,069,000 after purchasing an additional 8,859 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Erie Indemnity by 75.0% in the third quarter. State of Alaska Department of Revenue now owns 5,251 shares of the financial services provider’s stock worth $668,000 after purchasing an additional 2,251 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Erie Indemnity by 5.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 208,375 shares of the financial services provider’s stock worth $24,435,000 after purchasing an additional 10,441 shares during the last quarter. Hedge funds and other institutional investors own 31.18% of the company’s stock.
ERIE has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Erie Indemnity from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. ValuEngine upgraded shares of Erie Indemnity from a “hold” rating to a “buy” rating in a report on Saturday, October 27th.
About Erie Indemnity
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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