Wedgewood Investors Inc. PA increased its stake in shares of Erie Indemnity (NASDAQ:ERIE) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 52,833 shares of the financial services provider’s stock after buying an additional 900 shares during the period. Erie Indemnity accounts for about 10.7% of Wedgewood Investors Inc. PA’s portfolio, making the stock its largest holding. Wedgewood Investors Inc. PA’s holdings in Erie Indemnity were worth $6,738,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in Erie Indemnity by 37.7% in the 3rd quarter. Victory Capital Management Inc. now owns 141,989 shares of the financial services provider’s stock valued at $18,108,000 after purchasing an additional 38,849 shares during the period. First Trust Advisors LP boosted its holdings in Erie Indemnity by 13.1% in the 3rd quarter. First Trust Advisors LP now owns 201,253 shares of the financial services provider’s stock valued at $25,666,000 after purchasing an additional 23,255 shares during the period. Renaissance Technologies LLC boosted its holdings in Erie Indemnity by 12.8% in the 2nd quarter. Renaissance Technologies LLC now owns 167,400 shares of the financial services provider’s stock valued at $19,629,000 after purchasing an additional 19,000 shares during the period. BlackRock Inc. boosted its holdings in Erie Indemnity by 1.6% in the 2nd quarter. BlackRock Inc. now owns 960,736 shares of the financial services provider’s stock valued at $112,654,000 after purchasing an additional 15,037 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Erie Indemnity by 4.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 261,049 shares of the financial services provider’s stock valued at $30,609,000 after purchasing an additional 10,782 shares during the period. 31.19% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Timothy G. Necastro purchased 1,550 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was bought at an average price of $127.89 per share, with a total value of $198,229.50. Following the acquisition, the chief executive officer now owns 14,901 shares in the company, valued at approximately $1,905,688.89. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 46.84% of the company’s stock.
NASDAQ ERIE opened at $129.99 on Monday. Erie Indemnity has a 12-month low of $106.63 and a 12-month high of $132.69. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $5.99 billion, a price-to-earnings ratio of 32.91 and a beta of 0.36.
Erie Indemnity (NASDAQ:ERIE) last issued its quarterly earnings results on Thursday, October 25th. The financial services provider reported $1.54 earnings per share for the quarter, topping 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 company had revenue of $612.13 million during the quarter. On average, research analysts forecast that Erie Indemnity will post 4.91 EPS for the current fiscal year.
ERIE has been the subject of a number of recent research reports. ValuEngine raised shares of Erie Indemnity from a “hold” rating to a “buy” rating in a report on Saturday, October 27th. BidaskClub raised shares of Erie Indemnity from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th.
Erie Indemnity 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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