Erie Indemnity Company (NASDAQ:ERIE) has received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Zacks has also assigned Erie Indemnity Company an industry rank of 86 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research raised shares of Erie Indemnity Company from a “hold” rating to a “strong-buy” rating and set a $137.00 price target on the stock in a research report on Tuesday, February 28th.
In other Erie Indemnity Company news, Director Robert C. Wilburn sold 2,700 shares of the company’s stock in a transaction on Friday, March 10th. The shares were sold at an average price of $120.16, for a total transaction of $324,432.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 47.46% of the company’s stock.
A number of hedge funds have recently modified their holdings of ERIE. Stifel Financial Corp boosted its stake in shares of Erie Indemnity Company by 1.6% in the second quarter. Stifel Financial Corp now owns 9,013 shares of the company’s stock worth $895,000 after buying an additional 145 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Erie Indemnity Company by 24.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 70,395 shares of the company’s stock worth $6,994,000 after buying an additional 13,612 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Erie Indemnity Company by 5.5% in the second quarter. Public Employees Retirement System of Ohio now owns 9,844 shares of the company’s stock worth $978,000 after buying an additional 515 shares during the period. Chicago Equity Partners LLC purchased a new stake in shares of Erie Indemnity Company during the third quarter worth approximately $206,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Erie Indemnity Company by 2.9% in the third quarter. Wells Fargo & Company MN now owns 6,613 shares of the company’s stock worth $675,000 after buying an additional 187 shares during the period. 30.73% of the stock is currently owned by institutional investors and hedge funds.
Erie Indemnity Company (NASDAQ:ERIE) opened at 122.09 on Tuesday. The company has a market cap of $6.38 billion, a PE ratio of 30.45 and a beta of 0.46. Erie Indemnity Company has a one year low of $90.21 and a one year high of $125.40. The stock has a 50 day moving average price of $117.27 and a 200 day moving average price of $108.84.
Erie Indemnity Company (NASDAQ:ERIE) last issued its quarterly earnings results on Thursday, February 23rd. The company reported $0.87 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.06. The business had revenue of $379.61 million for the quarter, compared to analysts’ expectations of $376.71 million. Erie Indemnity Company had a net margin of 12.38% and a return on equity of 24.48%. On average, equities analysts anticipate that Erie Indemnity Company will post $4.14 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 20th. Shareholders of record on Wednesday, April 5th will be given a dividend of $0.7825 per share. The ex-dividend date is Monday, April 3rd. This represents a $3.13 dividend on an annualized basis and a yield of 2.56%. Erie Indemnity Company’s dividend payout ratio (DPR) is currently 84.59%.
About Erie Indemnity Company
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 primary function is to perform certain services for the Exchange relating to the sales, underwriting and issuance of policies on behalf of the Exchange.
Get a free copy of the Zacks research report on Erie Indemnity Company (ERIE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com