Erie Indemnity (NASDAQ:ERIE) CEO Timothy G. Necastro bought 493 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average price of $115.18 per share, with a total value of $56,783.74. Following the completion of the acquisition, the chief executive officer now owns 12,006 shares of the company’s stock, valued at approximately $1,382,851.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Erie Indemnity (NASDAQ ERIE) traded down $0.34 during trading hours on Wednesday, reaching $119.44. The company had a trading volume of 28,742 shares, compared to its average volume of 30,255. The stock has a market capitalization of $5,489.00, a price-to-earnings ratio of 31.86 and a beta of 0.44. Erie Indemnity has a 52-week low of $106.63 and a 52-week high of $129.73. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.09 and a current ratio of 2.09.
Erie Indemnity (NASDAQ:ERIE) last released its earnings results on Thursday, February 22nd. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.04. The firm had revenue of $401.40 million during the quarter. Erie Indemnity had a return on equity of 24.25% and a net margin of 11.65%. equities analysts anticipate that Erie Indemnity will post 4.91 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 20th. Shareholders of record on Friday, April 6th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, April 5th. Erie Indemnity’s dividend payout ratio (DPR) is 89.36%.
A number of research analysts recently issued reports on the company. BidaskClub upgraded Erie Indemnity from a “strong sell” rating to a “sell” rating in a report on Friday, February 2nd. Zacks Investment Research upgraded Erie Indemnity from a “hold” rating to a “strong-buy” rating and set a $131.00 target price for the company in a report on Tuesday, February 27th.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Xact Kapitalforvaltning AB purchased a new stake in Erie Indemnity during the 4th quarter worth about $276,000. CNB Bank purchased a new stake in Erie Indemnity during the 4th quarter worth about $251,000. Millennium Management LLC purchased a new stake in Erie Indemnity during the 4th quarter worth about $914,000. Stone Ridge Asset Management LLC purchased a new stake in Erie Indemnity during the 4th quarter worth about $266,000. Finally, Renaissance Technologies LLC lifted its holdings in Erie Indemnity by 1.9% during the 4th quarter. Renaissance Technologies LLC now owns 132,371 shares of the financial services provider’s stock worth $16,128,000 after buying an additional 2,500 shares during the last quarter. 31.04% of the stock is owned by institutional investors.
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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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