Robeco Institutional Asset Management B.V. decreased its holdings in Erie Indemnity Company (NASDAQ:ERIE) by 49.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,623 shares of the financial services provider’s stock after selling 48,129 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.09% of Erie Indemnity worth $5,865,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of ERIE. JPMorgan Chase & Co. boosted its stake in shares of Erie Indemnity by 28.2% in the first quarter. JPMorgan Chase & Co. now owns 1,092 shares of the financial services provider’s stock valued at $134,000 after purchasing an additional 240 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Erie Indemnity by 7.1% in the second quarter. The Manufacturers Life Insurance Company now owns 1,369 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 91 shares during the last quarter. SG Americas Securities LLC purchased a new position in Erie Indemnity in the first quarter worth approximately $181,000. NN Investment Partners Holdings N.V. purchased a new position in Erie Indemnity in the second quarter worth approximately $183,000. Finally, Atria Investments LLC purchased a new position in Erie Indemnity in the second quarter worth approximately $204,000. 30.79% of the stock is owned by institutional investors and hedge funds.
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Erie Indemnity Company (NASDAQ ERIE) opened at 123.98 on Monday. Erie Indemnity Company has a 52 week low of $98.36 and a 52 week high of $129.73. The company has a 50-day moving average of $120.37 and a 200-day moving average of $121.36. The stock has a market cap of $6.48 billion, a P/E ratio of 31.00 and a beta of 0.47.
Erie Indemnity (NASDAQ:ERIE) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.01. Erie Indemnity had a net margin of 12.62% and a return on equity of 24.98%. The company had revenue of $442.49 million during the quarter, compared to the consensus estimate of $437.72 million. On average, analysts predict that Erie Indemnity Company will post $3.95 EPS for the current fiscal year.
A number of brokerages recently issued reports on ERIE. Zacks Investment Research upgraded shares of Erie Indemnity from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. BidaskClub downgraded shares of Erie Indemnity from a “hold” rating to a “sell” rating in a research note on Friday, August 25th.
Erie Indemnity 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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