Erie Indemnity Company (ERIE) Director Purchases $23,740.00 in Stock

Erie Indemnity Company (NASDAQ:ERIE) Director Luann Datesh bought 200 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were acquired at an average price of $118.70 per share, with a total value of $23,740.00. Following the purchase, the director now owns 100 shares of the company’s stock, valued at $11,870. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Erie Indemnity Company (ERIE) traded down $0.71 during midday trading on Thursday, reaching $118.21. The company’s stock had a trading volume of 17,800 shares, compared to its average volume of 29,997. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.92 and a current ratio of 1.92. Erie Indemnity Company has a one year low of $106.91 and a one year high of $129.73. The stock has a market capitalization of $5,492.80, a PE ratio of 29.58 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 for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.01. Erie Indemnity had a return on equity of 24.98% and a net margin of 12.62%. The company had revenue of $442.49 million during the quarter, compared to analysts’ expectations of $437.72 million. equities analysts predict that Erie Indemnity Company will post 3.9 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 23rd. Shareholders of record on Monday, January 8th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, January 5th. This represents a $3.36 dividend on an annualized basis and a yield of 2.84%. This is a boost from Erie Indemnity’s previous quarterly dividend of $0.78. Erie Indemnity’s payout ratio is currently 77.86%.

Hedge funds and other institutional investors have recently modified their holdings of the business. 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 valued at $171,000 after buying an additional 91 shares during the last quarter. SG Americas Securities LLC lifted its stake in Erie Indemnity by 17.7% in the second quarter. SG Americas Securities LLC now owns 1,741 shares of the financial services provider’s stock valued at $218,000 after buying an additional 262 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in Erie Indemnity in the third quarter valued at approximately $237,000. Teacher Retirement System of Texas raised its stake in shares of Erie Indemnity by 1.1% during the second quarter. Teacher Retirement System of Texas now owns 2,023 shares of the financial services provider’s stock worth $253,000 after purchasing an additional 22 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Erie Indemnity by 16.4% during the second quarter. Pacer Advisors Inc. now owns 3,611 shares of the financial services provider’s stock worth $452,000 after purchasing an additional 509 shares during the last quarter. Institutional investors own 30.90% of the company’s stock.

A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Erie Indemnity from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. BidaskClub cut Erie Indemnity from a “hold” rating to a “sell” rating in a research note on Friday, August 25th.

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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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