Erie Indemnity (ERIE) Holdings Increased by Parallel Advisors LLC

Parallel Advisors LLC boosted its position in Erie Indemnity (NASDAQ:ERIE) by 83.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269 shares of the financial services provider’s stock after purchasing an additional 122 shares during the quarter. Parallel Advisors LLC’s holdings in Erie Indemnity were worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Janus Henderson Group PLC raised its holdings in Erie Indemnity by 168.9% in the first quarter. Janus Henderson Group PLC now owns 67,122 shares of the financial services provider’s stock worth $11,983,000 after buying an additional 42,163 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Erie Indemnity by 6.1% in the first quarter. Janney Montgomery Scott LLC now owns 5,777 shares of the financial services provider’s stock worth $1,031,000 after buying an additional 334 shares during the last quarter. Tower Bridge Advisors purchased a new position in Erie Indemnity in the first quarter worth about $268,000. SG Americas Securities LLC purchased a new position in Erie Indemnity in the first quarter worth about $150,000. Finally, CNB Bank raised its holdings in Erie Indemnity by 4.8% in the first quarter. CNB Bank now owns 2,396 shares of the financial services provider’s stock worth $428,000 after buying an additional 109 shares during the last quarter. Institutional investors and hedge funds own 31.52% of the company’s stock.

Shares of ERIE stock opened at $196.38 on Thursday. Erie Indemnity has a 52 week low of $110.95 and a 52 week high of $209.33. The company has a market capitalization of $9.00 billion, a PE ratio of 35.64 and a beta of 0.51. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.04 and a quick ratio of 2.04.

Erie Indemnity (NASDAQ:ERIE) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.07. Erie Indemnity had a net margin of 12.39% and a return on equity of 31.44%. The firm had revenue of $594.11 million during the quarter, compared to analyst estimates of $598.96 million. During the same period in the previous year, the business posted $1.26 earnings per share. Equities research analysts anticipate that Erie Indemnity will post 6.08 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Tuesday, July 9th will be paid a $0.90 dividend. The ex-dividend date is Monday, July 8th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.83%. Erie Indemnity’s dividend payout ratio is presently 65.34%.

ERIE has been the subject of a number of research analyst reports. BidaskClub lowered shares of Erie Indemnity from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 13th. ValuEngine upgraded shares of Erie Indemnity from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, Zacks Investment Research upgraded shares of Erie Indemnity from a “hold” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Wednesday, May 8th.

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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.

Read More: Earnings Per Share

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Institutional Ownership by Quarter for Erie Indemnity (NASDAQ:ERIE)

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