Oregon Public Employees Retirement Fund Takes $2.54 Million Position in Erie Indemnity (NASDAQ:ERIE)

Oregon Public Employees Retirement Fund purchased a new position in shares of Erie Indemnity (NASDAQ:ERIE) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,000 shares of the financial services provider’s stock, valued at approximately $2,543,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ERIE. Carroll Financial Associates Inc. purchased a new stake in shares of Erie Indemnity in the 1st quarter valued at approximately $25,000. Macquarie Group Ltd. acquired a new stake in shares of Erie Indemnity during the 4th quarter worth about $27,000. Signaturefd LLC boosted its stake in shares of Erie Indemnity by 58.4% during the 1st quarter. Signaturefd LLC now owns 179 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 66 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Erie Indemnity by 83.0% during the 1st quarter. Parallel Advisors LLC now owns 269 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 122 shares during the last quarter. Finally, Capital Investment Advisory Services LLC boosted its stake in shares of Erie Indemnity by 50.0% during the 1st quarter. Capital Investment Advisory Services LLC now owns 408 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 32.11% of the company’s stock.

Several equities research analysts recently issued reports on ERIE shares. BidaskClub raised shares of Zebra Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 6th. ValuEngine cut shares of Intersect ENT from a “buy” rating to a “hold” rating in a research report on Monday, June 3rd. Finally, Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd.

Shares of ERIE traded up $1.71 during mid-day trading on Tuesday, hitting $265.96. The company had a trading volume of 4,693 shares, compared to its average volume of 145,009. The business has a 50-day moving average of $252.69. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.10. Erie Indemnity has a 1-year low of $119.01 and a 1-year high of $268.81. The company has a market cap of $12.23 billion, a PE ratio of 48.25 and a beta of 0.49.

Erie Indemnity (NASDAQ:ERIE) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.07. Erie Indemnity had a net margin of 12.39% and a return on equity of 31.44%. The business had revenue of $594.11 million for the quarter, compared to analysts’ expectations of $598.96 million. During the same period last year, the company earned $1.26 earnings per share. Research analysts forecast that Erie Indemnity will post 6.08 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Tuesday, July 9th will be given a dividend of $0.90 per share. The ex-dividend date is Monday, July 8th. This represents a $3.60 dividend on an annualized basis and a yield of 1.35%. Erie Indemnity’s dividend payout ratio (DPR) is 65.34%.

In other Erie Indemnity news, Director Elizabeth A. Vorsheck purchased 686 shares of Erie Indemnity stock in a transaction on Tuesday, June 11th. The shares were purchased at an average cost of $240.56 per share, with a total value of $165,024.16. Following the completion of the transaction, the director now directly owns 69,516 shares in the company, valued at approximately $16,722,768.96. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 46.87% of the company’s stock.

Erie Indemnity Company 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.

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

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