Wedgewood Investors Inc. PA Has $10.90 Million Stock Position in Erie Indemnity (NASDAQ:ERIE)

Wedgewood Investors Inc. PA lessened its stake in Erie Indemnity (NASDAQ:ERIE) by 0.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,842 shares of the financial services provider’s stock after selling 50 shares during the period. Erie Indemnity accounts for 16.3% of Wedgewood Investors Inc. PA’s portfolio, making the stock its largest holding. Wedgewood Investors Inc. PA’s holdings in Erie Indemnity were worth $10,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. CENTRAL TRUST Co bought a new stake in shares of Erie Indemnity during the 3rd quarter valued at $92,000. Emerald Advisers LLC bought a new stake in shares of Erie Indemnity during the 2nd quarter valued at $109,000. Private Advisor Group LLC bought a new stake in shares of Erie Indemnity during the 2nd quarter valued at $124,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Erie Indemnity during the 3rd quarter valued at $212,000. Finally, Comerica Bank bought a new stake in shares of Erie Indemnity during the 3rd quarter valued at $214,000. Hedge funds and other institutional investors own 35.11% of the company’s stock.

Several analysts have commented on ERIE shares. Zacks Investment Research cut shares of Erie Indemnity from a “hold” rating to a “sell” rating in a research report on Tuesday, August 4th. BidaskClub cut shares of Erie Indemnity from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 7th. Finally, William Blair restated an “outperform” rating on shares of Erie Indemnity in a research report on Friday, July 31st.

Shares of ERIE traded up $5.70 during trading hours on Monday, reaching $242.58. The stock had a trading volume of 525 shares, compared to its average volume of 91,959. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.08. Erie Indemnity has a 52 week low of $130.20 and a 52 week high of $247.98. The firm has a 50-day moving average of $225.90 and a 200 day moving average of $202.41. The company has a market cap of $10.94 billion, a P/E ratio of 44.01 and a beta of 0.50.

Erie Indemnity (NASDAQ:ERIE) last released its quarterly earnings data on Thursday, October 29th. The financial services provider reported $1.71 EPS for the quarter, beating the Zacks’ consensus estimate of $1.65 by $0.06. Erie Indemnity had a net margin of 11.49% and a return on equity of 24.73%. As a group, equities analysts expect that Erie Indemnity will post 5.5 earnings per share for the current year.

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, policy issuance, and renewal 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; and other services consist of customer services and administrative support services, as well as information technology services.

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

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