Great West Life Assurance Co. Can continued to hold its position in shares of Erie Indemnity Company (NASDAQ:ERIE) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,867 shares of the financial services provider’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Erie Indemnity were worth $358,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in ERIE. BlackRock Inc. increased its stake in shares of Erie Indemnity by 11,772.6% in the first quarter. BlackRock Inc. now owns 912,175 shares of the financial services provider’s stock valued at $111,923,000 after buying an additional 904,492 shares during the period. Vanguard Group Inc. increased its stake in shares of Erie Indemnity by 7.7% in the first quarter. Vanguard Group Inc. now owns 2,287,427 shares of the financial services provider’s stock valued at $280,667,000 after buying an additional 163,116 shares during the period. Karp Capital Management Corp acquired a new position in shares of Erie Indemnity in the first quarter valued at approximately $3,023,000. First Trust Advisors LP increased its stake in shares of Erie Indemnity by 10.4% in the first quarter. First Trust Advisors LP now owns 145,764 shares of the financial services provider’s stock valued at $17,885,000 after buying an additional 13,727 shares during the period. Finally, Oxford Asset Management acquired a new position in shares of Erie Indemnity in the first quarter valued at approximately $1,515,000. 30.97% of the stock is owned by institutional investors.
Shares of Erie Indemnity Company (NASDAQ:ERIE) opened at 120.20 on Tuesday. Erie Indemnity Company has a 52-week low of $96.01 and a 52-week high of $129.73. The firm has a market cap of $6.29 billion, a P/E ratio of 30.05 and a beta of 0.47. The firm’s 50-day moving average is $122.97 and its 200-day moving average is $121.63.
Erie Indemnity (NASDAQ:ERIE) last released its earnings results on Thursday, July 27th. The financial services provider reported $1.12 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.21 by $0.09. The firm had revenue of $448.56 million during the quarter, compared to the consensus estimate of $447.41 million. Erie Indemnity had a return on equity of 25.11% and a net margin of 12.73%. Analysts anticipate that Erie Indemnity Company will post $3.90 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Thursday, October 5th will be given a $0.783 dividend. This is an increase from Erie Indemnity’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $3.13 dividend on an annualized basis and a yield of 2.61%. Erie Indemnity’s payout ratio is presently 78.45%.
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Several research analysts have recently issued reports on ERIE shares. BidaskClub raised Erie Indemnity from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Zacks Investment Research raised Erie Indemnity from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th.
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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