Shares of Erie Indemnity Company (NASDAQ:ERIE) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Zacks has also given Erie Indemnity an industry rank of 205 out of 265 based on the ratings given to related companies.
Several research firms recently issued reports on ERIE. BidaskClub cut Erie Indemnity from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research upgraded Erie Indemnity from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd.
A number of institutional investors and hedge funds have recently modified their holdings of ERIE. BlackRock Inc. boosted its holdings in Erie Indemnity by 11,772.6% during the first quarter. BlackRock Inc. now owns 912,175 shares of the financial services provider’s stock worth $111,923,000 after buying an additional 904,492 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in shares of Erie Indemnity during the second quarter worth about $10,932,000. Vanguard Group Inc. raised its position in shares of Erie Indemnity by 1.3% during the second quarter. Vanguard Group Inc. now owns 2,316,616 shares of the financial services provider’s stock worth $289,739,000 after purchasing an additional 29,189 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Erie Indemnity by 0.5% during the second quarter. PNC Financial Services Group Inc. now owns 4,917,607 shares of the financial services provider’s stock worth $615,044,000 after purchasing an additional 24,203 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Erie Indemnity by 22.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 124,320 shares of the financial services provider’s stock worth $15,549,000 after purchasing an additional 22,950 shares during the period. Hedge funds and other institutional investors own 30.80% of the company’s stock.
Shares of Erie Indemnity (NASDAQ:ERIE) traded up $0.48 during mid-day trading on Friday, hitting $122.75. The stock had a trading volume of 17,118 shares, compared to its average volume of 20,804. The company has a market capitalization of $5,669.71, a PE ratio of 30.53 and a beta of 0.45. Erie Indemnity has a 12 month low of $105.38 and a 12 month high of $129.73. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.06.
Erie Indemnity (NASDAQ:ERIE) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.01. The business had revenue of $442.49 million for the quarter, compared to analysts’ expectations of $437.72 million. Erie Indemnity had a return on equity of 24.98% and a net margin of 12.62%. equities research analysts forecast that Erie Indemnity will post 3.9 earnings per share for the current year.
About Erie Indemnity
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Erie Indemnity Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Erie Indemnity Company and related companies with MarketBeat.com's FREE daily email newsletter.