Shares of Erie Indemnity Co. (NASDAQ:ERIE) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Zacks has also given Erie Indemnity an industry rank of 181 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research cut Erie Indemnity from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 4th.
In other Erie Indemnity news, EVP John F. Kearns sold 1,823 shares of Erie Indemnity stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $103.55, for a total value of $188,771.65. Following the transaction, the executive vice president now directly owns 1,323 shares of the company’s stock, valued at approximately $136,996.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John F. Kearns sold 300 shares of Erie Indemnity stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $101.86, for a total value of $30,558.00. Following the completion of the transaction, the executive vice president now directly owns 1,823 shares in the company, valued at $185,690.78. The disclosure for this sale can be found here. Corporate insiders own 47.46% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ERIE. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Erie Indemnity by 11.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 997 shares of the company’s stock worth $102,000 after buying an additional 104 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in Erie Indemnity during the second quarter valued at $119,000. The Manufacturers Life Insurance Company purchased a new stake in Erie Indemnity during the third quarter valued at $130,000. Societe Generale purchased a new stake in Erie Indemnity during the second quarter valued at $151,000. Finally, Sandy Spring Bank purchased a new stake in Erie Indemnity during the third quarter valued at $184,000. 30.46% of the stock is currently owned by institutional investors and hedge funds.
Shares of Erie Indemnity (NASDAQ:ERIE) opened at 108.99 on Wednesday. The stock’s 50 day moving average price is $103.43 and its 200 day moving average price is $99.74. Erie Indemnity has a 12-month low of $88.69 and a 12-month high of $109.01. The company has a market capitalization of $5.70 billion, a PE ratio of 29.34 and a beta of 0.43.
Erie Indemnity (NASDAQ:ERIE) last released its quarterly earnings results on Thursday, October 27th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.07. Erie Indemnity had a return on equity of 24.48% and a net margin of 12.38%. The firm had revenue of $418.40 million for the quarter, compared to analysts’ expectations of $419.94 million. On average, equities research analysts forecast that Erie Indemnity will post $3.87 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 primary function is to perform certain services for the Exchange relating to the sales, underwriting and issuance of policies on behalf of the Exchange.