Analysts Anticipate Erie Indemnity Company (ERIE) to Post $0.76 EPS
Erie Indemnity Company (NASDAQ:ERIE) has earned 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 rating.
Zacks has also given Erie Indemnity an industry rank of 198 out of 265 based on the ratings given to related companies.
A number of research firms have weighed in on ERIE. BidaskClub cut shares of Erie Indemnity from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of Erie Indemnity from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd.
A number of large investors have recently bought and sold shares of ERIE. JPMorgan Chase & Co. raised its position in Erie Indemnity by 28.2% during the first quarter. JPMorgan Chase & Co. now owns 1,092 shares of the financial services provider’s stock worth $134,000 after acquiring an additional 240 shares during the period. The Manufacturers Life Insurance Company raised its position in Erie Indemnity by 7.1% during the second quarter. The Manufacturers Life Insurance Company now owns 1,369 shares of the financial services provider’s stock worth $171,000 after acquiring an additional 91 shares during the period. SG Americas Securities LLC acquired a new position in Erie Indemnity during the first quarter worth $181,000. NN Investment Partners Holdings N.V. acquired a new position in Erie Indemnity during the second quarter worth $183,000. Finally, Atria Investments LLC acquired a new stake in shares of Erie Indemnity in the second quarter valued at about $204,000. Institutional investors own 30.79% of the company’s stock.
Erie Indemnity (ERIE) traded up $0.13 on Friday, hitting $122.83. 23,849 shares of the company traded hands, compared to its average volume of 25,489. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.92 and a current ratio of 1.92. Erie Indemnity has a 1 year low of $100.83 and a 1 year high of $129.73. The firm has a market cap of $6,420.00, a PE ratio of 30.55 and a beta of 0.45.
Erie Indemnity (NASDAQ:ERIE) last posted its 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. Erie Indemnity had a net margin of 12.62% and a return on equity of 24.98%. The firm had revenue of $442.49 million during the quarter, compared to analysts’ expectations of $437.72 million. analysts forecast that Erie Indemnity will post 3.9 earnings per share for the current fiscal year.
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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