Shares of Erie Indemnity (NASDAQ:ERIE) have earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Zacks has also assigned Erie Indemnity an industry rank of 90 out of 265 based on the ratings given to related companies.

Separately, Zacks Investment Research upgraded Erie Indemnity from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. State of Wisconsin Investment Board increased its stake in Erie Indemnity by 1.0% during the second quarter. State of Wisconsin Investment Board now owns 4,947 shares of the financial services provider’s stock valued at $619,000 after acquiring an additional 50 shares during the period. The Manufacturers Life Insurance Company increased its stake 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 valued at $171,000 after acquiring an additional 91 shares during the period. Utah Retirement Systems increased its stake in Erie Indemnity by 2.3% during the second quarter. Utah Retirement Systems now owns 4,534 shares of the financial services provider’s stock valued at $567,000 after acquiring an additional 100 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Erie Indemnity by 1.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 10,715 shares of the financial services provider’s stock valued at $1,340,000 after acquiring an additional 125 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in Erie Indemnity by 1.8% during the second quarter. Public Employees Retirement System of Ohio now owns 13,291 shares of the financial services provider’s stock valued at $1,662,000 after acquiring an additional 233 shares during the period. Hedge funds and other institutional investors own 30.90% of the company’s stock.

Erie Indemnity (NASDAQ:ERIE) opened at $117.37 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.92 and a quick ratio of 1.92. The company has a market capitalization of $5,495.58, a PE ratio of 29.20 and a beta of 0.47. Erie Indemnity has a 12 month low of $106.91 and a 12 month high of $129.73.

Erie Indemnity (NASDAQ:ERIE) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.01. The business had revenue of $442.49 million for the quarter, compared to analyst estimates of $437.72 million. Erie Indemnity had a return on equity of 24.98% and a net margin of 12.62%. research analysts predict that Erie Indemnity will post 3.9 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 23rd. Investors of record on Monday, January 8th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 2.86%. This is a positive change from Erie Indemnity’s previous quarterly dividend of $0.78. The ex-dividend date is Friday, January 5th. Erie Indemnity’s payout ratio is currently 77.86%.

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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.

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