Erie Indemnity (ERIE) Given Consensus Recommendation of “Strong Buy” by Analysts

Shares of Erie Indemnity (NASDAQ:ERIE) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.

Zacks has also assigned Erie Indemnity an industry rank of 214 out of 265 based on the ratings given to related companies.

Separately, BidaskClub raised Erie Indemnity from a “strong sell” rating to a “sell” rating in a research report on Friday, February 2nd.

Shares of Erie Indemnity (NASDAQ ERIE) opened at $112.68 on Thursday. The stock has a market capitalization of $5,890.00, a PE ratio of 28.03 and a beta of 0.42. Erie Indemnity has a 52 week low of $106.62 and a 52 week high of $129.73. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.92 and a current ratio of 1.92.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 23rd. Investors of record on Monday, January 8th were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Friday, January 5th. This is a boost from Erie Indemnity’s previous quarterly dividend of $0.78. Erie Indemnity’s payout ratio is currently 83.58%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SeaCrest Wealth Management LLC acquired a new position in Erie Indemnity in the 4th quarter valued at approximately $161,000. The Manufacturers Life Insurance Company raised its holdings in Erie Indemnity by 7.1% in the 2nd 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 in the last quarter. Public Employees Retirement Association of Colorado raised its holdings in Erie Indemnity by 100.9% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,559 shares of the financial services provider’s stock valued at $190,000 after acquiring an additional 783 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in Erie Indemnity in the 4th quarter valued at approximately $231,000. Finally, Crossmark Global Holdings Inc. acquired a new position in Erie Indemnity in the 3rd quarter valued at approximately $237,000. 31.18% of the stock is owned by institutional investors and hedge funds.

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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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