Erie Indemnity Company Class A (ERIE) Given Average Recommendation of “Strong Buy” by Analysts

Erie Indemnity Company Class A (NASDAQ:ERIE) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.

Zacks has also given Erie Indemnity Company Class A an industry rank of 218 out of 255 based on the ratings given to its competitors.

Separately, BidaskClub cut Erie Indemnity Company Class A from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 19th.

In other Erie Indemnity Company Class A news, CEO Timothy G. Necastro purchased 1,550 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were acquired at an average price of $127.89 per share, for a total transaction of $198,229.50. Following the completion of the purchase, the chief executive officer now owns 14,901 shares in the company, valued at approximately $1,905,688.89. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 46.79% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. US Bancorp DE lifted its stake in shares of Erie Indemnity Company Class A by 70.2% in the first quarter. US Bancorp DE now owns 1,064 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 439 shares in the last quarter. Sei Investments Co. raised its stake in Erie Indemnity Company Class A by 0.9% during the second quarter. Sei Investments Co. now owns 51,856 shares of the financial services provider’s stock valued at $6,081,000 after buying an additional 465 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Erie Indemnity Company Class A by 9.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,000 shares of the financial services provider’s stock valued at $706,000 after buying an additional 508 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in Erie Indemnity Company Class A by 26.5% during the first quarter. Xact Kapitalforvaltning AB now owns 2,865 shares of the financial services provider’s stock valued at $337,000 after buying an additional 600 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Erie Indemnity Company Class A by 32.2% during the second quarter. State of Alaska Department of Revenue now owns 3,000 shares of the financial services provider’s stock valued at $350,000 after buying an additional 730 shares in the last quarter. Institutional investors and hedge funds own 31.26% of the company’s stock.

NASDAQ:ERIE opened at $127.74 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.92 and a current ratio of 1.92. Erie Indemnity Company Class A has a one year low of $106.63 and a one year high of $128.90. The stock has a market capitalization of $5.87 billion, a P/E ratio of 32.34 and a beta of 0.39.

Erie Indemnity Company Class A (NASDAQ:ERIE) last released its quarterly earnings results on Thursday, July 26th. The financial services provider reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.12. Erie Indemnity Company Class A had a return on equity of 28.52% and a net margin of 11.59%. The business had revenue of $621.46 million for the quarter, compared to analysts’ expectations of $471.02 million. equities research analysts predict that Erie Indemnity Company Class A will post 4.91 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 23rd. Investors of record on Tuesday, October 9th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 2.63%. The ex-dividend date is Monday, October 8th. Erie Indemnity Company Class A’s dividend payout ratio (DPR) is 85.06%.

Erie Indemnity Company Class A Company Profile

Erie Indemnity Company operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States. The company provides sales, underwriting, and policy issuance services for the policyholders on behalf of the Erie Insurance Exchange. Its sales related services include agent compensation, and sales and advertising support services; and underwriting services comprise underwriting and policy processing, as well as provides administrative support, information technology, and customer services.

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