Public Employees Retirement System of Ohio trimmed its holdings in Erie Indemnity (NASDAQ:ERIE) by 4.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 11,717 shares of the financial services provider’s stock after selling 589 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Erie Indemnity were worth $1,374,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ERIE. Dynamic Technology Lab Private Ltd purchased a new position in Erie Indemnity in the 1st quarter valued at approximately $207,000. Stevens Capital Management LP purchased a new position in Erie Indemnity in the 2nd quarter valued at approximately $267,000. Hartford Investment Management Co. purchased a new position in Erie Indemnity in the 2nd quarter valued at approximately $282,000. BNP Paribas Arbitrage SA grew its stake in Erie Indemnity by 280.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,663 shares of the financial services provider’s stock valued at $313,000 after buying an additional 1,963 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its stake in Erie Indemnity by 26.5% in the 1st 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. Institutional investors and hedge funds own 31.23% of the company’s stock.

Erie Indemnity stock opened at $121.99 on Friday. Erie Indemnity has a 1-year low of $106.63 and a 1-year high of $130.36. The company has a market capitalization of $5.89 billion, a P/E ratio of 31.50 and a beta of 0.41. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.11.

Erie Indemnity (NASDAQ:ERIE) last released its quarterly earnings data on Thursday, July 26th. The financial services provider reported $1.52 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.12. Erie Indemnity had a net margin of 11.59% and a return on equity of 28.52%. The business had revenue of $621.46 million during the quarter, compared to analyst estimates of $471.02 million. Sell-side analysts forecast that Erie Indemnity will post 4.91 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 23rd. Shareholders of record on Tuesday, October 9th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 2.75%. The ex-dividend date is Monday, October 8th. Erie Indemnity’s payout ratio is 85.06%.

In other news, CEO Timothy G. Necastro purchased 1,550 shares of the business’s stock in a transaction on Tuesday, August 21st. The stock was purchased at an average cost of $127.89 per share, with a total value of $198,229.50. Following the acquisition, the chief executive officer now directly owns 14,901 shares in the company, valued at $1,905,688.89. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 46.84% of the stock is owned by company insiders.

Separately, BidaskClub upgraded shares of Erie Indemnity from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 20th.

Erie Indemnity 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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Institutional Ownership by Quarter for Erie Indemnity (NASDAQ:ERIE)

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