Shares of Erie Indemnity (NASDAQ:ERIE) have received an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and one has given a strong buy rating to the company.

Zacks has also assigned Erie Indemnity an industry rank of 141 out of 254 based on the ratings given to related companies.

Several equities analysts have recently commented on ERIE shares. ValuEngine cut shares of Erie Indemnity from a “buy” rating to a “hold” rating in a research report on Tuesday, March 17th. Zacks Investment Research cut shares of Erie Indemnity from a “hold” rating to a “sell” rating in a research report on Monday, May 18th. Finally, BidaskClub lowered shares of Erie Indemnity from a “buy” rating to a “hold” rating in a report on Tuesday, May 5th.

In related news, Director Eugene C. Connell purchased 275 shares of the firm’s stock in a transaction that occurred on Wednesday, March 25th. The shares were bought at an average cost of $139.82 per share, with a total value of $38,450.50. Following the acquisition, the director now owns 17,358 shares of the company’s stock, valued at approximately $2,426,995.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 45.77% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC bought a new stake in Erie Indemnity during the 4th quarter worth approximately $25,000. Parallel Advisors LLC grew its holdings in Erie Indemnity by 49.1% during the 1st quarter. Parallel Advisors LLC now owns 237 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 78 shares during the last quarter. Pearl River Capital LLC bought a new stake in Erie Indemnity during the 1st quarter worth approximately $54,000. Lighthouse Financial Advisors Inc. bought a new stake in Erie Indemnity during the 4th quarter worth approximately $81,000. Finally, Emerald Advisers LLC bought a new stake in Erie Indemnity during the 4th quarter worth approximately $95,000. 35.00% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:ERIE traded down $2.10 during midday trading on Tuesday, hitting $172.19. The stock had a trading volume of 63,400 shares, compared to its average volume of 121,938. The company’s 50-day moving average price is $171.62 and its 200-day moving average price is $167.10. The company has a market capitalization of $7.95 billion, a P/E ratio of 30.41 and a beta of 0.56. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.09. Erie Indemnity has a fifty-two week low of $130.20 and a fifty-two week high of $270.23.

Erie Indemnity (NASDAQ:ERIE) last issued its earnings results on Thursday, May 7th. The financial services provider reported $1.13 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.40). The firm had revenue of $616.74 million during the quarter, compared to analyst estimates of $618.20 million. Erie Indemnity had a net margin of 12.03% and a return on equity of 27.15%. During the same quarter in the previous year, the firm posted $1.44 earnings per share. Research analysts expect that Erie Indemnity will post 5.6 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Tuesday, July 7th will be issued a dividend of $0.965 per share. This represents a $3.86 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Monday, July 6th. Erie Indemnity’s dividend payout ratio (DPR) is presently 63.70%.

About Erie Indemnity

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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