BidaskClub upgraded shares of Erie Indemnity (NASDAQ:ERIE) from a buy rating to a strong-buy rating in a report published on Saturday morning, BidAskClub reports.

Several other equities analysts have also recently issued reports on ERIE. ValuEngine cut Erie Indemnity from a buy rating to a hold rating in a research note on Tuesday, March 17th. Zacks Investment Research cut Erie Indemnity from a hold rating to a sell rating in a research note on Monday, May 18th.

Shares of Erie Indemnity stock opened at $188.50 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.78 and a quick ratio of 1.78. The business’s 50 day simple moving average is $178.06 and its two-hundred day simple moving average is $168.39. The stock has a market capitalization of $8.77 billion, a P/E ratio of 32.78 and a beta of 0.55. Erie Indemnity has a one year low of $130.20 and a one year high of $270.23.

Erie Indemnity (NASDAQ:ERIE) last announced its quarterly earnings results on Thursday, May 7th. The financial services provider reported $1.13 EPS for the quarter, missing the Zacks’ consensus estimate of $1.53 by ($0.40). The company had revenue of $616.74 million during the quarter, compared to analysts’ expectations of $618.20 million. Erie Indemnity had a return on equity of 27.15% and a net margin of 12.03%. During the same period last year, the firm earned $1.44 earnings per share. Sell-side analysts expect that Erie Indemnity will post 5.6 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Tuesday, July 7th will be paid a dividend of $0.965 per share. The ex-dividend date is Monday, July 6th. This represents a $3.86 annualized dividend and a dividend yield of 2.05%. Erie Indemnity’s dividend payout ratio (DPR) is presently 63.70%.

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC purchased a new position in shares of Erie Indemnity during the fourth quarter valued at approximately $25,000. Parallel Advisors LLC grew its stake in Erie Indemnity by 49.1% in the first quarter. Parallel Advisors LLC now owns 237 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 78 shares during the period. Pearl River Capital LLC purchased a new stake in Erie Indemnity in the first quarter worth $54,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Erie Indemnity in the first quarter worth $98,000. Finally, US Bancorp DE grew its stake in Erie Indemnity by 21.1% in the first quarter. US Bancorp DE now owns 940 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 164 shares during the period. 35.00% of the stock is currently owned by hedge funds and other institutional investors.

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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