Erie Indemnity (ERIE) Announces Earnings Results

Erie Indemnity (NASDAQ:ERIE) released its earnings results on Thursday. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.18, Fidelity Earnings reports. Erie Indemnity had a return on equity of 28.52% and a net margin of 11.59%. The company had revenue of $612.13 million during the quarter.

Shares of NASDAQ:ERIE traded up $4.04 during midday trading on Friday, hitting $130.13. 55,100 shares of the stock were exchanged, compared to its average volume of 33,836. The company has a market capitalization of $5.87 billion, a PE ratio of 32.94 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 has a twelve month low of $106.63 and a twelve month high of $130.93.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 23rd. Stockholders of record on Tuesday, October 9th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Monday, October 8th. Erie Indemnity’s dividend payout ratio (DPR) is presently 85.06%.

In other news, CEO Timothy G. Necastro purchased 1,550 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was acquired at an average price of $127.89 per share, with a total value of $198,229.50. Following the purchase, the chief executive officer now directly owns 14,901 shares of the company’s stock, valued at approximately $1,905,688.89. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 46.84% of the company’s stock.

Separately, BidaskClub raised Erie Indemnity from a “hold” rating to a “buy” rating in a report on Wednesday.

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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Earnings History for Erie Indemnity (NASDAQ:ERIE)

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