Brokerages Expect Erie Indemnity (ERIE) to Announce $1.37 EPS

Shares of Erie Indemnity (NASDAQ:ERIE) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Zacks has also given Erie Indemnity an industry rank of 191 out of 255 based on the ratings given to its competitors.

Several research firms have weighed in on ERIE. BidaskClub raised Erie Indemnity from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 21st. ValuEngine upgraded shares of Erie Indemnity from a “hold” rating to a “buy” rating in a report on Monday, February 4th.



In other Erie Indemnity news, Director Salvatore Correnti bought 320 shares of the firm’s stock in a transaction dated Wednesday, December 26th. The shares were purchased at an average cost of $126.81 per share, for a total transaction of $40,579.20. Following the transaction, the director now owns 320 shares of the company’s stock, valued at $40,579.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Louis F. Colaizzo bought 750 shares of the firm’s stock in a transaction dated Monday, December 31st. The shares were acquired at an average price of $133.00 per share, for a total transaction of $99,750.00. Following the completion of the transaction, the senior vice president now directly owns 3,930 shares in the company, valued at approximately $522,690. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 1,820 shares of company stock worth $240,079. Corporate insiders own 46.84% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Citigroup Inc. raised its position in Erie Indemnity by 19.2% in the 4th quarter. Citigroup Inc. now owns 964 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 155 shares during the period. CNB Bank raised its position in Erie Indemnity by 8.6% in the 4th quarter. CNB Bank now owns 2,287 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 181 shares during the period. Macquarie Group Ltd. purchased a new stake in Erie Indemnity in the 4th quarter worth about $27,000. Janney Montgomery Scott LLC raised its position in Erie Indemnity by 4.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,443 shares of the financial services provider’s stock worth $726,000 after purchasing an additional 237 shares during the period. Finally, Brown Advisory Inc. raised its position in Erie Indemnity by 0.3% in the 4th quarter. Brown Advisory Inc. now owns 75,382 shares of the financial services provider’s stock worth $10,050,000 after purchasing an additional 242 shares during the period. 31.77% of the stock is currently owned by institutional investors.

Shares of NASDAQ ERIE traded down $0.49 during trading hours on Friday, hitting $175.95. The company’s stock had a trading volume of 130,215 shares, compared to its average volume of 63,554. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.06 and a quick ratio of 2.06. The stock has a market capitalization of $8.09 billion, a PE ratio of 31.93 and a beta of 0.50. Erie Indemnity has a 12 month low of $110.22 and a 12 month high of $188.02.

Erie Indemnity (NASDAQ:ERIE) last posted its earnings results on Thursday, February 21st. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.18. The company had revenue of $576.47 million for the quarter. Erie Indemnity had a return on equity of 31.89% and a net margin of 12.10%. As a group, equities research analysts anticipate that Erie Indemnity will post 6.08 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 23rd. Shareholders of record on Monday, April 8th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 2.05%. The ex-dividend date is Friday, April 5th. Erie Indemnity’s payout ratio is currently 65.34%.

Erie Indemnity 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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