California Public Employees Retirement System Sells 200 Shares of Erie Indemnity Company (ERIE)
California Public Employees Retirement System cut its stake in Erie Indemnity Company (NASDAQ:ERIE) by 0.2% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 102,655 shares of the company’s stock after selling 200 shares during the period. California Public Employees Retirement System’s holdings in Erie Indemnity Company were worth $10,478,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Capstone Asset Management Co. acquired a new stake in shares of Erie Indemnity Company during the third quarter valued at $205,000. Pacer Advisors Inc. boosted its stake in shares of Erie Indemnity Company by 522.0% in the second quarter. Pacer Advisors Inc. now owns 2,401 shares of the company’s stock valued at $238,000 after buying an additional 2,015 shares during the period. Menta Capital LLC acquired a new stake in shares of Erie Indemnity Company during the second quarter valued at $318,000. Teacher Retirement System of Texas boosted its stake in shares of Erie Indemnity Company by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,577 shares of the company’s stock valued at $355,000 after buying an additional 434 shares during the period. Finally, A.R.T. Advisors LLC acquired a new stake in shares of Erie Indemnity Company during the second quarter valued at $355,000. Institutional investors and hedge funds own 30.70% of the company’s stock.
Shares of Erie Indemnity Company (NASDAQ:ERIE) opened at 110.40 on Friday. The firm has a market cap of $5.77 billion, a PE ratio of 29.72 and a beta of 0.44. The firm has a 50-day moving average of $111.09 and a 200 day moving average of $102.75. Erie Indemnity Company has a 52 week low of $88.69 and a 52 week high of $116.21.
Erie Indemnity Company (NASDAQ:ERIE) last announced its earnings results on Thursday, October 27th. The company reported $1.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.07. The company earned $418.40 million during the quarter, compared to the consensus estimate of $419.94 million. Erie Indemnity Company had a net margin of 12.38% and a return on equity of 24.48%. Equities research analysts predict that Erie Indemnity Company will post $3.95 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 20th. Investors of record on Thursday, January 5th will be given a dividend of $0.7825 per share. The ex-dividend date of this dividend is Tuesday, January 3rd. This represents a $3.13 annualized dividend and a yield of 2.84%. This is a positive change from Erie Indemnity Company’s previous quarterly dividend of $0.73. Erie Indemnity Company’s dividend payout ratio is presently 84.59%.
Separately, Zacks Investment Research cut shares of Erie Indemnity Company from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 4th.
Erie Indemnity Company Company Profile
Erie Indemnity Company is a management company. The Company serves as the attorney-in-fact for the subscribers (policyholders) at the Erie Insurance Exchange (Exchange). The Exchange is a reciprocal insurer that writes property and casualty insurance. The Company’s primary function is to perform certain services for the Exchange relating to the sales, underwriting and issuance of policies on behalf of the Exchange.
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