Advisor Group Inc. grew its position in shares of Erie Indemnity Company (NASDAQ:ERIE) by 159,500.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,980 shares of the financial services provider’s stock after purchasing an additional 7,975 shares during the quarter. Advisor Group Inc.’s holdings in Erie Indemnity were worth $998,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in shares of Erie Indemnity by 0.5% during the second quarter. PNC Financial Services Group Inc. now owns 4,917,607 shares of the financial services provider’s stock worth $615,044,000 after purchasing an additional 24,203 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Erie Indemnity by 1.3% during the second quarter. Vanguard Group Inc. now owns 2,316,616 shares of the financial services provider’s stock worth $289,739,000 after purchasing an additional 29,189 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Erie Indemnity by 3.1% during the second quarter. BlackRock Inc. now owns 940,441 shares of the financial services provider’s stock worth $117,620,000 after purchasing an additional 28,266 shares during the last quarter. State Street Corp grew its holdings in shares of Erie Indemnity by 2.8% during the first quarter. State Street Corp now owns 344,605 shares of the financial services provider’s stock worth $42,284,000 after purchasing an additional 9,271 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Erie Indemnity by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 197,236 shares of the financial services provider’s stock worth $24,669,000 after purchasing an additional 4,984 shares during the last quarter. 30.97% of the stock is currently owned by institutional investors.

Erie Indemnity Company (NASDAQ ERIE) opened at 120.57 on Friday. The stock has a market cap of $6.30 billion, a price-to-earnings ratio of 30.14 and a beta of 0.47. The firm’s 50 day moving average price is $121.81 and its 200 day moving average price is $121.58. Erie Indemnity Company has a one year low of $98.36 and a one year high of $129.73.

Erie Indemnity (NASDAQ:ERIE) last released its earnings results on Thursday, July 27th. The financial services provider reported $1.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.09). The company had revenue of $448.56 million during the quarter, compared to the consensus estimate of $447.41 million. Erie Indemnity had a return on equity of 25.11% and a net margin of 12.73%. Equities analysts forecast that Erie Indemnity Company will post $3.90 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Thursday, October 5th will be given a $0.783 dividend. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $3.13 annualized dividend and a dividend yield of 2.60%. This is an increase from Erie Indemnity’s previous quarterly dividend of $0.78. Erie Indemnity’s payout ratio is presently 78.45%.

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Several equities analysts have issued reports on the company. BidaskClub lowered Erie Indemnity from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research raised Erie Indemnity from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th.

Erie Indemnity 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 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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Institutional Ownership by Quarter for Erie Indemnity (NASDAQ:ERIE)

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