Shares of Erie Indemnity Company (NASDAQ:ERIE) have earned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Zacks has also assigned Erie Indemnity an industry rank of 198 out of 265 based on the ratings given to its competitors.

Several research firms have recently commented on ERIE. Zacks Investment Research cut Erie Indemnity from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. BidaskClub cut Erie Indemnity from a “buy” rating to a “hold” rating in a research note on Monday, July 31st.

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Erie Indemnity (NASDAQ ERIE) opened at $122.52 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.92 and a quick ratio of 1.92. Erie Indemnity has a 52-week low of $100.83 and a 52-week high of $129.73. The stock has a market capitalization of $5,673.40, a price-to-earnings ratio of 30.56 and a beta of 0.45.

Erie Indemnity (NASDAQ:ERIE) last released its earnings results on Thursday, October 26th. The financial services provider reported $1.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.01. The company had revenue of $442.49 million during the quarter, compared to analysts’ expectations of $437.72 million. Erie Indemnity had a return on equity of 24.98% and a net margin of 12.62%. equities research analysts expect that Erie Indemnity will post 3.9 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in shares of Erie Indemnity by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 4,917,607 shares of the financial services provider’s stock valued at $615,044,000 after buying an additional 24,203 shares during the period. Vanguard Group Inc. increased its stake in shares of Erie Indemnity by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 2,316,616 shares of the financial services provider’s stock valued at $289,739,000 after buying an additional 29,189 shares during the period. BlackRock Inc. increased its stake in shares of Erie Indemnity by 3.1% in the 2nd quarter. BlackRock Inc. now owns 940,441 shares of the financial services provider’s stock valued at $117,620,000 after buying an additional 28,266 shares during the period. State Street Corp increased its stake in shares of Erie Indemnity by 3.9% in the 2nd quarter. State Street Corp now owns 358,213 shares of the financial services provider’s stock valued at $44,808,000 after buying an additional 13,608 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Erie Indemnity by 0.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 246,184 shares of the financial services provider’s stock valued at $30,790,000 after buying an additional 1,082 shares during the period. 30.78% of the stock is owned by institutional investors.

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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