Erie Indemnity Company (ERIE) Given Consensus Rating of “Strong Buy” by Brokerages
Shares of Erie Indemnity Company (NASDAQ:ERIE) have been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.
Zacks has also given Erie Indemnity an industry rank of 206 out of 265 based on the ratings given to its competitors.
Several research firms have weighed in on ERIE. BidaskClub cut Erie Indemnity from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Zacks Investment Research cut Erie Indemnity from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd.
Erie Indemnity (ERIE) traded up $0.59 on Friday, reaching $122.40. The company had a trading volume of 8,186 shares, compared to its average volume of 19,497. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.06. Erie Indemnity has a fifty-two week low of $106.32 and a fifty-two week high of $129.73. The company has a market cap of $5,626.29, a price-to-earnings ratio of 30.30 and a beta of 0.45.
Erie Indemnity (NASDAQ:ERIE) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.01. Erie Indemnity had a return on equity of 24.98% and a net margin of 12.62%. The business had revenue of $442.49 million for the quarter, compared to analyst estimates of $437.72 million. equities research analysts anticipate that Erie Indemnity will post 3.9 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ERIE. JPMorgan Chase & Co. lifted its stake in shares of Erie Indemnity by 28.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,092 shares of the financial services provider’s stock valued at $134,000 after purchasing an additional 240 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Erie Indemnity by 7.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,369 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 91 shares during the period. NN Investment Partners Holdings N.V. purchased a new position in shares of Erie Indemnity in the 2nd quarter valued at approximately $183,000. SG Americas Securities LLC lifted its stake in shares of Erie Indemnity by 17.7% in the 2nd quarter. SG Americas Securities LLC now owns 1,741 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 262 shares during the period. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Erie Indemnity in the 3rd quarter valued at approximately $237,000. Institutional investors and hedge funds own 30.80% of the company’s stock.
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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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