Somewhat Positive News Coverage Somewhat Unlikely to Impact Erie Indemnity (NASDAQ:ERIE) Stock Price
News coverage about Erie Indemnity (NASDAQ:ERIE) has trended somewhat positive on Friday, Accern Sentiment Analysis reports. Accern identifies positive and negative press coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Erie Indemnity earned a daily sentiment score of 0.10 on Accern’s scale. Accern also assigned media coverage about the financial services provider an impact score of 47.6578186817334 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Erie Indemnity from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. BidaskClub downgraded shares of Erie Indemnity from a “buy” rating to a “hold” rating in a report on Monday, July 31st.
Erie Indemnity (NASDAQ ERIE) traded down 0.49% during mid-day trading on Friday, hitting $122.70. 13,802 shares of the company traded hands. Erie Indemnity has a one year low of $96.01 and a one year high of $129.73. The company’s 50-day moving average is $124.46 and its 200-day moving average is $120.49. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 30.67 and a beta of 0.43.
Erie Indemnity (NASDAQ:ERIE) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by $0.09. Erie Indemnity had a net margin of 12.73% and a return on equity of 25.11%. The company had revenue of $448.56 million during the quarter, compared to analyst estimates of $447.41 million. Analysts predict that Erie Indemnity will post $3.98 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Thursday, October 5th will be issued a $0.783 dividend. This is an increase from Erie Indemnity’s previous quarterly dividend of $0.78. This represents a $3.13 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Wednesday, October 4th. Erie Indemnity’s payout ratio is currently 78.45%.
In related news, CEO Timothy G. Necastro acquired 430 shares of the firm’s stock in a transaction on Monday, May 15th. The shares were purchased at an average cost of $116.24 per share, for a total transaction of $49,983.20. Following the completion of the acquisition, the chief executive officer now directly owns 11,644 shares in the company, valued at $1,353,498.56. The purchase was disclosed in a filing with the SEC, which is available at this link. 46.79% of the stock is owned by insiders.
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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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