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Culbertson A N & Co. Inc. Has $775,000 Stake in Erie Indemnity Company (NASDAQ:ERIE)
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Several other large investors also recently modified their holdings of the company. Janney Montgomery Scott LLC increased its position in Erie Indemnity by 11.6% in the first quarter. Janney Montgomery Scott LLC now owns 4,280 shares of the financial services provider’s stock worth $525,000 after buying an additional 446 shares during the period. Teachers Advisors LLC increased its position in Erie Indemnity by 62.8% in the fourth quarter. Teachers Advisors LLC now owns 43,158 shares of the financial services provider’s stock worth $4,853,000 after buying an additional 16,654 shares during the period. Federated Investors Inc. PA acquired a new position in Erie Indemnity during the fourth quarter worth $466,000. Swiss National Bank increased its position in Erie Indemnity by 0.7% in the first quarter. Swiss National Bank now owns 42,009 shares of the financial services provider’s stock worth $5,155,000 after buying an additional 300 shares during the period. Finally, State Street Corp increased its position in Erie Indemnity by 0.9% in the fourth quarter. State Street Corp now owns 335,334 shares of the financial services provider’s stock worth $37,701,000 after buying an additional 2,974 shares during the period. Institutional investors and hedge funds own 30.85% of the company’s stock.
Erie Indemnity Company (NASDAQ ERIE) traded up 2.4981% on Tuesday, reaching $123.9099. 45,551 shares of the company were exchanged. The stock has a market capitalization of $6.48 billion, a P/E ratio of 30.5950 and a beta of 0.43. Erie Indemnity Company has a 12-month low of $96.01 and a 12-month high of $129.15. The company’s 50-day moving average price is $119.98 and its 200-day moving average price is $117.97.
Erie Indemnity (NASDAQ:ERIE) last announced its earnings results on Monday, May 1st. The financial services provider reported $0.91 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by $0.04. The firm had revenue of $399.32 million during the quarter, compared to analysts’ expectations of $394.47 million. Erie Indemnity had a net margin of 13.10% and a return on equity of 25.80%. During the same quarter in the prior year, the company earned $0.87 EPS. Equities research analysts anticipate that Erie Indemnity Company will post $4.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Stockholders of record on Thursday, July 6th will be issued a $0.7825 dividend. The ex-dividend date of this dividend is Monday, July 3rd. This represents a $3.13 annualized dividend and a dividend yield of 2.59%. Erie Indemnity’s dividend payout ratio is currently 77.48%.
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ERIE has been the subject of a number of analyst reports. BidaskClub raised shares of Erie Indemnity from a “hold” rating to a “buy” rating in a research report on Saturday, June 17th. Zacks Investment Research raised shares of Erie Indemnity from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th.
In other news, CEO Timothy G. Necastro bought 430 shares of the stock in a transaction dated Monday, May 15th. The stock was bought at an average price 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 approximately $1,353,498.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 46.79% of the company’s stock.
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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