Media headlines about Erie Indemnity (NASDAQ:ERIE) have been trending somewhat positive on Saturday, according to Accern Sentiment. The research group ranks the sentiment of news coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Erie Indemnity earned a media sentiment score of 0.21 on Accern’s scale. Accern also gave news articles about the financial services provider an impact score of 46.5938048518568 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Erie Indemnity (NASDAQ:ERIE) traded down 0.49% during trading on Friday, reaching $122.70. 13,802 shares of the company’s stock traded hands. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 30.67 and a beta of 0.43. Erie Indemnity has a 12 month low of $96.01 and a 12 month high of $129.73. The firm’s 50 day moving average is $124.46 and its 200-day moving average is $120.49.
Erie Indemnity (NASDAQ:ERIE) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by $0.09. The company had revenue of $448.56 million for the quarter, compared to analyst estimates of $447.41 million. Erie Indemnity had a return on equity of 25.11% and a net margin of 12.73%. Analysts expect that Erie Indemnity will post $3.98 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Thursday, October 5th will be given a dividend of $0.783 per share. This is an increase from Erie Indemnity’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $3.13 annualized dividend and a yield of 2.55%. Erie Indemnity’s dividend payout ratio is 78.45%.
Several equities analysts have commented on ERIE shares. Zacks Investment Research cut shares of Erie Indemnity from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 1st. BidaskClub raised shares of Erie Indemnity from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th.
In related news, CEO Timothy G. Necastro purchased 430 shares of Erie Indemnity stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average price of $116.24 per share, for a total transaction of $49,983.20. Following the transaction, the chief executive officer now directly owns 11,644 shares in the company, valued at $1,353,498.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 46.79% of the stock is owned by corporate insiders.
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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