Erie Indemnity Company (ERIE) Shares Sold by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA lowered its stake in Erie Indemnity Company (NASDAQ:ERIE) by 49.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,308 shares of the financial services provider’s stock after selling 2,299 shares during the period. BNP Paribas Arbitrage SA’s holdings in Erie Indemnity were worth $289,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Erie Indemnity by 7.7% during the first quarter. Vanguard Group Inc. now owns 2,287,427 shares of the financial services provider’s stock worth $280,667,000 after purchasing an additional 163,116 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Erie Indemnity by 11,772.6% during the first quarter. BlackRock Inc. now owns 912,175 shares of the financial services provider’s stock worth $111,923,000 after purchasing an additional 904,492 shares during the last quarter. State Street Corp raised its holdings in shares of Erie Indemnity by 2.8% during the first quarter. State Street Corp now owns 344,605 shares of the financial services provider’s stock worth $42,284,000 after purchasing an additional 9,271 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Erie Indemnity by 2.6% during the second quarter. Bank of New York Mellon Corp now owns 197,236 shares of the financial services provider’s stock worth $24,669,000 after purchasing an additional 4,984 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Erie Indemnity by 5.8% during the first quarter. Geode Capital Management LLC now owns 191,808 shares of the financial services provider’s stock worth $23,534,000 after purchasing an additional 10,491 shares during the last quarter. 30.97% of the stock is owned by institutional investors and hedge funds.

Erie Indemnity Company (NASDAQ ERIE) opened at 119.68 on Thursday. The stock has a market cap of $6.26 billion, a PE ratio of 29.92 and a beta of 0.47. Erie Indemnity Company has a one year low of $98.36 and a one year high of $129.73. The company’s 50 day moving average is $121.81 and its 200 day moving average is $121.58.

Erie Indemnity (NASDAQ:ERIE) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.12 EPS for the quarter, missing the 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 business had revenue of $448.56 million during the quarter, compared to analysts’ expectations of $447.41 million. On average, equities research analysts expect that Erie Indemnity Company will post $3.90 EPS for the current year.

The firm 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 $0.783 dividend. This is an increase from Erie Indemnity’s previous quarterly dividend of $0.78. The ex-dividend date is Wednesday, October 4th. This represents a $3.13 annualized dividend and a yield of 2.62%. Erie Indemnity’s dividend payout ratio is 78.45%.

Several research analysts recently issued reports on ERIE shares. BidaskClub raised shares of Erie Indemnity from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Zacks Investment Research raised shares of Erie Indemnity from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th.

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About Erie Indemnity

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.

Institutional Ownership by Quarter for Erie Indemnity (NASDAQ:ERIE)

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