Wall Street brokerages forecast that Erie Indemnity (NASDAQ:ERIE) will announce $1.36 earnings per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Erie Indemnity’s earnings. Erie Indemnity posted earnings per share of $1.12 during the same quarter last year, which suggests a positive year over year growth rate of 21.4%. The company is expected to issue its next quarterly earnings report on Thursday, October 25th.
According to Zacks, analysts expect that Erie Indemnity will report full-year earnings of $4.91 per share for the current financial year. For the next year, analysts anticipate that the business will post earnings of $5.17 per share. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Erie Indemnity.
Erie Indemnity (NASDAQ:ERIE) last posted its earnings results on Thursday, July 26th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.12. The company had revenue of $621.46 million during the quarter, compared to the consensus estimate of $471.02 million. Erie Indemnity had a net margin of 11.59% and a return on equity of 28.52%.
NASDAQ ERIE traded up $0.31 on Thursday, reaching $126.50. 25,800 shares of the company’s stock traded hands, compared to its average volume of 33,589. The company has a market capitalization of $5.85 billion, a PE ratio of 32.31 and a beta of 0.39. Erie Indemnity has a fifty-two week low of $106.63 and a fifty-two week high of $130.36. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.92 and a quick ratio of 1.92.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 23rd. Investors of record on Tuesday, October 9th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, October 8th. This represents a $3.36 dividend on an annualized basis and a yield of 2.66%. Erie Indemnity’s dividend payout ratio is presently 85.06%.
In other Erie Indemnity news, CEO Timothy G. Necastro bought 1,550 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was bought at an average cost of $127.89 per share, for a total transaction of $198,229.50. Following the completion of the transaction, the chief executive officer now directly owns 14,901 shares of the company’s stock, valued at approximately $1,905,688.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 46.79% of the company’s stock.
Several institutional investors have recently modified their holdings of ERIE. US Bancorp DE raised its position in shares of Erie Indemnity by 70.2% in the first quarter. US Bancorp DE now owns 1,064 shares of the financial services provider’s stock worth $126,000 after acquiring an additional 439 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Erie Indemnity in the first quarter worth about $207,000. Clinton Group Inc. acquired a new position in shares of Erie Indemnity in the first quarter worth about $262,000. Stevens Capital Management LP acquired a new position in shares of Erie Indemnity in the second quarter worth about $267,000. Finally, Hartford Investment Management Co. acquired a new position in shares of Erie Indemnity in the second quarter worth about $282,000. Institutional investors and hedge funds own 31.23% of the company’s stock.
Erie Indemnity Company Profile
Erie Indemnity Company operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States. The company provides sales, underwriting, and policy issuance services for the policyholders on behalf of the Erie Insurance Exchange. Its sales related services include agent compensation, and sales and advertising support services; and underwriting services comprise underwriting and policy processing, as well as provides administrative support, information technology, and customer services.
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