Brokerages Expect Erie Indemnity (NASDAQ:ERIE) to Announce $1.64 Earnings Per Share

Erie Indemnity (NASDAQ:ERIE) has received a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.

Zacks has also assigned Erie Indemnity an industry rank of 165 out of 256 based on the ratings given to related companies.

Several equities analysts have recently issued reports on ERIE shares. Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. ValuEngine cut shares of Intersect ENT from a “buy” rating to a “hold” rating in a research note on Monday, June 3rd. Finally, BidaskClub raised shares of Zebra Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 6th.

ERIE traded up $0.55 on Friday, reaching $265.08. The company had a trading volume of 1,746 shares, compared to its average volume of 165,611. The stock’s 50-day simple moving average is $239.52. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.04 and a quick ratio of 2.04. Erie Indemnity has a 1 year low of $117.40 and a 1 year high of $267.98. The company has a market cap of $12.22 billion, a PE ratio of 48.01 and a beta of 0.49.

Erie Indemnity (NASDAQ:ERIE) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.07. The company had revenue of $594.11 million for the quarter, compared to analysts’ expectations of $598.96 million. Erie Indemnity had a net margin of 12.39% and a return on equity of 31.44%. During the same quarter in the previous year, the company posted $1.26 EPS. On average, equities analysts expect that Erie Indemnity will post 6.08 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Tuesday, July 9th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, July 8th. Erie Indemnity’s dividend payout ratio is currently 65.34%.

In related news, Director Elizabeth A. Vorsheck purchased 686 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average cost of $240.56 per share, for a total transaction of $165,024.16. Following the completion of the acquisition, the director now owns 69,516 shares in the company, valued at approximately $16,722,768.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 46.87% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of ERIE. BlackRock Inc. grew its stake in shares of Erie Indemnity by 4.9% in the 4th quarter. BlackRock Inc. now owns 1,002,319 shares of the financial services provider’s stock worth $133,620,000 after purchasing an additional 47,171 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Erie Indemnity by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 280,178 shares of the financial services provider’s stock worth $37,349,000 after acquiring an additional 12,976 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Erie Indemnity by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 255,118 shares of the financial services provider’s stock worth $34,008,000 after acquiring an additional 16,001 shares in the last quarter. AJO LP increased its position in shares of Erie Indemnity by 859.3% in the first quarter. AJO LP now owns 108,636 shares of the financial services provider’s stock worth $19,394,000 after acquiring an additional 97,311 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Erie Indemnity by 71.4% in the first quarter. Robeco Institutional Asset Management B.V. now owns 84,969 shares of the financial services provider’s stock worth $15,166,000 after acquiring an additional 35,404 shares in the last quarter. 31.97% of the stock is owned by institutional investors and hedge funds.

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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