Toronto Dominion Bank Buys Shares of 3,877 Erie Indemnity (NASDAQ:ERIE)

Toronto Dominion Bank bought a new stake in Erie Indemnity (NASDAQ:ERIE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,877 shares of the financial services provider’s stock, valued at approximately $986,000.

A number of other institutional investors have also recently bought and sold shares of the business. Krane Funds Advisors LLC acquired a new stake in Erie Indemnity in the 2nd quarter worth about $26,000. Signaturefd LLC boosted its stake in Erie Indemnity by 58.4% in the 1st quarter. Signaturefd LLC now owns 179 shares of the financial services provider’s stock worth $32,000 after buying an additional 66 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Erie Indemnity in the 2nd quarter worth about $76,000. NEXT Financial Group Inc acquired a new stake in Erie Indemnity in the 2nd quarter worth about $172,000. Finally, Achmea Investment Management B.V. acquired a new stake in Erie Indemnity in the 2nd quarter worth about $181,000. 34.74% of the stock is currently owned by institutional investors.

A number of analysts have issued reports on ERIE shares. Zacks Investment Research lowered Erie Indemnity from a “hold” rating to a “sell” rating in a research note on Monday, August 19th. BidaskClub lowered Erie Indemnity from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, ValuEngine lowered Erie Indemnity from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st.

Shares of Erie Indemnity stock traded down $3.21 during trading hours on Thursday, reaching $202.34. The stock had a trading volume of 8,993 shares, compared to its average volume of 132,293. The firm has a 50 day simple moving average of $216.98 and a two-hundred day simple moving average of $212.65. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of 36.70 and a beta of 0.48. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.09. Erie Indemnity has a 1 year low of $120.15 and a 1 year high of $270.23.

Erie Indemnity (NASDAQ:ERIE) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.04. The company had revenue of $647.71 million for the quarter, compared to the consensus estimate of $651.43 million. Erie Indemnity had a return on equity of 30.80% and a net margin of 12.58%. Sell-side analysts forecast that Erie Indemnity will post 6.05 EPS for the current year.

In other news, Director J Ralph Borneman, Jr. sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $210.00, for a total value of $4,200,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 46.87% of the company’s stock.

About Erie Indemnity

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

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