Shares of Erie Indemnity (NASDAQ:ERIE) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.
Zacks has also given Erie Indemnity an industry rank of 96 out of 255 based on the ratings given to its competitors.
A number of equities analysts recently weighed in on the company. BidaskClub cut Erie Indemnity from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. ValuEngine raised Erie Indemnity from a “hold” rating to a “buy” rating in a report on Monday, February 4th.
Erie Indemnity (NASDAQ:ERIE) last released its quarterly earnings results on Thursday, February 21st. The financial services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.18. Erie Indemnity had a return on equity of 31.89% and a net margin of 12.10%. The firm had revenue of $576.47 million for the quarter. On average, equities research analysts expect that Erie Indemnity will post 6.08 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 23rd. Investors of record on Monday, April 8th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, April 5th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.03%. Erie Indemnity’s dividend payout ratio is 65.34%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Macquarie Group Ltd. purchased a new position in shares of Erie Indemnity during the 4th quarter valued at about $27,000. Capital Investment Advisory Services LLC purchased a new position in shares of Erie Indemnity during the 4th quarter valued at about $36,000. Citigroup Inc. raised its holdings in shares of Erie Indemnity by 19.2% during the 4th quarter. Citigroup Inc. now owns 964 shares of the financial services provider’s stock valued at $128,000 after buying an additional 155 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Erie Indemnity by 72.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,154 shares of the financial services provider’s stock valued at $147,000 after buying an additional 485 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Erie Indemnity during the 3rd quarter valued at about $172,000. 31.77% of the stock is currently owned by institutional investors.
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.
Featured Story: How to track put option volume
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Erie Indemnity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Erie Indemnity and related companies with MarketBeat.com's FREE daily email newsletter.