Culbertson A N & Co. Inc. continued to hold its stake in Erie Indemnity Company (NASDAQ:ERIE) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,200 shares of the financial services provider’s stock at the end of the first quarter. Culbertson A N & Co. Inc.’s holdings in Erie Indemnity Company were worth $761,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of ERIE. Russell Investments Group Ltd. purchased a new stake in Erie Indemnity Company during the fourth quarter valued at about $5,629,000. Emerald Acquisition Ltd. increased its stake in Erie Indemnity Company by 208.6% in the third quarter. Emerald Acquisition Ltd. now owns 42,917 shares of the financial services provider’s stock valued at $4,380,000 after buying an additional 29,009 shares in the last quarter. Renaissance Technologies LLC increased its stake in Erie Indemnity Company by 31.2% in the fourth quarter. Renaissance Technologies LLC now owns 116,212 shares of the financial services provider’s stock valued at $13,068,000 after buying an additional 27,641 shares in the last quarter. Teachers Advisors LLC increased its stake in Erie Indemnity Company by 62.8% in the fourth quarter. Teachers Advisors LLC now owns 43,158 shares of the financial services provider’s stock valued at $4,853,000 after buying an additional 16,654 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in Erie Indemnity Company during the fourth quarter valued at about $1,051,000. Hedge funds and other institutional investors own 30.73% of the company’s stock.
Shares of Erie Indemnity Company (NASDAQ:ERIE) traded up 0.20% during midday trading on Friday, reaching $123.08. The company’s stock had a trading volume of 21,998 shares. The firm’s 50 day moving average is $121.69 and its 200 day moving average is $112.34. Erie Indemnity Company has a 52 week low of $90.28 and a 52 week high of $125.40. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 30.69 and a beta of 0.46.
Erie Indemnity Company (NASDAQ:ERIE) last announced its quarterly earnings data on Thursday, February 23rd. The financial services provider reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.06. The firm earned $379.61 million during the quarter, compared to analyst estimates of $376.71 million. Erie Indemnity Company had a return on equity of 24.48% and a net margin of 12.38%. Equities analysts forecast that Erie Indemnity Company will post $4.11 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 20th. Investors of record on Wednesday, April 5th were issued a $0.7825 dividend. This represents a $3.13 annualized dividend and a yield of 2.54%. The ex-dividend date was Monday, April 3rd. Erie Indemnity Company’s dividend payout ratio is currently 84.59%.
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Separately, Zacks Investment Research upgraded Erie Indemnity Company from a “hold” rating to a “strong-buy” rating and set a $137.00 price target on the stock in a report on Tuesday, February 28th.
In related news, Director Robert C. Wilburn sold 2,700 shares of the business’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $120.16, for a total value of $324,432.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 47.46% of the stock is owned by insiders.
About Erie Indemnity Company
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.
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