Erie Indemnity Company (ERIE) Position Lessened by Royce & Associates LP

Royce & Associates LP lessened its holdings in Erie Indemnity Company (NASDAQ:ERIE) by 3.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 365,717 shares of the financial services provider’s stock after selling 14,383 shares during the period. Royce & Associates LP owned 0.79% of Erie Indemnity worth $44,094,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Teacher Retirement System of Texas raised its position in Erie Indemnity by 1.1% during the second quarter. Teacher Retirement System of Texas now owns 2,023 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 22 shares in the last quarter. State of Wisconsin Investment Board raised its position in Erie Indemnity by 1.0% during the second quarter. State of Wisconsin Investment Board now owns 4,947 shares of the financial services provider’s stock valued at $619,000 after purchasing an additional 50 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Erie Indemnity by 7.1% during the second quarter. The Manufacturers Life Insurance Company now owns 1,369 shares of the financial services provider’s stock valued at $171,000 after purchasing an additional 91 shares in the last quarter. Utah Retirement Systems raised its position in Erie Indemnity by 2.3% during the second quarter. Utah Retirement Systems now owns 4,534 shares of the financial services provider’s stock valued at $567,000 after purchasing an additional 100 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in Erie Indemnity by 1.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 10,715 shares of the financial services provider’s stock valued at $1,340,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 30.91% of the company’s stock.

A number of research firms have weighed in on ERIE. Zacks Investment Research upgraded Erie Indemnity from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. BidaskClub downgraded Erie Indemnity from a “hold” rating to a “sell” rating in a research report on Friday, August 25th.

Shares of Erie Indemnity Company (ERIE) opened at $121.13 on Thursday. Erie Indemnity Company has a 12-month low of $106.91 and a 12-month high of $129.73. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market capitalization of $5,584.26, a PE ratio of 30.08 and a beta of 0.47.

Erie Indemnity (NASDAQ:ERIE) last released its quarterly earnings results on Thursday, October 26th. The financial services provider reported $1.12 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.01. Erie Indemnity had a return on equity of 24.98% and a net margin of 12.62%. The business had revenue of $442.49 million for the quarter, compared to the consensus estimate of $437.72 million. equities research analysts forecast that Erie Indemnity Company will post 3.9 EPS for the current fiscal year.

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Erie Indemnity Profile

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

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