Meeder Asset Management Inc. raised its position in shares of Erie Indemnity (NASDAQ:ERIE) by 2,390.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,163 shares of the financial services provider’s stock after purchasing an additional 3,036 shares during the period. Meeder Asset Management Inc.’s holdings in Erie Indemnity were worth $805,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ERIE. Dimensional Fund Advisors LP raised its position in shares of Erie Indemnity by 4.9% in the 4th 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 raised its position in shares of Erie Indemnity by 6.7% in the 4th 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. Robeco Institutional Asset Management B.V. raised its position in shares of Erie Indemnity by 109.7% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 178,140 shares of the financial services provider’s stock worth $45,296,000 after acquiring an additional 93,171 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Erie Indemnity in the 2nd quarter worth $30,135,000. Finally, AJO LP raised its position in shares of Erie Indemnity by 859.3% in the 1st 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. 33.97% of the stock is owned by institutional investors and hedge funds.
In other Erie Indemnity news, Director Elizabeth A. Vorsheck bought 686 shares of Erie Indemnity stock in a transaction that occurred on Tuesday, June 11th. The shares were bought at an average cost of $240.56 per share, with a total value of $165,024.16. Following the transaction, the director now directly owns 69,516 shares of the company’s stock, valued at approximately $16,722,768.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 46.87% of the company’s stock.
Shares of NASDAQ:ERIE opened at $221.18 on Thursday. The business’s 50-day moving average is $242.50 and its 200 day moving average is $206.15. Erie Indemnity has a 1 year low of $120.15 and a 1 year high of $270.23. The firm has a market capitalization of $10.32 billion, a P/E ratio of 40.14 and a beta of 0.47. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.12 and a quick ratio of 2.12.
Erie Indemnity (NASDAQ:ERIE) last announced its earnings results on Thursday, July 25th. The financial services provider reported $1.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.04. Erie Indemnity had a return on equity of 30.80% and a net margin of 12.58%. The company had revenue of $647.71 million for the quarter, compared to analyst estimates of $651.43 million. On average, analysts expect that Erie Indemnity will post 6.05 EPS for the current year.
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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