Los Angeles Capital Management & Equity Research Inc. maintained its position in Erie Indemnity Company (NASDAQ:ERIE) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,103 shares of the financial services provider’s stock at the close of the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. owned 0.24% of Erie Indemnity worth $15,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Erie Indemnity by 28.2% during the first quarter. JPMorgan Chase & Co. now owns 1,092 shares of the financial services provider’s stock valued at $134,000 after purchasing an additional 240 shares during the period. NN Investment Partners Holdings N.V. purchased a new stake in shares of Erie Indemnity during the second quarter valued at approximately $183,000. SG Americas Securities LLC purchased a new stake in shares of Erie Indemnity during the first quarter valued at approximately $181,000. Atria Investments LLC purchased a new stake in shares of Erie Indemnity during the second quarter valued at approximately $204,000. Finally, Keybank National Association OH purchased a new stake in shares of Erie Indemnity during the first quarter valued at approximately $202,000. 30.97% of the stock is owned by hedge funds and other institutional investors.
Shares of Erie Indemnity Company (ERIE) opened at 118.64 on Friday. Erie Indemnity Company has a 52 week low of $98.36 and a 52 week high of $129.73. The company has a 50-day moving average price of $121.81 and a 200-day moving average price of $121.58. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 29.66 and a beta of 0.47.
Erie Indemnity (NASDAQ:ERIE) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.12 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.21 by ($0.09). The business had revenue of $448.56 million during the quarter, compared to the consensus estimate of $447.41 million. Erie Indemnity had a net margin of 12.73% and a return on equity of 25.11%. Equities analysts anticipate that Erie Indemnity Company will post $3.90 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Thursday, October 5th will be given a $0.783 dividend. This represents a $3.13 annualized dividend and a yield of 2.64%. The ex-dividend date is Wednesday, October 4th. This is an increase from Erie Indemnity’s previous quarterly dividend of $0.78. Erie Indemnity’s dividend payout ratio is 78.45%.
A number of analysts recently commented on ERIE shares. Zacks Investment Research lowered Erie Indemnity from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. BidaskClub raised Erie Indemnity from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th.
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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