News stories about Erie Indemnity Company (NASDAQ:ERIE) have been trending somewhat positive recently, according to Alpha One Sentiment Analysis. The research group, a division of Accern, identifies positive and negative press coverage by reviewing more than twenty million news and blog sources in real time. Alpha One ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Erie Indemnity Company earned a coverage optimism score of 0.08 on Alpha One’s scale. Alpha One also assigned news coverage about the financial services provider an impact score of 81 out of 100, meaning that recent press coverage is very likely to have an impact on the stock’s share price in the next few days.
Here are some of the news articles that may have effected AlphaOne Sentiment’s analysis:
- President & CEO of Erie Indemnityny (NASDAQ:ERIE), Necastro Timothy G, buys 430 shares worth $49,983 (empowerednews.net)
- Form 4 ERIE INDEMNITY CO For: May 15 Filed by: NECASTRO TIMOTHY G (streetinsider.com)
- Can Erie Indemnity Company’s (ERIE) ROE Continue To Surpass The Industry Average? (simplywall.st)
- Erie Indemnity Co. :ERIE-US: Earnings Analysis: Q1, 2017 By the Numbers : May 17, 2017 (finance.yahoo.com)
- Erie Indemnity Company (ERIE) CEO Buys $49,983.20 in Stock (americanbankingnews.com)
Shares of Erie Indemnity Company (NASDAQ:ERIE) opened at 117.21 on Wednesday. The stock has a market cap of $6.13 billion, a PE ratio of 28.94 and a beta of 0.46. Erie Indemnity Company has a 52-week low of $93.49 and a 52-week high of $125.88. The company’s 50-day moving average price is $119.86 and its 200-day moving average price is $115.41.
Erie Indemnity Company (NASDAQ:ERIE) last issued its quarterly earnings data on Monday, May 1st. The financial services provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by $0.04. Erie Indemnity Company had a return on equity of 24.48% and a net margin of 12.38%. The company had revenue of $399.32 million for the quarter, compared to the consensus estimate of $394.47 million. During the same period in the prior year, the company earned $0.87 EPS. On average, equities research analysts forecast that Erie Indemnity Company will post $4.10 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 20th. Shareholders of record on Thursday, July 6th will be issued a dividend of $0.7825 per share. This represents a $3.13 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Monday, July 3rd. Erie Indemnity Company’s dividend payout ratio is currently 84.59%.
Separately, Zacks Investment Research cut Erie Indemnity Company from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 1st.
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In other Erie Indemnity Company news, Director Robert C. Wilburn sold 2,700 shares of the stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $120.16, for a total transaction of $324,432.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Timothy G. Necastro bought 430 shares of Erie Indemnity Company stock in a transaction dated Monday, May 15th. The stock was acquired at an average cost of $116.24 per share, for a total transaction of $49,983.20. Following the purchase, the chief executive officer now directly owns 11,644 shares in the company, valued at approximately $1,353,498.56. The disclosure for this purchase can be found here. 47.46% of the stock is owned by corporate insiders.
Erie Indemnity Company Company 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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