Wedgewood Investors Inc. PA Sells 4 Shares of Erie Indemnity Company (ERIE)

Wedgewood Investors Inc. PA lowered its stake in Erie Indemnity Company (NASDAQ:ERIE) by 0.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 53,526 shares of the company’s stock after selling 4 shares during the period. Erie Indemnity Company accounts for 5.1% of Wedgewood Investors Inc. PA’s portfolio, making the stock its 2nd largest position. Wedgewood Investors Inc. PA owned 0.10% of Erie Indemnity Company worth $5,463,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Paradigm Asset Management Co. LLC boosted its position in shares of Erie Indemnity Company by 1.2% in the second quarter. Paradigm Asset Management Co. LLC now owns 6,779 shares of the company’s stock worth $673,000 after buying an additional 79 shares during the last quarter. Stifel Financial Corp boosted its position in shares of Erie Indemnity Company by 1.6% in the second quarter. Stifel Financial Corp now owns 9,013 shares of the company’s stock worth $895,000 after buying an additional 145 shares during the last quarter. HBK Sorce Advisory LLC boosted its position in shares of Erie Indemnity Company by 2.8% in the second quarter. HBK Sorce Advisory LLC now owns 11,162 shares of the company’s stock worth $1,109,000 after buying an additional 308 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Erie Indemnity Company by 5.6% in the second quarter. Victory Capital Management Inc. now owns 6,575 shares of the company’s stock worth $653,000 after buying an additional 348 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Erie Indemnity Company by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 3,577 shares of the company’s stock worth $355,000 after buying an additional 434 shares during the last quarter. Institutional investors and hedge funds own 30.70% of the company’s stock.

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

Shares of Erie Indemnity Company (NASDAQ:ERIE) traded down 0.28% on Wednesday, reaching $111.58. The company had a trading volume of 5,621 shares. Erie Indemnity Company has a 52-week low of $88.69 and a 52-week high of $116.21. The stock has a market capitalization of $5.83 billion, a PE ratio of 30.03 and a beta of 0.44. The company has a 50 day moving average price of $111.09 and a 200 day moving average price of $102.75.

Erie Indemnity Company (NASDAQ:ERIE) last posted its quarterly earnings results on Thursday, October 27th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.07. The company had revenue of $418.40 million for the quarter, compared to analysts’ expectations of $419.94 million. Erie Indemnity Company had a return on equity of 24.48% and a net margin of 12.38%. On average, equities research analysts anticipate that Erie Indemnity Company will post $3.95 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 20th. Shareholders of record on Thursday, January 5th will be issued a $0.7825 dividend. The ex-dividend date of this dividend is Tuesday, January 3rd. This represents a $3.13 annualized dividend and a dividend yield of 2.80%. This is a boost from Erie Indemnity Company’s previous quarterly dividend of $0.73. Erie Indemnity Company’s dividend payout ratio is currently 84.59%.

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Separately, Zacks Investment Research cut Erie Indemnity Company from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 4th.

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 primary function is to perform certain services for the Exchange relating to the sales, underwriting and issuance of policies on behalf of the Exchange.

5 Day Chart for NASDAQ:ERIE

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