Culbertson A N & Co. Inc. lowered its position in Erie Indemnity (NASDAQ:ERIE) by 1.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,640 shares of the financial services provider’s stock after selling 90 shares during the quarter. Culbertson A N & Co. Inc.’s holdings in Erie Indemnity were worth $1,185,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of ERIE. Fort Pitt Capital Group LLC purchased a new stake in shares of Erie Indemnity during the 4th quarter worth approximately $11,164,000. BlackRock Inc. grew its stake in shares of Erie Indemnity by 4.9% during the 4th quarter. BlackRock Inc. now owns 1,002,319 shares of the financial services provider’s stock worth $133,620,000 after purchasing an additional 47,171 shares during the period. Vanguard Group Inc grew its stake in shares of Erie Indemnity by 1.7% during the 3rd quarter. Vanguard Group Inc now owns 2,390,401 shares of the financial services provider’s stock worth $304,847,000 after purchasing an additional 40,987 shares during the period. Vanguard Group Inc. grew its stake in shares of Erie Indemnity by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 2,390,401 shares of the financial services provider’s stock worth $304,847,000 after purchasing an additional 40,987 shares during the period. Finally, Econ Financial Services Corp acquired a new position in shares of Erie Indemnity during the 4th quarter worth $3,231,000. Institutional investors own 31.77% of the company’s stock.
A number of equities analysts have recently weighed in on ERIE shares. BidaskClub cut shares of Erie Indemnity from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 13th. ValuEngine upgraded shares of Erie Indemnity from a “hold” rating to a “buy” rating in a research report on Monday, February 4th.
Erie Indemnity (NASDAQ:ERIE) last released its quarterly earnings data on Thursday, February 21st. The financial services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.01 by $0.18. The business had revenue of $576.47 million for the quarter. Erie Indemnity had a net margin of 12.10% and a return on equity of 31.89%. On average, research analysts expect that Erie Indemnity will post 6.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 23rd. Stockholders of record on Monday, April 8th will be issued a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, April 5th. This represents a $3.60 annualized dividend and a dividend yield of 2.03%. Erie Indemnity’s payout ratio is currently 65.34%.
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Erie Indemnity Profile
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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