Institutional Investors Love Erie Indemnity Co (NASDAQ:ERIE)

April 17, 2018 - By Christine McCrea

Erie Indemnity Company (NASDAQ:ERIE) Logo

Sentiment for Erie Indemnity Co (NASDAQ:ERIE)

Erie Indemnity Co (NASDAQ:ERIE) institutional sentiment increased to 1.71 in 2017 Q4. Its up 0.57, from 1.14 in 2017Q3. The ratio is more positive, as 65 investment professionals increased and started new equity positions, while 38 sold and reduced their stakes in Erie Indemnity Co. The investment professionals in our partner’s database reported: 14.27 million shares, up from 14.23 million shares in 2017Q3. Also, the number of investment professionals holding Erie Indemnity Co in their top 10 equity positions increased from 2 to 3 for an increase of 1. Sold All: 5 Reduced: 33 Increased: 44 New Position: 21.

Erie Indemnity Company operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States. The company has market cap of $6.19 billion. The firm provides sales, underwriting, and policy issuance services for the policyholders on behalf of the Erie Insurance Exchange. It has a 31.5 P/E ratio. The Company’s 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.

The stock increased 0.49% or $0.58 during the last trading session, reaching $118.45. About 2,377 shares traded. Erie Indemnity Company (NASDAQ:ERIE) has declined 6.61% since April 17, 2017 and is downtrending. It has underperformed by 18.16% the S&P500.

Analysts await Erie Indemnity Company (NASDAQ:ERIE) to report earnings on May, 7. They expect $1.14 earnings per share, up 25.27 % or $0.23 from last year’s $0.91 per share. ERIE’s profit will be $59.61M for 25.98 P/E if the $1.14 EPS becomes a reality. After $0.80 actual earnings per share reported by Erie Indemnity Company for the previous quarter, Wall Street now forecasts 42.50 % EPS growth.

Wedgewood Investors Inc Pa holds 5.27% of its portfolio in Erie Indemnity Company for 53,203 shares. Union Bankshares Corp owns 131,900 shares or 4.97% of their US portfolio. Moreover, Columbia Asset Management has 2.24% invested in the company for 64,086 shares. The California-based Messner & Smith Theme Value Investment Management Ltd Ca has invested 1.85% in the stock. Old Republic International Corp, a Illinois-based fund reported 222,600 shares.#img1#

Since January 1, 0001, it had 6 insider buys, and 0 insider sales for $251,244 activity.

Erie Indemnity Company (NASDAQ:ERIE) Institutional Positions Chart

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