Erie Indemnity Company (ERIE) Earning Somewhat Positive Media Coverage, Analysis Shows
Media stories about Erie Indemnity Company (NASDAQ:ERIE) have been trending somewhat positive recently, according to Accern. The research firm identifies negative and positive media coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Erie Indemnity Company earned a news impact score of 0.17 on Accern’s scale. Accern also assigned news headlines about the financial services provider an impact score of 53 out of 100, indicating that recent media coverage is somewhat likely to have an impact on the stock’s share price in the next few days.
Here are some of the headlines that may have effected Accern Sentiment’s rankings:
- Erie Indemnity Company (ERIE) Saw a 52-Week High (highlightpress.com)
- Erie Indemnity Company (ERIE) Upgraded to “Buy” by BidaskClub (americanbankingnews.com)
- Erie Indemnity Company (ERIE) Reaches New 52-Week High (highlightpress.com)
- Analysts Expect Erie Indemnity Company (ERIE) to Announce $1.21 Earnings Per Share (americanbankingnews.com)
A number of equities analysts recently weighed in on the stock. BidaskClub upgraded shares of Erie Indemnity Company from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Zacks Investment Research downgraded shares of Erie Indemnity Company from a “strong-buy” rating to a “hold” rating in a report on Monday, May 1st.
Shares of Erie Indemnity Company (NASDAQ:ERIE) traded up 0.98% during trading on Friday, reaching $124.22. 116,316 shares of the company were exchanged. The company has a market capitalization of $6.50 billion, a PE ratio of 30.67 and a beta of 0.42. The firm’s 50 day moving average price is $118.81 and its 200 day moving average price is $117.43. Erie Indemnity Company has a one year low of $95.18 and a one year high of $126.90.
Erie Indemnity Company (NASDAQ:ERIE) last issued its quarterly earnings data on Monday, May 1st. The financial services provider reported $0.91 earnings per share for the quarter, missing the consensus estimate of $0.95 by $0.04. Erie Indemnity Company had a net margin of 13.10% and a return on equity of 25.80%. The company had revenue of $399.32 million for the quarter, compared to the consensus estimate of $394.47 million. During the same quarter last year, the business posted $0.87 earnings per share. Equities research analysts forecast that Erie Indemnity Company will post $4.05 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 paid a dividend of $0.7825 per share. This represents a $3.13 annualized dividend and a yield of 2.52%. The ex-dividend date is Monday, July 3rd. Erie Indemnity Company’s dividend payout ratio (DPR) is presently 77.48%.
In related news, CEO Timothy G. Necastro acquired 430 shares of the company’s stock in a transaction on Monday, May 15th. The shares were 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 owns 11,644 shares in the company, valued at $1,353,498.56. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 46.79% of the stock is currently owned by company insiders.
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About Erie Indemnity Company
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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