Mycio Wealth Partners LLC Continues to Hold Stake in Erie Indemnity Company (ERIE)
Mycio Wealth Partners LLC held its position in shares of Erie Indemnity Company (NASDAQ:ERIE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,439 shares of the financial services provider’s stock at the end of the second quarter. Erie Indemnity makes up approximately 0.9% of Mycio Wealth Partners LLC’s holdings, making the stock its 17th largest position. Mycio Wealth Partners LLC owned 0.11% of Erie Indemnity worth $7,293,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of ERIE. UBS Asset Management Americas Inc. increased its position in shares of Erie Indemnity by 15.7% in the first quarter. UBS Asset Management Americas Inc. now owns 11,499 shares of the financial services provider’s stock worth $1,411,000 after buying an additional 1,557 shares during the period. Swiss National Bank increased its position in shares of Erie Indemnity by 0.7% in the first quarter. Swiss National Bank now owns 42,009 shares of the financial services provider’s stock worth $5,155,000 after buying an additional 300 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Erie Indemnity by 28.2% in the first quarter. BNP Paribas Arbitrage SA now owns 4,607 shares of the financial services provider’s stock worth $565,000 after buying an additional 1,012 shares during the period. First Trust Advisors LP increased its position in shares of Erie Indemnity by 10.4% in the first quarter. First Trust Advisors LP now owns 145,764 shares of the financial services provider’s stock worth $17,885,000 after buying an additional 13,727 shares during the period. Finally, Chicago Equity Partners LLC increased its position in shares of Erie Indemnity by 13.3% in the first quarter. Chicago Equity Partners LLC now owns 3,750 shares of the financial services provider’s stock worth $460,000 after buying an additional 440 shares during the period. Institutional investors own 30.90% of the company’s stock.
Shares of Erie Indemnity Company (NASDAQ:ERIE) traded up 0.44% on Friday, reaching $120.92. 18,326 shares of the company were exchanged. The firm’s 50 day moving average price is $123.89 and its 200 day moving average price is $121.20. Erie Indemnity Company has a 52 week low of $96.01 and a 52 week high of $129.73. The stock has a market capitalization of $6.32 billion, a price-to-earnings ratio of 30.23 and a beta of 0.43.
Erie Indemnity (NASDAQ:ERIE) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by $0.09. Erie Indemnity had a net margin of 12.73% and a return on equity of 25.11%. The firm had revenue of $448.56 million during the quarter, compared to analysts’ expectations of $447.41 million. Equities research analysts anticipate that Erie Indemnity Company will post $3.90 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Thursday, October 5th will be given a $0.783 dividend. This represents a $3.13 dividend on an annualized basis and a yield of 2.59%. This is a positive change from Erie Indemnity’s previous quarterly dividend of $0.78. The ex-dividend date is Wednesday, October 4th. Erie Indemnity’s dividend payout ratio (DPR) is 78.45%.
A number of brokerages recently weighed in on ERIE. BidaskClub downgraded shares of Erie Indemnity from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded shares of Erie Indemnity from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd.
About Erie Indemnity
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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