Amalgamated Bank boosted its stake in shares of Erie Indemnity Company (NASDAQ:ERIE) by 28.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,552 shares of the financial services provider’s stock after buying an additional 1,006 shares during the quarter. Amalgamated Bank’s holdings in Erie Indemnity were worth $569,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Erie Indemnity by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 2,287,427 shares of the financial services provider’s stock valued at $280,667,000 after purchasing an additional 163,116 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Erie Indemnity by 3.1% in the 2nd quarter. BlackRock Inc. now owns 940,441 shares of the financial services provider’s stock worth $117,620,000 after buying an additional 28,266 shares during the period. State Street Corp lifted its holdings in shares of Erie Indemnity by 2.8% in the 1st quarter. State Street Corp now owns 344,605 shares of the financial services provider’s stock worth $42,284,000 after buying an additional 9,271 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Erie Indemnity by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 197,236 shares of the financial services provider’s stock worth $24,669,000 after buying an additional 4,984 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Erie Indemnity by 5.8% in the 1st quarter. Geode Capital Management LLC now owns 191,808 shares of the financial services provider’s stock worth $23,534,000 after buying an additional 10,491 shares during the period. Institutional investors own 30.97% of the company’s stock.

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A number of equities analysts have recently issued reports on the company. Zacks Investment Research raised Erie Indemnity from a “sell” rating to a “hold” rating in a research report on Tuesday. BidaskClub downgraded Erie Indemnity from a “buy” rating to a “hold” rating in a report on Monday, July 31st.

Erie Indemnity Company (NASDAQ ERIE) opened at 119.22 on Wednesday. The company has a market capitalization of $6.23 billion, a PE ratio of 29.81 and a beta of 0.47. Erie Indemnity Company has a one year low of $98.36 and a one year high of $129.73. The firm’s 50-day moving average is $120.02 and its 200 day moving average is $121.40.

Erie Indemnity (NASDAQ:ERIE) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.12 earnings per share (EPS) 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. On average, equities analysts expect that Erie Indemnity Company will post $3.95 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Thursday, October 5th will be given a dividend of $0.783 per share. This is a positive change from Erie Indemnity’s previous quarterly dividend of $0.78. This represents a $3.13 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Wednesday, October 4th. Erie Indemnity’s dividend payout ratio (DPR) is currently 78.45%.

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

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

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