Victory Capital Management Inc. reduced its position in shares of Erie Indemnity Company (NASDAQ:ERIE) by 22.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,318 shares of the financial services provider’s stock after selling 5,122 shares during the period. Victory Capital Management Inc.’s holdings in Erie Indemnity were worth $2,088,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Erie Indemnity by 11,772.6% in the first quarter. BlackRock Inc. now owns 912,175 shares of the financial services provider’s stock worth $111,923,000 after purchasing an additional 904,492 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of Erie Indemnity in the second quarter worth about $10,932,000. Vanguard Group Inc. increased its stake in shares of Erie Indemnity by 1.3% in the second quarter. Vanguard Group Inc. now owns 2,316,616 shares of the financial services provider’s stock worth $289,739,000 after purchasing an additional 29,189 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Erie Indemnity by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 4,917,607 shares of the financial services provider’s stock worth $615,044,000 after purchasing an additional 24,203 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Erie Indemnity by 22.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 124,320 shares of the financial services provider’s stock worth $15,549,000 after purchasing an additional 22,950 shares in the last quarter. 30.80% of the stock is currently owned by institutional investors.

Several equities analysts have recently weighed in on ERIE shares. BidaskClub downgraded shares of Erie Indemnity from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research cut shares of Erie Indemnity from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd.

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Erie Indemnity Company (ERIE) opened at $122.75 on Monday. The company has a market cap of $5,669.71, a P/E ratio of 30.53 and a beta of 0.45. Erie Indemnity Company has a 12 month low of $105.38 and a 12 month high of $129.73. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.92 and a current ratio of 1.92.

Erie Indemnity (NASDAQ:ERIE) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.11 by $0.01. Erie Indemnity had a net margin of 12.62% and a return on equity of 24.98%. The company had revenue of $442.49 million during the quarter, compared to analysts’ expectations of $437.72 million. equities analysts forecast that Erie Indemnity Company will post 3.9 EPS for the current year.

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

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