Erie Indemnity (ERIE) Stock Price, News & Analysis

Company Overview

Erie Indemnity Company operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States. It provides issuance and renewal services; sales related services, including agent compensation, and sales and advertising support services; underwriting services comprise underwriting and policy processing; and other services consist of customer services and administrative support services, as well as information technology services. The company was incorporated in 1925 and is based in Erie, Pennsylvania.

Key Stats

• Today's Range: $402.95 to $413.91
• 50-Day Range: $402.50 to $544.84
• 52-Week Range: $277.18 to $547.00
• Volume: 207,495 shs
• Average Volume: 123,990 shs
• Market Capitalization: $18.71 billion
• P/E Ratio: 37.89
• Dividend Yield: 1.26%
• Price Target: N/A
• Consensus Rating: N/A

Erie Indemnity Stock Analysis - MarketRank™

Erie Indemnity scored higher than 69% of companies evaluated by MarketBeat, and ranked 342nd out of 958 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: N/A
• Analyst Rating: N/A

Consensus Rating

There is not enough analysis data for Erie Indemnity.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 25.55%

Earnings Growth

Earnings for Erie Indemnity are expected to grow by 25.55% in the coming year, from $11.39 to $14.30 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Erie Indemnity is 37.89, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 127.22.

Price to Earnings Ratio vs. Sector

The P/E ratio of Erie Indemnity is 37.89, which means that it is trading at a more expensive P/E ratio than the Finance sector average P/E ratio of about 33.77.

Price to Book Value per Share Ratio

Erie Indemnity has a P/B Ratio of 9.60. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 3.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

3.18% of the float of Erie Indemnity has been sold short.

Short Interest Ratio / Days to Cover

Erie Indemnity has a short interest ratio ("days to cover") of 3.8, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Erie Indemnity has recently increased by 16.20%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 4.2 / 5
• Dividend Strength: Strong

Dividend Yield

Erie Indemnity pays a meaningful dividend of 1.24%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

Erie Indemnity has been increasing its dividend for 35 years.

Dividend Coverage

The dividend payout ratio of Erie Indemnity is 47.71%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, Erie Indemnity will have a dividend payout ratio of 35.66% next year. This indicates that Erie Indemnity will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 0.0 / 5
• Environmental Score: -0.90

Percentage of Shares Shorted

3.18% of the float of Erie Indemnity has been sold short.

Short Interest Ratio / Days to Cover

Erie Indemnity has a short interest ratio ("days to cover") of 3.8, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Erie Indemnity has recently increased by 16.20%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 2.4 / 5
• News Sentiment: 0.32

News Sentiment

Erie Indemnity has a news sentiment score of 0.32. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.64 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 3 news articles for Erie Indemnity this week, compared to 2 articles on an average week.

Search Interest

7 people have searched for ERIE on MarketBeat in the last 30 days. This is an increase of 133% compared to the previous 30 days.

MarketBeat Follows

Only 1 people have added Erie Indemnity to their MarketBeat watchlist in the last 30 days. This is a decrease of -75% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, Erie Indemnity insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $242,915.00 in company stock.

Percentage Held by Insiders

45.79% of the stock of Erie Indemnity is held by insiders. A high percentage of insider ownership can be a sign of company health.

Percentage Held by Institutions

Only 33.67% of the stock of Erie Indemnity is held by institutions.

ERIE Stock Analysis - Frequently Asked Questions

How have ERIE shares performed this year?

Erie Indemnity's stock was trading at $334.92 at the beginning of 2024. Since then, ERIE shares have increased by 20.9% and is now trading at $405.00.
View the best growth stocks for 2024 here.

How were Erie Indemnity's earnings last quarter?

Erie Indemnity (NASDAQ:ERIE) released its quarterly earnings results on Thursday, October, 31st. The financial services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.07. The financial services provider had revenue of $999.89 million for the quarter, compared to the consensus estimate of $985.10 million. Erie Indemnity had a net margin of 15.16% and a trailing twelve-month return on equity of 31.22%.

Who are Erie Indemnity's major shareholders?

Erie Indemnity's top institutional shareholders include PNC Financial Services Group Inc. (10.63%), State Street Corp (2.98%), Mizuho Securities USA LLC (1.10%) and International Assets Investment Management LLC (0.59%). Insiders that own company stock include Marc Cipriani, J Ralph Borneman Jr and Charles Scott Hartz.
View institutional ownership trends.

How do I buy shares of Erie Indemnity?

Shares of ERIE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Erie Indemnity own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Erie Indemnity investors own include Broadcom (AVGO), NVIDIA (NVDA), Adobe (ADBE), Arista Networks (ANET), Meta Platforms (META), General Electric (GE) and e.l.f. Beauty (ELF).

Company Calendar

• Ex-Dividend for 10/22 Dividend: 10/07/2024
• Dividend Payable: 10/22/2024
• Last Earnings: 10/31/2024
• Today: 11/16/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 2/24/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: Insurance agents, brokers, & service
• Sub-Industry: Property & Casualty Insurance
• Current Symbol: NASDAQ:ERIE
• CUSIP: 29530P10
• CIK: 922621
• Web: www.erieinsurance.com
• Phone: (814) 870-2000
• Fax: 814-870-4040
• Employees: 6,556
• Year Founded: 1925

Profitability

• EPS (Most Recent Fiscal Year): $10.69
• Trailing P/E Ratio: 37.89
• Forward P/E Ratio: 35.56
• P/E Growth: N/A
• Net Income: $446.06 million
• Net Margins: 15.16%
• Pretax Margin: 19.12%
• Return on Equity: 31.22%
• Return on Assets: 21.14%

Debt

• Debt-to-Equity Ratio: N/A
• Current Ratio: 1.56
• Quick Ratio: 1.56

Sales & Book Value

• Annual Sales: $3.82 billion
• Price / Sales: 4.90
• Cash Flow: $7.41 per share
• Price / Cash Flow: 54.66
• Book Value: $42.17 per share
• Price / Book: 9.60

Miscellaneous

• Outstanding Shares: 46,192,000
• Free Float: 25,041,000
• Market Cap: $18.71 billion
• Optionable: Optionable
• Beta: 0.46