Press coverage about Erie Indemnity Company (NASDAQ:ERIE) has been trending positive on Tuesday, Alpha One reports. Alpha One, a subsidiary of Accern, identifies positive and negative press coverage by monitoring more than 20 million news and blog sources. Alpha One ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Erie Indemnity Company earned a news impact score of 0.25 on Alpha One’s scale. Alpha One also gave news stories about the financial services provider an impact score of 55 out of 100, indicating that recent press coverage is somewhat likely to have an effect on the company’s share price in the next few days.
Here are some of the news stories that may have effected AlphaOne 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)
- Erie Indemnity Company : Given Coverage Optimism Score of 0.24 (4-traders.com)
Shares of Erie Indemnity Company (ERIE) traded down 0.25% during mid-day trading on Tuesday, hitting $125.34. 6,972 shares of the stock traded hands. The stock has a market cap of $6.55 billion, a price-to-earnings ratio of 30.95 and a beta of 0.42. Erie Indemnity Company has a 12 month low of $95.18 and a 12 month high of $126.90. The firm has a 50 day moving average of $118.80 and a 200 day moving average of $117.31.
Erie Indemnity Company (NASDAQ:ERIE) last announced its earnings results on Monday, May 1st. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $399.32 million for the quarter, compared to analysts’ expectations of $394.47 million. Erie Indemnity Company had a return on equity of 25.80% and a net margin of 13.10%. During the same quarter last year, the business posted $0.87 earnings per share. On average, equities analysts expect that Erie Indemnity Company will post $4.05 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Stockholders of record on Thursday, July 6th will be given a dividend of $0.7825 per share. The ex-dividend date is Monday, July 3rd. This represents a $3.13 dividend on an annualized basis and a dividend yield of 2.49%. Erie Indemnity Company’s dividend payout ratio (DPR) is presently 77.48%.
Several research analysts have weighed in on ERIE shares. Zacks Investment Research upgraded shares of Erie Indemnity Company from a “hold” rating to a “strong-buy” rating and set a $137.00 price target on the stock in a research report on Tuesday, February 28th. BidaskClub upgraded shares of Erie Indemnity Company from a “hold” rating to a “buy” rating in a research report on Saturday.
In other Erie Indemnity Company news, CEO Timothy G. Necastro bought 430 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 11,644 shares in the company, valued at approximately $1,353,498.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 46.79% of the company’s stock.
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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