Erie Indemnity Stock Price, News & Analysis (NASDAQ:ERIE)

Erie Indemnity's stock was trading at $248.72 at the beginning of the year. Since then, ERIE shares have increased by 15.7% and is now trading at $287.79.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, March 6th 2024.
View our ERIE earnings forecast.

Erie Indemnity (NASDAQ:ERIE) announced its earnings results on Thursday, October, 26th. The financial services provider reported $2.51 earnings per share for the quarter, topping analysts' consensus estimates of $2.06 by $0.45. The financial services provider earned $858.94 million during the quarter, compared to analysts' expectations of $830.02 million. Erie Indemnity had a net margin of 12.71% and a trailing twelve-month return on equity of 26.30%. During the same quarter last year, the company earned $1.61 EPS.

Erie Indemnity declared a quarterly dividend on Tuesday, July 25th. Stockholders of record on Thursday, October 5th will be given a dividend of $1.19 per share on Friday, October 20th. This represents a $4.76 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Wednesday, October 4th.
Read our dividend analysis for ERIE.

Erie Indemnity (NASDAQ:ERIE) pays an annual dividend of $4.76 per share and currently has a dividend yield of 1.63%. The company has been increasing its dividend for 33 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 62.14%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, ERIE will have a dividend payout ratio of 48.32% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for ERIE.

ETFs with the largest weight of Erie Indemnity (NASDAQ:ERIE) stock in their portfolio include Formidable Fortress ETF (KONG), SPDR S&P Insurance ETF (KIE), ALPS O'Shares U.S. Small-Cap Quality Dividend ETF (OUSM), iShares U.S. Insurance ETF (IAK), Fidelity Low Volatility Factor ETF (FDLO), First Trust Value Line Dividend Index Fund (FVD), SEI Enhanced U.S. Large Cap Momentum Factor ETF (SEIM) and iShares S&P Mid-Cap 400 Growth ETF (IJK).

88 employees have rated Erie Indemnity Chief Executive Officer Timothy G. NeCastro on Glassdoor.com. Timothy G. NeCastro has an approval rating of 96% among the company's employees. This puts Timothy G. NeCastro in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Erie Indemnity investors own include Cummins (CMI), Amgen (AMGN), Mallinckrodt (MNK), Walmart (WMT), Boeing (BA), Cisco Systems (CSCO), Union Pacific (UNP), AbbVie (ABBV) and Skyworks Solutions (SWKS).

Erie Indemnity's stock is owned by a variety of institutional and retail investors. Top institutional investors include PNC Financial Services Group Inc. (9.39%), Bank of New York Mellon Corp (0.47%), Northern Trust Corp (0.35%), Morgan Stanley (0.31%), Charles Schwab Investment Management Inc. (0.25%) and Legal & General Group Plc (0.23%). Insiders that own company stock include Marc Cipriani and Thomas B Hagen.
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Shares of ERIE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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