In yesterday’s Wall Street session, Erie Indemnity Company (NASDAQ:ERIE) shares traded at $258.00, up 2.11% from the previous session.
As we calculate the median target price by taking the range between a high of $115.00 and a low of $115.00, we find $115.00. Given the previous closing price of $252.67, this indicates a potential downside of -54.49 percent. ERIE stock price is now 9.84% away from the 50-day moving average and 30.90% away from the 200-day moving average. The market capitalization of the company currently stands at $12.80B.
Brokers who have rated the stock have averaged $115.00 as their price target over the next twelve months.
On October 10, 2008, Stifel Nicolaus Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock keeping its target price maintained at $45.
In other news, Cipriani Marc, Senior Vice President sold 750 shares of the company’s stock on Nov 11. The stock was sold for $189,536 at an average price of $252.72. Upon completion of the transaction, the Senior Vice President now directly owns 17,997 shares in the company, valued at $4.64 million. A total of 0.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ERIE stock. A new stake in Erie Indemnity Company shares was purchased by GRANTHAM, MAYO, VAN OTTERLOO & CO. LLC during the first quarter worth $5,060,000. JUPITER ASSET MANAGEMENT LTD invested $4,899,000 in shares of ERIE during the first quarter. In the first quarter, GREAT WEST LIFE ASSURANCE CO /CAN/ acquired a new stake in Erie Indemnity Company valued at approximately $4,649,000. INTECH INVESTMENT MANAGEMENT LLC acquired a new stake in ERIE for approximately $3,227,000. AMALGAMATED FINANCIAL CORP. purchased a new stake in ERIE valued at around $1,572,000 in the second quarter. In total, there are 390 active investors with 36.40% ownership of the company’s stock.
On Monday morning Erie Indemnity Company (NASDAQ: ERIE) stock kicked off with the opening price of $253.31. During the past 12 months, Erie Indemnity Company has had a low of $158.46 and a high of $273.20. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.10, and a quick ratio of 1.10. The fifty day moving average price for ERIE is $234.88 and a two-hundred day moving average price translates $197.10 for the stock.
The latest earnings results from Erie Indemnity Company (NASDAQ: ERIE) was released for Jun, 2022. The net profit margin was 10.40% and return on equity was 21.50% for ERIE. For the current quarter, analysts expect ERIE to generate $664.65M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/20/2022. Investors who held shares on 10/05/2022 were paid a $1.11 dividend. On an annualized basis, this represents a $4.44 dividend and a 1.72% percent yield. There was an ex-dividend date of 10/04/2022 for this dividend. In terms of dividend payout ratio, ERIE is presently at 79.20%.
Erie Indemnity Company(ERIE) Company Profile
Erie Indemnity Company operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States. The company provides sales, underwriting, policy issuance, and renewal services for the policyholders on behalf of the Erie Insurance Exchange. It also offers sales related services, including agent compensation, and sales and advertising support services; and underwriting services comprise underwriting and policy processing; and other services consist of customer services and administrative support services, as well as information technology services. Erie Indemnity Company was incorporated in 1925 and is based in Erie, Pennsylvania.