Stocks of Erie Indemnity Co. (NASDAQ:ERIE) traded higher last session on Wall Street, up 1.46% to $288.95.
According to the data, Erie Indemnity Co. (NASDAQ:ERIE) has 2 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. 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 $284.80, this indicates a potential downside of -59.62 percent. ERIE stock price is now -0.82% away from the 50-day moving average and 16.06% away from the 200-day moving average. The market capitalization of the company currently stands at $13.46B.
A total of 1 analysts have issued a hold rating and 1 have given it a buy rating. Brokers who have rated the stock have averaged $115.00 as their price target over the next twelve months.
In other news, Cipriani Marc, Senior Vice President sold 2,000 shares of the company’s stock on Aug 18. The stock was sold for $565,044 at an average price of $282.52. Upon completion of the transaction, the Senior Vice President now directly owns 15,997 shares in the company, valued at $4.62 million. Insiders disposed of 2,194 shares of company stock worth roughly $0.63 million over the past 1 year. A total of 46.01% of the company’s stock is owned by insiders.
Wednesday’s opening bell rang with an opening price of $285.37 for Erie Indemnity Co. (NASDAQ: ERIE). During the past 12 months, Erie Indemnity Co. has had a low of $199.49 and a high of $313.87. According to the stock market information, the enterprise value for the company is $14.97B, which is based on a 38.00 price-to-earnings ratio, a 3.80 price-to-earnings-growth ratio, and a beta of 0.39. The fifty day moving average price for ERIE is $291.35 and a two-hundred day moving average price translates $248.98 for the stock.
The latest earnings results from Erie Indemnity Co. (NASDAQ: ERIE) was released for Sep, 2023. The net profit margin was 12.77% and return on equity was 26.99% for ERIE.
Erie Indemnity Co.(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.
