Erie Indemnity Co. (NASDAQ: ERIE) is 51.75% higher on its value in year-to-date trading and has touched a low of $270.36 and a high of $503.82 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ERIE stock was last observed hovering at around $499.98 in the last trading session, with the day’s gains setting it 8.25%.
Currently trading at $508.23, the stock is 9.00% and 22.54% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.14 million and changing 1.65% at the moment leaves the stock 36.02% off its SMA200. ERIE registered 81.08% gain for a year compared to 6-month gain of 25.71%.
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The stock witnessed a 15.58% loss in the last 1 month and extending the period to 3 months gives it a 40.23%, and is 3.88% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.27% over the week and 2.14% over the month.
Erie Indemnity Co. (ERIE) has around 6556 employees, a market worth around $23.67B and $3.54B in sales. Current P/E ratio is 50.48 and Fwd P/E is 35.54. Profit margin for the company is 14.97%. Distance from 52-week low is 87.98% and 0.88% from its 52-week high. The company has generated returns on investments over the last 12 months (29.00%).
The EPS is expected to grow by 33.76% this year.
Erie Indemnity Co. (ERIE) Top Institutional Holders
468.0 institutions hold shares in Erie Indemnity Co. (ERIE), with institutional investors hold 67.68% of the company’s shares. The shares outstanding are 46.19M, and float is at 25.16M with Short Float at 2.96%. Institutions hold 36.88% of the Float.
The top institutional shareholder in the company is PNC FINANCIAL SERVICES GROUP, INC. with over 4.91 million shares valued at $1.78 billion. The investor’s holdings represent 10.546% of the ERIE Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 2.47 million shares valued at $$894.25 million to account for 5.2986 of the shares outstanding. The other top investors are BLACKROCK INC. which holds 2.43 million shares representing 5.2166% and valued at over $880.41 million, while STATE STREET CORP holds 2.2406 of the shares totaling 1.04 million with a market value of $378.14 million.
Erie Indemnity Co. (ERIE) Insider Activity
The most recent transaction is an insider sale by HARTZ CHARLES SCOTT,the company’sDirector. SEC filings show that HARTZ CHARLES SCOTT sold 500 shares of the company’s common stock on Aug 27 ’24 at a price of $485.83 per share for a total of $0.24 million. Following the sale, the insider now owns 1097.0 shares.
Still, SEC filings show that on Aug 13 ’24, HARTZ CHARLES SCOTT (Director) disposed off 500 shares at an average price of $453.26 for $0.23 million. The insider now directly holds 1,597 shares of Erie Indemnity Co. (ERIE).
