Creative Planning decreased its position in Erie Indemnity (NASDAQ:ERIE) by 1.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,891 shares of the financial services provider’s stock after selling 93 shares during the period. Creative Planning’s holdings in Erie Indemnity were worth $785,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the business. State of Alaska Department of Revenue raised its stake in shares of Erie Indemnity by 75.0% in the third quarter. State of Alaska Department of Revenue now owns 5,251 shares of the financial services provider’s stock worth $668,000 after buying an additional 2,251 shares during the period. Aperio Group LLC raised its stake in shares of Erie Indemnity by 10.7% in the third quarter. Aperio Group LLC now owns 18,533 shares of the financial services provider’s stock worth $2,364,000 after buying an additional 1,798 shares during the period. First Trust Advisors LP raised its stake in shares of Erie Indemnity by 13.1% in the third quarter. First Trust Advisors LP now owns 201,253 shares of the financial services provider’s stock worth $25,666,000 after buying an additional 23,255 shares during the period. Victory Capital Management Inc. raised its stake in shares of Erie Indemnity by 37.7% in the third quarter. Victory Capital Management Inc. now owns 141,989 shares of the financial services provider’s stock worth $18,108,000 after buying an additional 38,849 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Erie Indemnity by 16.7% in the third quarter. Wells Fargo & Company MN now owns 40,011 shares of the financial services provider’s stock worth $5,104,000 after buying an additional 5,735 shares during the period. 31.43% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on the company. BidaskClub raised Erie Indemnity from a “hold” rating to a “buy” rating in a research note on Tuesday, November 13th. ValuEngine raised Erie Indemnity from a “hold” rating to a “buy” rating in a research note on Monday, February 4th.
In other Erie Indemnity news, Director Salvatore Correnti bought 320 shares of the firm’s stock in a transaction that occurred on Wednesday, December 26th. The shares were bought at an average price of $126.81 per share, with a total value of $40,579.20. Following the purchase, the director now owns 320 shares of the company’s stock, valued at $40,579.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Louis F. Colaizzo bought 750 shares of the firm’s stock in a transaction that occurred on Monday, December 31st. The shares were acquired at an average cost of $133.00 per share, for a total transaction of $99,750.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 1,820 shares of company stock worth $240,079 in the last three months. 46.84% of the stock is owned by corporate insiders.
Shares of ERIE opened at $162.62 on Thursday. The company has a market cap of $7.33 billion, a P/E ratio of 31.00 and a beta of 0.43. Erie Indemnity has a 12-month low of $110.15 and a 12-month high of $163.26. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.99 and a current ratio of 1.99.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 23rd. Investors of record on Tuesday, January 8th were paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 2.21%. The ex-dividend date was Monday, January 7th. This is an increase from Erie Indemnity’s previous quarterly dividend of $0.84.
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Erie Indemnity 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, and policy issuance services for the policyholders on behalf of the Erie Insurance Exchange. Its sales related services include agent compensation, and sales and advertising support services; and underwriting services comprise underwriting and policy processing, as well as provides administrative support, information technology, and customer services.
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