Martingale Asset Management L P Trims Stake in Erie Indemnity (ERIE)

Martingale Asset Management L P reduced its position in shares of Erie Indemnity (NASDAQ:ERIE) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,890 shares of the financial services provider’s stock after selling 400 shares during the period. Martingale Asset Management L P owned about 0.11% of Erie Indemnity worth $6,746,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue raised its holdings in Erie Indemnity by 32.2% during the second quarter. State of Alaska Department of Revenue now owns 3,000 shares of the financial services provider’s stock worth $350,000 after purchasing an additional 730 shares in the last quarter. Hartford Investment Management Co. purchased a new position in Erie Indemnity during the second quarter worth about $282,000. BNP Paribas Arbitrage SA raised its holdings in Erie Indemnity by 108.0% during the second quarter. BNP Paribas Arbitrage SA now owns 5,539 shares of the financial services provider’s stock worth $650,000 after purchasing an additional 2,876 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new position in Erie Indemnity during the second quarter worth about $657,000. Finally, Sei Investments Co. raised its holdings in Erie Indemnity by 0.9% during the second quarter. Sei Investments Co. now owns 51,856 shares of the financial services provider’s stock worth $6,081,000 after purchasing an additional 465 shares in the last quarter. Institutional investors own 31.19% of the company’s stock.

Shares of Erie Indemnity stock opened at $132.80 on Friday. Erie Indemnity has a 12-month low of $106.63 and a 12-month high of $147.17. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.99 and a quick ratio of 1.99. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 33.62 and a beta of 0.36.

Erie Indemnity (NASDAQ:ERIE) last issued its earnings results on Thursday, October 25th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.18. Erie Indemnity had a net margin of 11.69% and a return on equity of 30.65%. The company had revenue of $612.13 million during the quarter.

Several research analysts recently issued reports on the stock. BidaskClub cut shares of Erie Indemnity from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. ValuEngine raised shares of Erie Indemnity from a “hold” rating to a “buy” rating in a report on Saturday, October 27th.

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About Erie Indemnity

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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Institutional Ownership by Quarter for Erie Indemnity (NASDAQ:ERIE)

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