Last $90.77 USD
Change Today +0.37 / 0.41%
Volume 30.5K
ERIE On Other Exchanges
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As of 5:10 PM 12/24/14 All times are local (Market data is delayed by at least 15 minutes).

erie indemnity company-cl a (ERIE) Key Developments

Erie Indemnity Company Agrees Increased Regular Quarterly Cash Dividend Payable on January 21, 2015

The Board of Erie Indemnity Company agreed to increase the regular quarterly cash dividend from $0.635 to $0.681 on each Class A share and from $95.25 to $102.15 on each Class B share. This represents a 7.2% increase in the payout per share over the current dividend rate. The next quarterly dividend is payable January 21, 2015, to shareholders of record as of January 6, 2015, with a dividend ex-date of January 2, 2015.

Erie Insurance Group Launches New Car Insurance Coverage

Erie Insurance Group has launched new car insurance coverage to protect drivers who use ridesharing services like Uber and Lyft. The new car insurance coverage solves a longstanding problem for drivers in the ridesharing economy by eliminating confusion over what's covered and when. With ERIE's new coverage, the driver has insurance coverage during every part of the trip-before, during and after the hired ride. The new Erie Insurance coverage is available to people who put a 'business use' designation on their personal car insurance policy.

Erie Indemnity Company Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Erie Indemnity Company reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net income attributable to the company was $47 million, or $0.90 per diluted Class A share compared to $46 million, or $0.87 per diluted Class A share, in the third quarter of 2013. The growth was driven by increased revenue from management operations. Total revenues were $1,426 million compared to $1,577 million reported a year ago. Income from operations before income taxes and non controlling interest was $150 million compared to $398 million reported a year ago. Net income attributable to the company per diluted Class B common stock was $151 compared to $147 reported a year ago. This year-over-year improvement reflects strong growth in management margin, as well as investment operations. Revenue from management operations grew $29 million to $370 million, this represents an 8.5% increase over the prior year period and is consistent with the nearly 9% increase in direct written premium of the property and casualty group. Net income attributable to the company was $142 million, or $2.71 per diluted Class A share, in the first nine months of 2014, compared to $127 million, or $2.41 per diluted Class A share, in the first nine months of 2013. The growth was driven by increased revenue from management operations and lower expense growth. Total revenues were $4,535 million compared to $4,574 million reported a year ago. Income from operations before income taxes and non controlling interest was $453 million compared to $1,097 million reported a year ago. Net income attributable to the company per diluted Class B common stock was $457 compared to $406 reported a year ago. The company continues to achieve strong results through sound execution of its business strategy and the steadfast commitment of its Agents, Customers and Employees.

Erie Indemnity Company to Report Q3, 2014 Results on Oct 30, 2014

Erie Indemnity Company announced that they will report Q3, 2014 results at 5:00 PM, Eastern Standard Time on Oct 30, 2014

Erie Indemnity Company Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Erie Indemnity Company announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenues of $1,598 million compared to $1,426 million a year ago. Income from operations before income taxes and noncontrolling interest was $147 million compared to $263 million a year ago. Net income attributable to the company was $49 million compared to $44 million a year ago. Diluted EPS for class A common share was $0.94 compared to $0.84 a year ago. Basic and diluted EPS for class B common share was $158 compared to $142 a year ago. For the six months, the company reported total revenues of $3,109 million compared to $2,997 million a year ago. Income from operations before income taxes and noncontrolling interest was $303 million compared to $699 million a year ago. Net income attributable to the company was $95 million compared to $81 million a year ago. Diluted EPS for class A common share was $1.82 compared to $1.54 a year ago. Basic and diluted EPS for class B common share was $307 compared to $259 a year ago.

 

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Industry Analysis

ERIE

Industry Average

Valuation ERIE Industry Range
Price/Earnings 26.4x
Price/Sales 0.8x
Price/Book 6.1x
Price/Cash Flow 23.2x
TEV/Sales NM Not Meaningful
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