Last $89.81 USD
Change Today -0.96 / -1.06%
Volume 28.2K
ERIE On Other Exchanges
Symbol
Exchange
NASDAQ GS
OTC US
As of 8:10 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

erie indemnity company-cl a (ERIE) Snapshot

Open
$90.68
Previous Close
$90.77
Day High
$90.90
Day Low
$89.75
52 Week High
12/8/14 - $94.00
52 Week Low
03/21/14 - $66.55
Market Cap
4.7B
Average Volume 10 Days
50.4K
EPS TTM
$3.38
Shares Outstanding
46.2M
EX-Date
01/2/15
P/E TM
26.6x
Dividend
$2.72
Dividend Yield
2.83%
Current Stock Chart for ERIE INDEMNITY COMPANY-CL A (ERIE)

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erie indemnity company-cl a (ERIE) Details

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. It operates 24 field offices in 11 states. The company was founded in 1925 and is based in Erie, Pennsylvania.

4,450 Employees
Last Reported Date: 02/27/14
Founded in 1925

erie indemnity company-cl a (ERIE) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $971.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $469.6K
Executive Vice President of Products
Total Annual Compensation: $519.6K
Executive Vice President of Services
Total Annual Compensation: $425.8K
Executive Vice President of Sales & Marketing
Total Annual Compensation: $425.8K
Compensation as of Fiscal Year 2013.

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.

 

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Industry Analysis

ERIE

Industry Average

Valuation ERIE Industry Range
Price/Earnings 26.5x
Price/Sales 0.8x
Price/Book 6.1x
Price/Cash Flow 23.3x
TEV/Sales NM Not Meaningful
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