Breaking: Is Buying Erie Indemnity Company Here a Winning Strategy?

Breaking: Is Buying Erie Indemnity Company Here a Winning Strategy?

The stock of Erie Indemnity Company (NASDAQ:ERIE) reached all time high today, Oct, 17 and still has $135.32 target or 30.00% above today’s $104.09 share price. This indicates more upside for the $5.46 billion company. This technical setup was reported by If the $135.32 PT is reached, the company will be worth $1.64B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 22,801 shares traded hands. Erie Indemnity Company (NASDAQ:ERIE) has risen 14.26% since March 14, 2016 and is uptrending. It has outperformed by 8.65% the S&P500.

Analysts await Erie Indemnity Company (NASDAQ:ERIE) to report earnings on November, 3. They expect $1.04 earnings per share, up 9.47% or $0.09 from last year’s $0.95 per share. ERIE’s profit will be $54.55 million for 25.02 P/E if the $1.04 EPS becomes a reality. After $1.17 actual earnings per share reported by Erie Indemnity Company for the previous quarter, Wall Street now forecasts -11.11% negative EPS growth.

According to Zacks Investment Research, “Erie Indemnity Company’s principal business activity consists of management of the affairs for Erie Insurance Exchange. The company also participates in the property/casualty insurance business through its three wholly owned subsidiaries, Erie Insurance Company, Erie Insurance Company of New York, and Erie Insurance Property and Casualty Company and through its management of the Flagship City Insurance Company, a subsidiary of Erie Insurance Exchange.”

Insitutional Activity: The institutional sentiment decreased to 1.11 in 2016 Q2. Its down 0.23, from 1.34 in 2016Q1. The ratio dived, as 10 funds sold all Erie Indemnity Company shares owned while 45 reduced positions. 15 funds bought stakes while 46 increased positions. They now own 14.06 million shares or 1.69% more from 13.82 million shares in 2016Q1.
Tiaa Cref Invest Limited Co reported 72,737 shares or 0.01% of all its holdings. Mycio Wealth Ltd Company accumulated 61,439 shares or 1.05% of the stock. Blackrock accumulated 16,457 shares or 0% of the stock. The Ohio-based Victory Capital Inc has invested 0% in Erie Indemnity Company (NASDAQ:ERIE). Schwab Charles Inv Mngmt last reported 70,395 shares in the company. Wedgewood Invsts Inc Pa holds 53,530 shares or 5.06% of its portfolio. The Massachusetts-based Babson Limited Liability has invested 0.02% in Erie Indemnity Company (NASDAQ:ERIE). Culbertson A N & Communications Incorporated, a Virginia-based fund reported 6,200 shares. Huntington Comml Bank reported 4,000 shares or 0.01% of all its holdings. Us Fincl Bank De reported 718 shares or 0% of all its holdings. Brown Advisory accumulated 0.04% or 105,553 shares. Citadel Advsrs holds 18,412 shares or 0% of its portfolio. Financial Bank Of America De has invested 0% of its portfolio in Erie Indemnity Company (NASDAQ:ERIE). Robeco Institutional Asset Mgmt Bv accumulated 0.04% or 46,657 shares. The Florida-based Ladenburg Thalmann Fin Svcs Inc has invested 0.01% in Erie Indemnity Company (NASDAQ:ERIE).

Insider Transactions: Since June 30, 2016, the stock had 0 insider purchases, and 10 selling transactions for $2.53 million net activity. $49,850 worth of Erie Indemnity Company (NASDAQ:ERIE) was sold by Kearns John F. DUFALA GEORGE D had sold 12,950 shares worth $1.29 million on Thursday, June 30.

More recent Erie Indemnity Company (NASDAQ:ERIE) news were published by: which released: “Erie Indemnity Company (ERIE) Ex-Dividend Date Scheduled for October 03, 2016” on September 30, 2016. Also published the news titled: “Erie Indemnity to host third quarter 2016 conference call and webcast” on October 12, 2016.‘s news article titled: “Susan Hirt Hagen, Billionaire Erie Indemnity Heiress, Dies at 79” with publication date: June 15, 2015 was also an interesting one.

ERIE Company Profile

Erie Indemnity Company, incorporated on April 17, 1925, is a management company. The Firm serves as the attorney-in-fact for the subscribers (policyholders) at the Erie Insurance Exchange (Exchange). The Exchange is a reciprocal insurer that writes property and casualty insurance. The Company’s primary function is to perform certain services for the Exchange relating to the sales, underwriting and issuance of policies on behalf of the Exchange. The sales related services the Company provides include agent compensation, and certain sales and advertising support services. Agent compensation includes scheduled commissions to agents based upon premiums written, as well as additional commissions and bonuses to agents. The underwriting services the Company provides include underwriting and policy processing expenses. It provides information technology services that support all functions. The remaining services the Company provides include customer service and administrative costs.

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