Erie Indemnity Company (ERIE) Can’t Burn Your Long Portfolio. Just Reaches 52-Week High

June 19, 2017 - By Clifton Ray

Investors sentiment increased to 0.95 in 2016 Q4. Its up 0.20, from 0.75 in 2016Q3. It increased, as 8 investors sold Erie Indemnity Company shares while 52 reduced holdings. 19 funds opened positions while 38 raised stakes. 14.15 million shares or 1.61% more from 13.93 million shares in 2016Q3 were reported.
500 are owned by Walleye Trading Llc. Morgan Stanley invested 0% of its portfolio in Erie Indemnity Company (NASDAQ:ERIE). Pine River Cap Ltd Partnership, Minnesota-based fund reported 4,900 shares. Voya Invest has invested 0% of its portfolio in Erie Indemnity Company (NASDAQ:ERIE). Intl Grp Inc Inc has invested 0% in Erie Indemnity Company (NASDAQ:ERIE). The Texas-based Teacher Retirement System Of Texas has invested 0% in Erie Indemnity Company (NASDAQ:ERIE). Schwab Charles Invest Mngmt Inc reported 0.01% in Erie Indemnity Company (NASDAQ:ERIE). Guggenheim Ltd Liability Company has invested 0.01% of its portfolio in Erie Indemnity Company (NASDAQ:ERIE). State Of Wisconsin Investment Board holds 0.01% of its portfolio in Erie Indemnity Company (NASDAQ:ERIE) for 13,299 shares. Horizon Kinetics Limited Liability Corp has 3,718 shares for 0.01% of their portfolio. 2 were accumulated by Earnest Prns Ltd Limited Liability Company. Blackrock Advisors Ltd Liability has invested 0% in Erie Indemnity Company (NASDAQ:ERIE). Acadian Asset Mgmt Ltd Com invested in 204 shares or 0% of the stock. Employees Retirement Association Of Colorado owns 783 shares for 0% of their portfolio. Next Grp invested in 0% or 870 shares.

Since March 10, 2017, it had 1 buy, and 1 sale for $274,441 activity. WILBURN ROBERT C also sold $324,424 worth of Erie Indemnity Company (NASDAQ:ERIE) on Friday, March 10.

The stock of Erie Indemnity Company (NASDAQ:ERIE) hit a new 52-week high and has $132.53 target or 5.00 % above today’s $126.22 share price. The 7 months bullish chart indicates low risk for the $6.75 billion company. The 1-year high was reported on Jun, 19 by Barchart.com. If the $132.53 price target is reached, the company will be worth $337.50M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

About 5,133 shares traded. Erie Indemnity Company (NASDAQ:ERIE) has risen 20.44% since June 19, 2016 and is uptrending. It has outperformed by 3.74% the S&P500.

Analysts await Erie Indemnity Company (NASDAQ:ERIE) to report earnings on July, 27. They expect $1.22 earnings per share, up 4.27 % or $0.05 from last year’s $1.17 per share. ERIE’s profit will be $65.24M for 25.86 P/E if the $1.22 EPS becomes a reality. After $0.91 actual earnings per share reported by Erie Indemnity Company for the previous quarter, Wall Street now forecasts 34.07 % EPS growth.

More recent Erie Indemnity Company (NASDAQ:ERIE) news were published by: Prnewswire.com which released: “Erie Indemnity Company Reports Election of Directors” on April 26, 2017. Also Seekingalpha.com published the news titled: “Erie Indemnity’s (ERIE) CEO Timothy NeCastro on Q4 2016 Results – Earnings …” on February 24, 2017. Seekingalpha.com‘s news article titled: “Erie Indemnity’s (ERIE) Timothy NeCastro on Q1 2017 Results – Earnings Call …” with publication date: May 02, 2017 was also an interesting one.

Erie Indemnity Company is a management company. The company has market cap of $6.75 billion. The Firm serves as the attorney-in-fact for the subscribers at the Erie Insurance Exchange (Exchange). It has a 31.15 P/E ratio. The Exchange is a reciprocal insurer that writes property and casualty insurance.

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