Cadence Capital Management LLC lowered its stake in Erie Indemnity Company (NASDAQ:ERIE) by 0.1% during the fourth quarter, Holdings Channel reports. The fund owned 6,810 shares of the company’s stock after selling 10 shares during the period. Cadence Capital Management LLC’s holdings in Erie Indemnity Company were worth $766,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aperio Group LLC boosted its position in Erie Indemnity Company by 172.6% in the third quarter. Aperio Group LLC now owns 11,734 shares of the company’s stock valued at $1,198,000 after buying an additional 7,429 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Erie Indemnity Company by 5.6% in the third quarter. Advisors Asset Management Inc. now owns 39,206 shares of the company’s stock valued at $4,002,000 after buying an additional 2,068 shares during the last quarter. Wells Fargo & Company MN boosted its position in Erie Indemnity Company by 2.9% in the third quarter. Wells Fargo & Company MN now owns 6,613 shares of the company’s stock valued at $675,000 after buying an additional 187 shares during the last quarter. Chicago Equity Partners LLC bought a new position in Erie Indemnity Company during the third quarter valued at approximately $206,000. Finally, Public Employees Retirement System of Ohio boosted its position in Erie Indemnity Company by 5.5% in the second quarter. Public Employees Retirement System of Ohio now owns 9,844 shares of the company’s stock valued at $978,000 after buying an additional 515 shares during the last quarter. 30.73% of the stock is owned by hedge funds and other institutional investors.
Erie Indemnity Company (NASDAQ:ERIE) opened at 114.00 on Tuesday. The firm has a market capitalization of $5.96 billion, a PE ratio of 30.69 and a beta of 0.46. The company’s 50-day moving average price is $112.35 and its 200 day moving average price is $105.50. Erie Indemnity Company has a 1-year low of $88.69 and a 1-year high of $116.21.
The business also recently declared a quarterly dividend, which was paid on Friday, January 20th. Shareholders of record on Thursday, January 5th were issued a $0.7825 dividend. The ex-dividend date of this dividend was Tuesday, January 3rd. This represents a $3.13 annualized dividend and a dividend yield of 2.75%. This is a boost from Erie Indemnity Company’s previous quarterly dividend of $0.73. Erie Indemnity Company’s dividend payout ratio is currently 84.59%.
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Erie Indemnity Company Company Profile
Erie Indemnity Company is a management company. The Company 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.
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