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Erie Indemnity Co Stock Research

ERIE

224.19USD+0.67(+0.30%)Market Closed

Market Summary

USD224.19+0.67
Market Closed
0.30%

ERIE Stock Price

ERIE RSI Chart

ERIE Valuation

ERIE Profitability

EBT Margin

13.25%

Return on Equity

20.61%

Return on Assets

13.33%

ERIE Fundamentals

ERIE Revenue

Revenue (TTM)

2.8B

Revenue Y/Y

10.17%

Revenue Q/Q

-5.48%

ERIE Earnings

Earnings (TTM)

298.6M

Earnings Y/Y

18.98%

Earnings Q/Q

-22.33%

Price Action

52 Week Range

156.79286.50
(Low)(High)

Last 7 days

-3.5%

Last 30 days

-6.6%

Last 90 days

-18.8%

Trailing 12 Months

28.2%

ERIE Financial Health

Current Ratio

1.17

ERIE Investor Care

Financials for Erie Indemnity

Income Statement (Last 12 Months)
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Revenue2.3%2,8402,7752,7222,6762,634
Operating Expenses1.9%2,4642,4192,3772,3502,316
EBITDA3.0%378367376375381
EBITDA Margin0.7%0.13*0.13*0.14*0.14*0.14*
Earnings Before Taxes3.3%376364372371376
EBT Margin1.0%0.13*0.13*0.14*0.14*0.14*
Interest Expenses-34.3%2.003.004.004.004.00
Net Income3.6%299288294293298
Net Income Margin1.3%0.11*0.10*0.11*0.11*0.11*
Free Cahsflow-2.8%366377381393403
Balance Sheet
(In Millions)
* denotes actual numbers (not divided by Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Assets2.8%2,2392,1782,1802,2242,242
  Current Assets7.5%779724743751764
    Cash Equivalents45.5%14298.0090.00141184
Liabilities-3.7%791821841890900
  Current Liabilities4.9%665634637601631
.    Short Term BorrowingsInfinity%40.00----
    LT Debt, CurrentNaN%---2.002.00
    LT Debt, Non CurrentNaN%---91.0092.00
Shareholder's Equity6.8%1,4481,3571,3391,3341,342
  Retained Earnings0.4%2,5832,5732,5412,5122,495
  Additional Paid-In Capital0%16.0016.0016.0016.0016.00
Cashflow (Last 12 Months)
(In Millions)
Description(%) Q/Q2022Q42022Q32022Q22022Q12021Q4
Cashflow From Operations-2.8%366377381393403
Cashflow From Investing50.8%-106-217-192-188-185
Cashflow From Financing-1.0%-300-297-254-198-194
  Dividend Payments1.7%207203200196193

Risks for ERIE

What is the probability of a big loss on ERIE?

54.2%


Probability that Erie Indemnity stock will be more than 20% underwater in next one year

29.2%


Probability that Erie Indemnity stock will be more than 30% underwater in next one year.

7.3%


Probability that Erie Indemnity stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does ERIE drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Erie Indemnity was unfortunately bought at previous high price.

Drawdowns

Returns for ERIE

Cumulative Returns on ERIE

14.5%


10-Year Cumulative Returns

16.4%


7-Year Cumulative Returns

17.3%


5-Year Cumulative Returns

16.1%


3-Year Cumulative Returns

What are the long-term rolling returns for ERIE?

FIve years rolling returns for Erie Indemnity.

Annualized Returns

Which funds bought or sold ERIE recently?

View All Details
Datesorted ascendingFund NameType% Chg$ Change$ Held% Portfolio
2023-03-15
B. Riley Wealth Advisors, Inc.
new
-
249,715
249,715
0.01%
2023-03-10
VICTORY CAPITAL MANAGEMENT INC
added
131
6,328,380
10,321,400
0.01%
2023-03-06
Rockefeller Capital Management L.P.
unchanged
-
-
1,000
-%
2023-02-28
Voya Investment Management LLC
added
287
6,464,000
8,405,000
0.01%
2023-02-23
Tandem Wealth Advisors LLC
new
-
10,695
10,695
0.01%
2023-02-22
TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY
reduced
-7.3
611,000
17,058,000
0.18%
2023-02-21
MACQUARIE GROUP LTD
reduced
-2.84
48,851
611,851
-%
2023-02-17
TRUIST FINANCIAL CORP
unchanged
-
2,439,300
22,968,300
0.04%
2023-02-16
HARBOUR INVESTMENTS, INC.
new
-
2,238
2,238
-%
2023-02-15
Vestcor Inc
added
373
568,000
700,000
0.03%

1–10 of 48

Latest Funds Activity

Are funds buying ERIE calls or puts?
Calls
Puts
Are funds bullish or bearish(Calls - Puts)?
Net Call Options
No. of funds that own ERIE
No. of Funds

Erie Indemnity News

Nasdaq

Upcoming Dividend Run For ERIE?.

Nasdaq,
6 days ago

Investor's Business Daily

Investor's Business Daily

Schedule 13G FIlings of Erie Indemnity

Date FiledName of FilerPercent of ClassNo. of SharesForm Type
Feb 09, 2023
vanguard group inc
5.30%
2,450,196
SC 13G/A
Feb 11, 2022
pnc financial services group, inc.
12.51%
5,780,336
SC 13G/A
Feb 10, 2022
vanguard group inc
5.21%
2,406,357
SC 13G/A
Feb 12, 2021
pnc financial services group, inc.
12.53%
5,788,221
SC 13G/A
Feb 10, 2021
vanguard group inc
5.66%
2,614,144
SC 13G/A
Feb 12, 2020
vanguard group inc
5.71%
2,641,770
SC 13G/A
Feb 07, 2020
pnc financial services group, inc.
12.15%
5,611,033
SC 13G/A

ERIE Fair Value

Recent SEC filings of Erie Indemnity

View All Filings
Date Filed Form Type Document
Mar 24, 2023
ARS
ARS
Mar 24, 2023
DEF 14C
DEF 14C
Mar 20, 2023
4
Insider Trading
Mar 15, 2023
4
Insider Trading
Mar 15, 2023
4
Insider Trading
Mar 15, 2023
4
Insider Trading
Mar 15, 2023
4
Insider Trading
Mar 01, 2023
10-K
Annual Report
Mar 01, 2023
4
Insider Trading
Mar 01, 2023
4
Insider Trading

Latest Insider Trading transactions for ERIE

Filter Transactions
Datesorted ascendingNameBuy/Sell$ ValueAvg. Price# SharesTitle
2023-02-28
Feltz Lorianne
acquired
463
235
1.971
executive vice president
2023-02-28
Smith Douglas Edward
acquired
187
235
0.798
evp
2023-01-31
Gutting Gregory J
acquired
456
244
1.869
evp & cfo
2023-01-31
Feltz Lorianne
acquired
1,308
244
5.354
executive vice president
2023-01-31
Colaizzo Louis F
acquired
1.71045
244
0.007
svp
2023-01-31
Smith Douglas Edward
acquired
547
244
2.24
evp
2022-12-31
Smith Douglas Edward
acquired
452
248
1.819
evp
2022-12-31
Feltz Lorianne
acquired
889
248
3.577
executive vice president
2022-12-16
Colaizzo Louis F
gifted
-54,626
281
-194
svp
2022-11-11
Cipriani Marc
sold
-189,536
252
-750
senior vice president

1–10 of 50

Timothy G. NeCastro
5880
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, policy issuance, and renewal services for the policyholders on behalf of the Erie Insurance Exchange. It also offers sales related services, including agent compensation, and sales and advertising support services; and underwriting services comprise underwriting and policy processing; and other services consist of customer services and administrative support services, as well as information technology services. Erie Indemnity Company was incorporated in 1925 and is based in Erie, Pennsylvania.

ERIE Income Statement

2022-12-31
STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating revenue   
Total operating revenue$ 2,840,124$ 2,633,977$ 2,536,489
Operating expenses   
Total operating expenses2,463,9102,315,8802,198,332
Operating income376,214318,097338,157
Investment income   
Net investment income28,58562,17729,753
Net realized and unrealized investment (losses) gains(27,286)4,9466,392
Net impairment (losses) recoveries recognized in earnings(667)209(3,278)
Total investment income63267,33232,867
Interest expense, net2,0094,132731
Other income (expense)1,615(4,893)(1,778)
Income before income taxes376,452376,404368,515
Income tax expense77,88378,54475,211
Net income$ 298,569$ 297,860$ 293,304
Class A common stock   
Earnings per share - Basic and diluted:   
Common stock - basic (in dollars per share)$ 6.41$ 6.40$ 6.30
Common stock - diluted (in dollars per share)$ 5.71$ 5.69$ 5.61
Weighted average shares outstanding – Basic   
Common stock - basic (in shares)46,188,91646,188,80646,188,659
Weighted average shares outstanding – Diluted   
Common stock - diluted (in shares)52,297,99052,307,30252,313,360
Class B common stock   
Earnings per share - Basic and diluted:   
Common stock - basic (in dollars per share)$ 962$ 959$ 945
Common stock - diluted (in dollars per share)$ 962$ 959$ 945
Weighted average shares outstanding – Basic   
Common stock - basic (in shares)2,5422,5422,542
Weighted average shares outstanding – Diluted   
Common stock - diluted (in shares)2,5422,5422,542
Management fee revenue - policy issuance and renewal services   
Operating revenue   
Total operating revenue$ 2,087,846$ 1,913,166$ 1,841,794
Operating expenses   
Total operating expenses1,795,6421,677,3971,588,897
Management fee revenue - administrative services   
Operating revenue   
Total operating revenue58,32358,28659,463
Administrative services reimbursement revenue   
Operating revenue   
Total operating revenue668,268638,483609,435
Operating expenses   
Total operating expenses668,268638,483609,435
Service agreement revenue   
Operating revenue   
Total operating revenue$ 25,687$ 24,042$ 25,797

ERIE Balance Sheet

2022-12-31
STATEMENTS OF FINANCIAL POSITION - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets:  
Cash and cash equivalents$ 142,090$ 183,702
Available-for-sale securities24,26738,396
Receivables from Erie Insurance Exchange and affiliates, net524,937479,123
Prepaid expenses and other current assets79,20156,206
Accrued investment income8,3016,303
Total current assets778,796763,730
Available-for-sale securities, net870,394907,689
Equity securities72,56087,743
Fixed assets, net413,874374,802
Agent loans, net60,53758,683
Deferred income taxes, net0145
Other assets43,29549,265
Total assets2,239,4562,242,057
Current liabilities:  
Commissions payable300,028270,746
Agent bonuses95,166120,437
Accounts payable and accrued liabilities165,915138,317
Dividends payable55,41951,693
Contract liability36,54734,935
Deferred executive compensation12,03612,637
Current portion of long-term borrowings02,098
Total current liabilities665,111630,863
Defined benefit pension plans51,224130,383
Long-term borrowings091,734
Contract liability17,89517,686
Deferred executive compensation13,72414,571
Deferred income taxes, net14,0750
Other long-term liabilities29,01914,342
Total liabilities791,048899,579
Shareholders' equity  
Additional paid-in-capital16,48116,496
Accumulated other comprehensive loss(7,414)(25,288)
Retained earnings2,583,2612,495,190
Total contributed capital and retained earnings2,594,4982,488,568
Treasury stock, at cost; 22,110,132 shares held(1,168,949)(1,167,828)
Deferred compensation22,85921,738
Total shareholders' equity1,448,4081,342,478
Total liabilities and shareholders' equity2,239,4562,242,057
Class A common stock  
Shareholders' equity  
Common stock1,9921,992
Class B common stock  
Shareholders' equity  
Common stock$ 178$ 178