Erie Indemnity Company (NASDAQ:ERIE) has been downgraded to Hold in a statement by Zacks Investment Research earlier today.
- Updated: October 4, 2016
Zacks Investment Research has downgraded Erie Indemnity Company (NASDAQ:ERIE) to Hold in a statement released on 10/4/2016.
On 1/19/2016, Macquarie Research released a statement about Erie Indemnity Company (NASDAQ:ERIE) upped the target price from $84.00 to $96.00 that suggested an upside of 0.02%.
Having a price of $99.71, Erie Indemnity Company (NASDAQ:ERIE) traded -0.49% lower on the day. With the last stock price up 2.73% from the two hundred day average, compared with the Standard & Poor's 500 Index which has decreased -0.01% over the same period. ERIE has recorded a 50-day average of $100.25 and a two hundred day average of $97.06. Trade Volume was up over the average, with 104,449 shares of ERIE changing hands over the typical 34,243
Recent Performance Chart
Erie Indemnity Company has PE ratio of 28.01 with a one year low of $81.07 and a one year high of $104.21 and has a market capitalization of $0.
General Company Details For Erie Indemnity Company (NASDAQ:ERIE)
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. 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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