Latest news with #ERIE
Yahoo
6 days ago
- Business
- Yahoo
Are Wall Street Analysts Bullish on Erie Indemnity Stock?
Valued at a market cap of $16.5 billion, Erie Indemnity Company (ERIE) is a U.S.-based insurance services company headquartered in Erie, Pennsylvania. It serves as the managing attorney-in-fact for the Erie Insurance Exchange, which is a reciprocal insurance exchange offering auto, home, business, and life insurance. Shares of ERIE have underperformed the broader market, plunging 19.8% over the past 52 weeks and 12.5% this year. In contrast, the S&P 500 Index ($SPX) has gained 19.3% over the past year and is up 8.4% in 2025. More News from Barchart This High-Yield (7%) Dividend Stock Is Down Significantly in 2025. Should You Buy the Dip? Dear CoreWeave Stock Fans, Mark Your Calendars for August 14 Tesla Is Axing Its Dojo Supercomputer Plans. What Does That Mean for TSLA Stock Here? Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! Zooming out, ERIE has also lagged behind the SPDR S&P Insurance ETF (KIE). The exchange-traded fund has gained 8.7% over the past 52 weeks and 1.2% on a YTD basis. On Aug. 7, Erie announced its second-quarter earnings, and its shares rose 1.3% in the following trading session. Its net income rose 6.6% year-over-year to $174.7 million, or $3.34 per share, though slightly below analyst expectations. Revenue grew 7% to $1.06 billion, driven by higher management fees and administrative services revenue, but fell just short of forecasts. For fiscal 2025, which ends in December, analysts expect Erie Indemnity's EPS to grow 8.4% to $12.44. The company's earnings surprise history is mixed. It beat the consensus estimate in two of the last four quarters, while missing in the other two quarters. ERIE stock has a consensus 'Moderate Buy' rating overall. Of the two analysts covering the stock, one recommends a 'Strong Buy,' and one suggests a 'Hold' rating. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-06-2025
- Business
- Yahoo
Erie Indemnity Stock: Is ERIE Underperforming the Financial Sector?
Erie, Pennsylvania-based Erie Indemnity Company (ERIE) serves as the attorney-in-fact for the subscribers at the Erie Insurance Exchange, which is a reciprocal insurer that writes property and casualty insurance. With a market cap of $16.1 billion, the company provides issuance and renewal services, sales-related services, and underwriting services. Companies valued at $10 billion or more are generally classified as 'large-cap' stocks, and Erie Indemnity Company fits this description perfectly. The company offers strong customer service and a regional focus, supporting a network of independent insurance agents and providing a wide range of personal and commercial insurance products. Dear Tesla Stock Fans, Mark Your Calendars for June 30 3 ETFs with Dividend Yields of 12% or Higher for Your Income Portfolio Nvidia Is Quickly Approaching a New Record High. Is It Too Late to Buy NVDA Stock? Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! Shares of Erie Indemnity have dipped 36.3% from its 52-week high of $547. ERIE stock has dropped 16.6% over the past three months, lagging behind the Financial Select Sector SPDR Fund's (XLF) 2.4% increase. In the long term, ERIE stock has dipped 15.4% on a YTD basis, whereas XLF has risen 3.9%. Additionally, over the past 52 weeks, shares of NTAP have decreased 2.3%, underperforming XLF's 21.7% return. The stock has been trading below its 50-day moving average since late April. Also, despite some fluctuations, the stock has been trading below its 200-day moving average since early December last year. Shares of ERIE tumbled 11.5% following the release of its mixed Q1 2025 results on Apr. 24. Driven by a 13.4% increase in management fee revenue and a 29% jump in investment income, its quarterly revenue rose 12.3% from the year-ago quarter to $989.4 million, exceeding Street forecasts. However, EPS came in at $2.65, a 11.3% year-over-year increase, but missed analysts' estimates, which dampened investor sentiment. Compared to its peer, Willis Towers Watson Public Limited Company (WTW) has outpaced ERIE stock. Shares of WTW have declined 5% on a YTD basis and gained 16.5% over the past 52 weeks. Although ERIE has underperformed relative to the sector, analysts are moderately optimistic about its stock's prospects. ERIE has a consensus rating of 'Moderate Buy' from the two analysts covering the stock, and as of writing, it is trading notably above the mean price target of $73. On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
09-06-2025
- Business
- Yahoo
New Carnegie Classification recognizes Behrend as a ‘Higher Earnings' college
ERIE — Penn State Behrend has received a new Carnegie Classification as a 'Higher Earnings' institution — a reflection of the return on investment for Behrend graduates. Just 10 percent of all U.S. colleges and universities received the 2025 designation, which measures graduates' earnings eight years after they enroll at a college. The designation, part of a new Student Access and Earnings Classification, is awarded by the American Council on Education and the Carnegie Foundation for the Advancement of Teaching; it also assessed student access at the institutions that were evaluated. 'This new designation reinforces what we consistently hear from our graduates, who find success and competitive compensation in their chosen careers,' Chancellor Ralph Ford said. 'That measure is important not only to our graduates, but to prospective students who are just beginning their college experience and want to be strategic with that investment.' In February, Penn State Behrend and Penn State Harrisburg received the Carnegie Classification for 'Research Colleges and Universities,' a new designation for high-achieving research institutions that do not award Ph.D. degrees. To qualify, a college must produce at least $2.5 million in annual research and development spending. At Behrend, the research enterprise now generates nearly $10 million in sponsored research every year. Highlights from the last year include: • $6.5 million from the commonwealth's Redevelopment Assistance Capital Program to begin construction of the Center for Manufacturing Competitiveness, an industry-facing research facility that will feature specialized plastics, metal-casting and manufacturing labs. • $4.4 million from the Department of Defense and the Institute for Advanced Composites Manufacturing Innovation to develop metals-based manufacturing programs. • $2.5 million in federal funding for a battery-testing rig that will be used to study thermal runaway — a chain-reaction that can occur when lithium-ion batteries overheat. 'Research opportunities are a pillar of Penn State Behrend's 'Open Lab' approach to learning,' Ford said. 'For students — especially undergraduates — a research experience can be a differentiator. In the lab or in the field, students more fully understand the nature of their work, and they see firsthand how they can make a difference.'
Yahoo
03-06-2025
- Business
- Yahoo
Erie Insurance moves up on Fortune 500's list of America's largest corporations
(WJET/WFXP) — One local company is climbing the ladder on a nationwide list. On Tuesday, June 3, Erie Insurance (ERIE) announced that it ranked 323 on the 2025 Fortune 500 list, moving up over 20 spots from the previous year. North East Marina business owners raise concerns over marina closure Companies are ranked on their total revenues for the fiscal year, with the threshold for making the list being $7.4 billion. President and CEO of ERIE, Tim NeCastro, was thrilled to share this accomplishment. Erie Co. owes over $500,000 after ECGRA audit comes back clean 'It's an honor to be ranked on the Fortune 500 and exciting to be climbing this list of successful and well-respected companies,' said NeCastro. 'When our founders opened the doors of Erie Insurance 100 years ago, I'm not sure they could have imagined that one day their company would be among the largest in the country. I am sure, however, that they would be proud of ERIE's lasting success and unwavering dedication to service.' ERIE originally made its way onto the list in 2003. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
01-05-2025
- Business
- Yahoo
Erie Insurance announces new $100 million charitable foundation
(WJET/WFXP) – A long-standing insurance agency is celebrating its longevity by giving back to the Erie community. On Thursday, May 1, Erie Insurance (ERIE) announced the inception of the Erie Insurance Foundation, which aims to create new grants and contribute to charities within the area. Historic Customs house, AKA the Erie Art Museum, begins preservation project The foundation was created as part of Erie Insurance's several 100th anniversary events, including 100 days of service, 100 days of giving and the ringing of the NASDAQ Opening Bell. Erie Indemnity Company, the management company of Erie Insurance, donated $100 million as an initial investment in hopes that it will grow in the years to come. Second Harvest Food Bank hosts 34th annual Break Box Awards Christy Blashock, ERIE's chief diversity and community development officer, said that this new foundation will be a way to give back to the community after a century of business. 'At Erie Insurance, service has been central to our success for 100 years,' said Blashock. 'We understand and embrace our great responsibility to help grow and develop communities where our own ERIE Family lives and works. A century later, these ideals remain at the heart of who we are at ERIE. This substantial seed gift, and the foundation itself, will provide support for charitable organizations well into the future.' To learn more about Erie Insurance, click here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
