Dividend Coverage: This Insurance Company has Increased Dividend for the Past 21 Years; Will Trade Ex-Dividend on July 03, 2017

LONDON, UK / ACCESSWIRE / June 30, 2017 / Pro-Trader Daily takes a closer look at Erie Indemnity Co. (NASDAQ: ERIE) as the Company’s stock will begin trading ex-dividend on July 03, 2017. In order to capture the dividend payout, investors must purchase the stock one day prior (excluding weekend) to the ex-dividend date that is by latest end of the trading session on June 30, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at: http://protraderdaily.com/register/.

Today, PRO-TD covers ex-dividend news on ERIE. Get our free coverage by signing up at: http://protraderdaily.com/optin/?symbol=ERIE.

Dividend Declared

As per the Company’s data on April 25, 2017, Erie Indemnity announced that its Board of Directors has declared a quarterly cash dividend of Class A of $0.7825 and Class B of $117.375 per outstanding share of common stock. The dividend is payable on July 20, 2017, to shareholders of record as of the close of business on July 06, 2017.

Erie Indemnity’s indicated dividend represents a yield of 2.48% compared to the average dividend yield for the financial sector of 3.18%. The Company has increased its dividend consecutively for the past 21 years.

Dividend Insights

Erie Indemnity has a dividend payout ratio of 76.7% which reflects that the Company distributes approximately $0.77 for every $1.00 earned. The dividend payout ratio reflects how much money a Company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, or to add to its cash reserves.

According to analysts’ estimates, Erie Indemnity is expected to report earnings of $4.24 in the coming year, which again comfortably covers the Company’s annualized dividend of $3.13.

As on March 31, 2017, Erie Indemnity had cash and cash equivalents worth $110.42 million and its current assets totaling $625.72 million, while current liabilities were $665 million. Having a liquidity pool allows the Company to absorb any fluctuations in earnings and pay its dividend without interruption.

About the Company

Erie Insurance Group, based in Erie, Pennsylvania, is the 10th largest homeowners insurer and 12th largest automobile insurer in the United States based on direct premiums written and the 15th largest property/casualty insurer in the United States based on total lines net premium written. The Group has more than 5 million policies in force and operates in 12 states and the District of Columbia. Erie Insurance Group is a FORTUNE 500 Company.

Recent Development for Erie Insurance

On May 04, 2017, Erie Insurance announced the appointment of Cody Cook as senior vice president, Personal Products. Cook started with ERIE in 2003 in the Actuarial Division, where he spent seven years before being promoted to supervisor of the Pricing and Modeling Section in 2009. For the past seven years, he has served as the private passenger auto vice president and product manager.

Under Cook’s leadership, Erie Insurance has evolved its auto insurance product offerings to meet changing customer needs including helping to develop ERIE Rate Lock®, a feature that protects insurance rates from going up even after a claim until the customer removes a vehicle or adds or removes a driver from the policy, or changes addresses.

Stock Performance

At the closing bell, on Thursday, June 29, 2017, Erie Indemnity’s stock fell 1.27%, ending the trading session at $124.86. A total volume of 26.75 thousand shares have exchanged hands. The Company’s stock price surged 2.87% in the last three months, 10.91% in the past six months, and 27.66% in the previous twelve months. Moreover, the stock rallied 11.04% since the start of the year. The stock is trading at a PE ratio of 30.81 and has a dividend yield of 2.51%. The stock currently has a market cap of $6.57 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

ReleaseID: 467201