Revenue Update on Erie Indemnity Company(NASDAQ:ERIE)

Erie Indemnity Company(NASDAQ:ERIE) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Company reported revenue of $423.88M. Analysts estimated a revenue of $430.66M. Earnings per share were $1.17. Analysts had estimated an EPS of $1.05.

Erie Indemnity Company (ERIE) made into the market gainers list on Thursdays trading session with the shares advancing 0.31% or 0.31 points. Due to strong positive momentum, the stock ended at $99.21, which is also near the day’s high of $99.65. The stock began the session at $98.89 and the volume stood at 19,094 shares. The 52-week high of the shares is $101.8 and the 52 week low is $79.39. The company has a current market capitalization of $4,583 M and it has 4,61,91,610 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jul 1, 2016, George D Dufala (Executive Vice President) sold 12,950 shares at $99.30 per share price.Also, On Jul 1, 2016, John F Kearns (Executive Vice President) sold 3,990 shares at $98.75 per share price.On Jun 9, 2015, Robert C Iii Ingram (Executive VP & CIO) purchased 2,500 shares at $79.90 per share price, according to the Form-4 filing with the securities and exchange commission.

Erie Indemnity Company (Indemnity) is engaged in managing attorney-in-fact for the subscribers (policyholders) at the Erie Insurance Exchange (Exchange). The Company operates in four segments including management operations property and casualty insurance operations life insurance operations and investment operations. Management operations generate internal management fee revenue which accrues to the Indemnity shareholder interest. The Property and casualty insurance operations generate revenue which accrues to the noncontrolling interest by insuring preferred and standard risks with personal lines and commercial lines. Life insurance operations generate revenue from the sale of individual and group life insurance policies and fixed annuities. Investment operations generate revenue from its fixed maturity equity security and limited partnership investment portfolios to support its underwriting business.

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