NEW YORK ( TheStreet) -- Erie Indemnity Company (Nasdaq: ERIE) hit a new 52-week high Monday as it traded at $69.84 compared with its previous 52-Week high of $69.79. Erie Indemnity is changing hands at $69.84 with 105,612 shares traded as of 4 p.m. ET. Average volume has been 57,900 shares over the past 30 days.

Erie Indemnity has a market cap of $3.4 billion and is part of the financial sector and insurance industry. Shares are up 5.7% year to date as of the close of trading on Friday.

Erie Indemnity Company provides sales, underwriting, and policy issuance services to the policyholders of Erie Insurance Exchange in the United States. The company offers property/casualty insurance; and underwrites personal and commercial lines property, and casualty coverage. The company has a P/E ratio of 23.9, above the average insurance industry P/E ratio of 22.4 and above the S&P 500 P/E ratio of 22.6.

TheStreet Ratings rates Erie Indemnity as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Erie Indemnity Ratings Report.

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