NEW YORK ( TheStreet) -- Erie Indemnity Company (Nasdaq: ERIE) hit a new 52-week high Thursday as it is currently trading at $73, above its previous 52-week high of $72.95 with 24,895 shares traded as of 10:49 a.m. ET. Average volume has been 54,400 shares over the past 30 days. Erie Indemnity has a market cap of $3.5 billion and is part of the financial sector and insurance industry. Shares are up 9% year to date as of the close of trading on Wednesday. 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 25.2, equal to the average insurance industry P/E ratio and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Erie Indemnity as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Erie Indemnity Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.