Erie Indemnity Reaches New 52-Week High (ERIE)

NEW YORK ( TheStreet) -- Erie Indemnity Company (Nasdaq: ERIE) hit a new 52-week high Thursday as it is currently trading at $81.13, above its previous 52-week high of $79.23 with 4,626 shares traded as of 9:33 a.m. ET. Average volume has been 73,000 shares over the past 30 days.

Erie Indemnity has a market cap of $3.8 billion and is part of the financial sector and insurance industry. Shares are up 20% 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 26.7, 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 solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Erie Indemnity Ratings Report.

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