Company Overview - Erie Indemnity Company, based in Erie, Pennsylvania, acts as the attorney-in-fact for the Erie Insurance Exchange, a reciprocal insurer focused on property and casualty insurance. The company has a market capitalization of $14.7 billion, providing issuance, renewal, sales-related, and underwriting services [1] Stock Performance - Shares of Erie Indemnity have decreased by 41.9% from their 52-week high of $547. Over the past three months, ERIE stock has dropped 8.8%, underperforming the SPDR S&P Insurance ETF (KIE), which has gained 1.2% during the same period [2] - Year-to-date, ERIE stock has declined by 22.9%, while KIE has increased by 4.4%. In the past 52 weeks, ERIE shares have fallen by 39.6%, significantly lagging behind KIE's 4% return. The stock has been trading below its 50-day moving average since late April and under its 200-day moving average since mid-May [3] Earnings Report - On August 7, Erie Indemnity announced its second-quarter earnings, resulting in a 1.3% increase in shares during the following trading session. The company's net income rose by 6.6% year-over-year to $174.7 million, or $3.34 per share, although this was slightly below analyst expectations. Revenue increased by 7% to $1.06 billion, driven by higher management fees and administrative services revenue, but also fell short of forecasts [4] Peer Comparison - Compared to its peer, Willis Towers Watson Public Limited Company (WTW), which has seen a 7.5% increase year-to-date and a 16.6% gain over the past 52 weeks, Erie Indemnity has underperformed. ERIE has a consensus rating of "Moderate Buy" from three analysts, and it is currently trading above the mean price target of $73 [5]
How Is Erie Indemnity’s Stock Performance Compared to Other Insurance Stocks?