Last $87.49 USD
Change Today +0.58 / 0.67%
Volume 64.3K
As of 8:10 PM 03/2/15 All times are local (Market data is delayed by at least 15 minutes).

erie indemnity company-cl a (ERIE) Key Developments

Erie Indemnity Company Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Records net Impairment Losses for the Fourth Quarter of 2014

Erie Indemnity Company reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total revenues of USD 1,589 million compared to USD 1,697 million a year ago. Income from operations before income taxes and non-controlling interests was USD 377 million compared to USD 470 million a year ago. Net income was USD 253 million compared to USD 314 million a year ago. Net income attributable to the company was USD 26 million compared to USD 36 million a year ago. Diluted class A earnings per share was USD 0.6487 compared to USD 0.67 a year ago. Diluted class B earnings per share were USD 81 compared to USD 113 a year ago. Net investment income was USD 111 million compared with USD 106 million for the same period last year. For the year, the company reported total revenues of USD 6,124 million compared to USD 6,271 million a year ago. Income from operations before income taxes and non-controlling interests was USD 830 million compared to USD 1,567 million a year ago. Net income was USD 573 million compared to USD 1,048 million a year ago. Net income attributable to the company was USD 168 million compared to USD 163 million a year ago. Diluted class A earnings per share was USD 3.18 compared to USD 3.08 a year ago. Diluted class B earnings per share were USD 538 compared to USD 519 a year ago. Net investment income was USD 446 million compared with USD 422 million for the same period last year. For the fourth quarter of 2014, The company recorded net impairment losses recognized in earnings of USD 3 million compared with USD 3 million for the same period last year.

Erie Indemnity Company to Report Q4, 2014 Results on Feb 26, 2015

Erie Indemnity Company announced that they will report Q4, 2014 results at 5:00 PM, Eastern Standard Time on Feb 26, 2015

Erie Indemnity Company, Q4 2014 Earnings Call, Feb 27, 2015

Erie Indemnity Company, Q4 2014 Earnings Call, Feb 27, 2015

Erie Insurance Opens Training Center at

Erie Insurance cut the ribbon on the company's new Technical Learning Center a hands-on claims training facility that features 14 vehicle bays, a three-story model home made from 400 different building materials, and other training aides. The 52,000-square-foot space will serve as a giant interactive classroom for employees and agents to get an up-close look at property damage sustained to vehicles, homes and businesses. employees, media and invited guests got the first look at the hands-on facility, which features a full-size house with an attic and basement, as well as sprinkler and building material work stations. It also includes vehicle equipment stations with lifts, frame repair stations, wheel alignment machines, and prep and paint booths. The new facility also includes an installation by found-object artist Michelle Stitzlein who recreated the ERIE logo from repurposed automotive and building materials.

Erie Indemnity Company Agrees Increased Regular Quarterly Cash Dividend Payable on January 21, 2015

The Board of Erie Indemnity Company agreed to increase the regular quarterly cash dividend from $0.635 to $0.681 on each Class A share and from $95.25 to $102.15 on each Class B share. This represents a 7.2% increase in the payout per share over the current dividend rate. The next quarterly dividend is payable January 21, 2015, to shareholders of record as of January 6, 2015, with a dividend ex-date of January 2, 2015.

 

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Industry Analysis

ERIE

Industry Average

Valuation ERIE Industry Range
Price/Earnings 27.2x
Price/Sales 0.7x
Price/Book 6.5x
Price/Cash Flow 23.9x
TEV/Sales NM Not Meaningful
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