Docoh
Loading...

ERIE Erie Indemnity

Erie Indemnity Company is the management company for the Erie Insurance Exchange. The Company is also involved in the property and casualty insurance business through its wholly-owned subsidiaries and through its management of Flagship City Insurance Company.

Company profile

ERIE stock data

(
)

Calendar

29 Jul 21
2 Aug 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 156.04M 156.04M 156.04M 156.04M 156.04M 156.04M
Cash burn (monthly) (positive/no burn) 8.48M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) n/a 9.48M n/a n/a n/a n/a
Cash remaining n/a 146.56M n/a n/a n/a n/a
Runway (months of cash) n/a 17.3 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
20 Jul 21 Borneman J Ralph JR Directors' Deferred Compensation Share Credits Class A Common Stock Other Aquire J No No 184.55 98.986 18.27K 17,463.048
20 Jul 21 Connell Eugene C Directors' Deferred Compensation Share Credits Class A Common Stock Other Aquire J No No 184.55 11.766 2.17K 1,823.908
20 Jul 21 Correnti Salvatore Directors' Deferred Compensation Share Credits Class A Common Stock Other Aquire J No No 184.55 8.785 1.62K 1,289.296
20 Jul 21 Datesh LuAnn Directors' Deferred Compensation Share Credits Class A Common Stock Other Aquire J No No 184.55 15.84 2.92K 2,554.303
20 Jul 21 Hagen Jonathan Hirt Directors' Deferred Compensation Share Credits Class A Common Stock Other Aquire J No No 184.55 81.463 15.03K 14,321.252

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

36.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 226 222 +1.8%
Opened positions 28 30 -6.7%
Closed positions 24 37 -35.1%
Increased positions 76 83 -8.4%
Reduced positions 80 71 +12.7%
13F shares
Current Prev Q Change
Total value 3.73B 5.6B -33.3%
Total shares 16.9M 16.75M +0.9%
Total puts 0 0
Total calls 2.5K 1.1K +127.3%
Total put/call ratio
Largest owners
Shares Value Change
PNC PNC Financial Services 4.92M $1.09B -0.5%
Vanguard 2.6M $575.37M -0.4%
BLK Blackrock 1.8M $398.5M +0.3%
BEN Franklin Resources 1.12M $246.77M -1.3%
STT State Street 640.51K $141.49M -2.4%
Geode Capital Management 422.77K $93.42M +7.1%
Wellington Management 407.71K $90.07M -15.9%
APG Asset Management 326.26K $72.08M -9.0%
First Trust Advisors 276.83K $61.16M +16.6%
Dimensional Fund Advisors 251.59K $55.58M +3.8%
Largest transactions
Shares Bought/sold Change
AUB Atlantic Union Bankshares 0 -143.03K EXIT
Columbia Asset Management 145.52K +112.19K +336.6%
BMO Bank of Montreal 112.74K +109.98K +3978.8%
California Public Employees Retirement System 111.91K -94.5K -45.8%
Wellington Management 407.71K -76.8K -15.9%
Martingale Asset Management L P 125.2K +67.31K +116.3%
Millennium Management 65.45K +65.45K NEW
CS Credit Suisse 128.99K +61.33K +90.6%
First Trust Advisors 276.83K +39.41K +16.6%
JPM JPMorgan Chase & Co. 68.04K +38.49K +130.3%

Financial report summary

?
Management Discussion
  • We have two performance obligations in the subscriber’s agreement, providing policy issuance and renewal services and acting as attorney-in-fact for the Exchange, as well as the service provider for its insurance subsidiaries, with respect to all administrative services. We earn management fees for acting as the attorney-in-fact for the subscribers at the Exchange in these two capacities. Our revenues are allocated between the two performance obligations.
  • The management fee is calculated by multiplying all direct and affiliated assumed premiums written by the Exchange by the management fee rate, which is determined by our Board of Directors at least annually.  The management fee rate was set at 25%, the maximum rate, for 2020, 2019 and 2018.  Changes in the management fee rate can affect our revenue and net income significantly. The transaction price for management fee revenue and administrative service reimbursement revenue is allocated based on the estimated standalone selling prices developed using industry information and other available information for similar services. We update the transaction price allocation annually based upon the most recent information available or more frequently if there have been significant changes in any components considered in the transaction price. In 2020, we reviewed the transaction price allocation quarterly to consider the most current economic conditions related to the COVID-19 pandemic. The reviews resulted in no material change to the allocation.
  • (1)    Management fees are returned to the Exchange when policies are cancelled mid-term and unearned premiums are refunded.  We record an estimated allowance for management fees returned on mid-term policy cancellations. This estimated allowance has been allocated between the two performance obligations consistent with the revenue allocation proportion. The potential for a greater number of mid-term cancellations as a result of the COVID-19 pandemic was taken into consideration in the determination of this allowance in 2020.
Content analysis
?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: constraint, depreciation, inflationary, substantive, worsen
Removed: account, ad, Added, affirming, Ahlmann, allege, alleged, allegedly, alternatively, Anita, answer, appeal, appealable, appealed, appellate, applicable, applied, April, argument, arise, August, avoid, awarding, Baily, banc, barred, beginning, Beltz, Black, Borneman, breach, breached, bring, cancellation, captioned, case, Cavanaugh, certify, certifying, Circuit, Civil, clarifying, classified, Claude, cognizable, collectability, compensatory, competence, competency, complaint, complied, conference, consistent, constituted, constrain, continuing, Cooney, counsel, County, court, Covenant, created, Datesh, Dealing, DeBord, decide, decision, declaratory, declaring, defendant, denied, denying, derivative, derivatively, developing, directing, dishonored, dismissal, dismissed, dismissing, District, Division, duty, Edmund, Elizabeth, en, Enforce, enjoining, enrichment, entirety, equitable, essentially, evidentiary, exacerbated, expedite, experienced, fail, failure, Faith, Fayette, feasible, fiduciary, file, final, found, full, fundamental, George, Goldman, Good, Gorder, govern, granted, granting, greater, Gwendolyn, Hagen, Harry, Hartz, hearing, Henry, Hirt, holding, II, III, implicate, Implied, improper, improperly, individual, initially, instructed, intent, intervene, issue, Jan, Jeffrey, Jenna, John, join, jointly, Jonathan, Joseph, Jr, Judge, jurisdiction, Kaj, Katz, King, labeled, lacked, lawsuit, legally, lifted, light, Lilly, Lippert, litem, LuAnn, Lucian, Lucore, Ludrof, Martin, Mehl, monetary, moot, Morrison, motion, Nassau, Nominal, noted, notice, November, number, opposing, opposition, oral, order, Palmer, Patricia, performed, permission, permit, permitting, petition, plaintiff, prejudice, preliminary, Procedure, proceed, properly, proportion, punitive, purport, Ralph, realizable, reconsideration, referral, referring, rehearing, relief, reply, request, requested, reserved, retained, retaining, revised, Richard, Robert, ruled, ruling, Samuel, Schofield, Scott, seeking, separate, September, Seth, Sheffield, similarly, situate, situated, sought, stay, stayed, stipulated, Stover, submitted, sue, suit, Sullivan, Supreme, Susan, Terrence, trial, unjust, unlawful, vacating, Van, Verified, voluntarily, Vorsheck, Weil, Western, Wilburn, Wilson