Benzinga | Oct 29, 2020 04:53PM EDT

Recap: Erie Indemnity Q3 Earnings

Shares of Erie Indemnity (NASDAQ:ERIE) rose 0.56% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share fell 5.00% over the past year to $1.71, which beat the estimate of $1.50.

Revenue of $653,481,000 rose by 2.31% year over year, which beat the estimate of $630,350,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Technicals

52-week high: $239.04

Company's 52-week low was at $130.20

Price action over last quarter: Up 12.40%

Company Description

Erie Indemnity Co primarily performs services on behalf of the Erie Insurance Exchange relating to sales, underwriting, and issuance of policies. Erie Indemnity's results are tied to the performance of the Insurance Exchange, which principally provides automobile and homeowners insurance for individuals, along with multiperil, workers' compensation, and commercial automobile insurance for its commercial clients. Erie Indemnity's management fee is typically 25% of the Exchange's premiums, and this accounts for all of Erie Indemnity's revenue. The company operates exclusively in the United States.