Erie Indemnity
Manages policy issuance, renewals and administration for Erie Insurance Exchange.
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Profile
Provides policy sales, underwriting, issuance, renewal, claims, life-insurance and investment-management services for Erie Insurance Exchange and its subsidiaries. Earnings come largely from a board-set fee tied to Exchange premiums, making the reciprocal insurer its sole customer.
Serves as attorney-in-fact and management company for Erie Insurance Exchange, a reciprocal property-and-casualty insurer. Policy issuance and renewal services span agent compensation, sales support, underwriting, policy processing, customer service and technology, while administrative work covers claims, life-insurance operations and investment management for the Exchange and its insurance subsidiaries.
Pairs centralized support with local marketing and claims service through independent agencies across regional U.S. markets. The Exchange writes the policies; the listed company manages their sale, issuance, renewal and administration.
Earnings come largely from a management fee based on premiums written by the Exchange, with the board setting the rate annually within subscriber-agreement limits. The Exchange is its sole customer, independent agencies are its sole distribution channel, and state regulators oversee material intercompany service agreements.
Company facts
Key statistics
Year to date −6.3% · Average volume (30d) 252.6K
Analysts
No analyst consensus on record.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $3.35 | $3.45 | +3.0% | $1.09B | $1.09B | +0.1% | +3.58% |
| Apr 23, 2026Q1 FY26 | $3.06 | $2.88 | −5.9% | $1.09B | $1.01B | −7.0% | −6.14% |
| Feb 23, 2026Q4 FY25 | $1.59 | −$0.33 | −120.8% | $975.6M | $951.0M | −2.5% | −2.56% |
| Oct 30, 2025Q3 FY25 | $3.37 | $3.50 | +3.9% | $975.6M | $1.30B | +33.7% | −5.49% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $989.4M | $1.06B | $1.07B | $951.2M | $1.01B | $1.09B | |
| Gross profit | $151.4M | $182.7M | $191.2M | $138.7M | $146.9M | $204.1M | |
| Operating income | $151.4M | $199.7M | $210.3M | $157.7M | $166.0M | $204.1M | |
| Net income | $138.4M | $174.7M | $182.9M | $63.4M | $150.5M | $180.3M | |
| Diluted EPS | $2.65 | $3.34 | $3.47 | $1.20 | $2.86 | $3.45 | |
| Gross margin | 15.3% | 17.2% | 17.9% | 14.6% | 14.5% | 18.7% | |
| Operating margin | 15.3% | 18.8% | 19.7% | 16.6% | 16.4% | 18.7% |
Fiscal years (4-quarter sums)FY21 $2.63B · FY22 $2.84B · FY23 $3.27B · FY24 $3.80B · FY25 $4.07B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $344.6M · Total debt $63.2M · Total assets $3.56B · Shareholders' equity $2.47B
Dividends
Raised for 29 straight years — most recently to $1.4625 from $1.365 in Jan 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jul 7, 2026 | Jul 7 | Jul 21 | $1.4625 | |
| Apr 7, 2026 | Apr 7 | Apr 21 | $1.4625 | |
| Jan 6, 2026 | Jan 6 | Jan 21 | $1.4625 | raised from $1.365 |
| Oct 6, 2025 | Oct 6 | Oct 21 | $1.365 | |
| Jul 8, 2025 | Jul 8 | Jul 22 | $1.365 | |
| Apr 7, 2025 | Apr 7 | Apr 22 | $1.365 | |
| Jan 7, 2025 | Jan 7 | Jan 22 | $1.365 | raised from $1.275 |
| Oct 7, 2024 | Oct 7 | Oct 22 | $1.275 |
Ownership
Shares outstanding 46.19M · Float 24.90M · 53.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| PNC Financial Services Group, Inc. | 4.83M | 10.45% | 13F | Aug 7, 2026 |
| BlackRock, Inc. | 1.67M | 3.63% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 1.64M | 3.54% | 13F | Aug 13, 2026 |
| State Street Corp | 1.44M | 3.11% | 13F | Aug 7, 2026 |
| Vanguard Portfolio Management LLC | 1.11M | 2.41% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 2, 2026 | Elizabeth A. Vorsheck | director, 10 percent owner: | +7,000 | $204.79 |
| May 8, 2026 | Anthony DaBreo | officer: Senior Vice President, Life | −465 | $217.10 |
Peers
- Progressive
Auto/home scale, UBI, agency/direct reach, and commercial auto overlap
- Allstate
National auto/home scale across agency and direct channels
- Travelers
Broad P&C carrier across auto, home, business and agency channels
- Cincinnati Financial
Independent-agent P&C overlap in business, home, and auto
- The Hartford
Commercial and AARP personal-lines overlap with ERIE
- Selective Insurance Group
Regional independent-agent P&C overlap in commercial and personal lines
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Erie Indemnity | $260.40 | +0.01% | $12.03B | 23.7 | — | 2.9 | +2.8% |
| Progressive | $217.33 | −0.61% | $127.12B | 11.0 | 13.3 | 1.4 | −4.2% |
| Allstate | $260.58 | −0.03% | $67.08B | 5.2 | 9.2 | 1.0 | −7.2% |
| Travelers | $372.15 | +0.62% | $77.15B | 9.9 | 12.4 | 1.6 | −4.8% |
| Cincinnati Financial | $171.97 | 0.00% | $26.39B | 8.1 | 19.6 | 1.9 | −18.9% |
| The Hartford | $137.85 | −0.49% | $37.98B | 9.0 | 10.6 | 1.3 | +4.0% |
| Selective Insurance Group | $92.46 | −0.08% | $5.51B | 11.5 | 10.9 | 1.0 | −8.0% |
| Median | 9.5 | 11.6 | 1.4 | −6.0% |