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Erie Indemnity Company
NASDAQ: ERIE Financials Insurance 🔎 Screen
S&P 500
$12.7B
Market Cap
26.8
P/E
2.32
PEG
31.7%
ROCE
26.2%
ROE
0.03
D/E
18.2%
OPM
-21.8%
% from 52W High
38
α RS
🔍 ERIE is showing a high-conviction setup because it matches 14 of 39 tracked screener presets, an ECS of 52.7 last quarter, and it's hugging the 21 EMA. Net: Broad signal stack, not a recommendation. ? Conviction ECS Technicals
Sources
Conviction 14/39 · ECS 52.7 · hugging 21 EMA
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🌏 Global Investor Returns
Currency-adjusted total returns for ERIE including FX impact
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📈 Price History
Ratio Health
Excellent
Good
Average
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By Category
📊 Sector Averages
About

Erie Indemnity Company operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States. It provides issuance and renewal services; sales related services, including agent compensation and sales and advertising support services; underwriting services that include underwriting and policy processing; and other services consist of customer services and administrative support services, as well as information technology services. The company was incorporated in 1925 and is based in Erie, Pennsylvania.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
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⭐ Superinvestors Holding ERIE
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 18.1K $4.6M 0.01% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
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📊 MIXED Erie Indemnity Q1 2026 net income $151M, combined ratio 99.4%
Revenue & Profitability
Net income for Q1 2026 was nearly $151 million ($2.88 per diluted share) compared to $138 million ($2.65 per diluted share) in Q1 2025. Operating income increased approximately 10% to almost $167 million. Management fee revenue grew 4.2% (about $31 million), investment income was $22 million, and direct written premium growth was 3.6%.
Outlook
Management sees a more balanced picture and early signs of turning a corner after a challenging 2025. However, growth remains challenging due to higher premiums impacting customer behavior, and the market is competitive with retention declining to 88%. The company expects continued competitive positioning challenges but aims to build on profitability momentum.
Growth Drivers
Key growth levers include the rollout of Erie Auto Security (expanded to Virginia and West Virginia, with four additional states planned this quarter) and Business Auto 2.0 (now in all but one state, New York). A new online quote platform launched in Ohio will expand to four more states next month, aiming to improve lead conversion and agent connection.
Balance Sheet & CapEx
Not discussed in this earnings call.
Margins
The exchange's combined ratio improved to 99.4% in Q1 2026 from 108.1% in Q1 2025, driven by a 7-point improvement in catastrophe losses and a 3-point improvement in non-catastrophe losses. Commission expense (largest cost) increased 6.4% largely due to agent incentive compensation, while non-commission expenses decreased 5.6%, reflecting net income margin improvement.
Key Risks
Key risks flagged by management include a competitive market with growth challenges due to higher premiums affecting customer retention and policies in force. Weather-related catastrophe losses remain a risk, though Q1 2026 saw more normal levels. The company acknowledges there is more work ahead to restore profitability and balance growth.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-31
Second quarter 2026 saw improved underwriting, higher net income, and strong investment returns. Premium growth moderated, but profitability and surplus increased, supported by new product rollouts and technology investments.
Q1 2026 Q1 2026 2026-04-24
Q1 2026 saw improved profitability with a combined ratio of 99.4% and net income rising to $151 million, despite slower premium growth and lower retention. Technology modernization and AI initiatives advanced, while new products and platforms supported future growth.
Q4 2025 Q4 2025 2026-02-24
Celebrating its centennial, the company improved profitability and capital strength in 2025 despite weather-related challenges and competitive pressures. Net income declined due to a one-time charitable contribution, while operating income and investment returns grew year-over-year.
Q3 2025 Q3 2025 2025-10-31
AM Best downgraded the financial strength rating due to profitability challenges from severe weather and claim severity, but improved Q3 results show progress. Net income and operating income rose year-over-year, and new product rollouts and technology investments aim to drive future growth.
Q2 2025 Q2 2025 2025-08-08
Q2 2025 saw strong premium and income growth, offset by higher catastrophe losses and a major cyber event that was contained without data breach. A $100 million charitable foundation was launched, and the company rose 52 spots on the Fortune 500 list.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
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No Investment Recommendation:
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Information Sources:
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