Erie Indemnity (ERIE)
Market Price (7/10/2026): $247.64 | Market Cap: $12.9 BilSector: Financials | Industry: Insurance Brokers
Erie Indemnity (ERIE)
Market Price (7/10/2026): $247.64Market Cap: $12.9 BilSector: FinancialsIndustry: Insurance Brokers
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.4% Low stock price volatilityVol 12M is 32% Megatrend and thematic driversMegatrends include Insurtech & AI in Insurance. Themes include AI for Fraud Detection, Digital Claims Processing, and AI for Underwriting & Risk Assessment. | Weak multi-year price returns2Y Excs Rtn is -66%, 3Y Excs Rtn is -44% | Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 15.97 Key risksERIE key risks include [1] a potential reduction of its 25% management fee due to the diminishing surplus and operating losses at its sole customer, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.4% |
| Low stock price volatilityVol 12M is 32% |
| Megatrend and thematic driversMegatrends include Insurtech & AI in Insurance. Themes include AI for Fraud Detection, Digital Claims Processing, and AI for Underwriting & Risk Assessment. |
| Weak multi-year price returns2Y Excs Rtn is -66%, 3Y Excs Rtn is -44% |
| Significant short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 15.97 |
| Key risksERIE key risks include [1] a potential reduction of its 25% management fee due to the diminishing surplus and operating losses at its sole customer, Show more. |
Qualitative Assessment
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Erie Indemnity (ERIE) stock has remained largely at the same level since 3/31/2026 because of the following key factors:
1. Mixed Fiscal Q1 2026 Financial Performance Led to Volatility.
Erie Indemnity reported a 9.4% increase in net income to $150.5 million, or $2.88 per diluted share, for fiscal Q1 2026 (ended March 31, 2026), compared to $138.4 million, or $2.65 per diluted share, in fiscal Q1 2025. Operating income before taxes also rose 10.2%. However, the reported EPS of $2.88 missed the consensus estimate of $3.1212 by 7.73%, and revenue of $1.01 billion fell short of the anticipated $1.09 billion. This mixed financial report led to an initial dip of 6.1% in share price on April 23, 2026, but the stock subsequently showed resilience, with shares rising $4.41 in one session despite the miss, indicating investor focus on underlying fundamentals.
2. Slowing Premium Growth and Customer Retention Challenges Limited Upside.
The company experienced a slowdown in premium growth in fiscal Q1 2026, with direct written premiums increasing by only 3.6% compared to 13.9% in 2025. Aggressive price hikes contributed to a 1.7% decline in policy count and a drop in customer retention to 88% from 90.4% in the previous year. This trend challenged Erie Indemnity's commission-driven revenue model, which is based on the volume of written premiums, thus tempering potential stock appreciation and contributing to its stable, rather than upward, movement.
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Erie Indemnity (ERIE) stock has remained largely at the same level since 3/31/2026 because of the following key factors:
1. Mixed Fiscal Q1 2026 Financial Performance Led to Volatility.
Erie Indemnity reported a 9.4% increase in net income to $150.5 million, or $2.88 per diluted share, for fiscal Q1 2026 (ended March 31, 2026), compared to $138.4 million, or $2.65 per diluted share, in fiscal Q1 2025. Operating income before taxes also rose 10.2%. However, the reported EPS of $2.88 missed the consensus estimate of $3.1212 by 7.73%, and revenue of $1.01 billion fell short of the anticipated $1.09 billion. This mixed financial report led to an initial dip of 6.1% in share price on April 23, 2026, but the stock subsequently showed resilience, with shares rising $4.41 in one session despite the miss, indicating investor focus on underlying fundamentals.
2. Slowing Premium Growth and Customer Retention Challenges Limited Upside.
The company experienced a slowdown in premium growth in fiscal Q1 2026, with direct written premiums increasing by only 3.6% compared to 13.9% in 2025. Aggressive price hikes contributed to a 1.7% decline in policy count and a drop in customer retention to 88% from 90.4% in the previous year. This trend challenged Erie Indemnity's commission-driven revenue model, which is based on the volume of written premiums, thus tempering potential stock appreciation and contributing to its stable, rather than upward, movement.
3. Upcoming Executive Leadership Transitions Introduced Uncertainty.
The announced retirements of both Executive Vice President and Chief Financial Officer Julie M. Pelkowski, and CEO Tim NeCastro, by the end of 2026, created significant succession and execution risk. This "historic C-suite exodus" generated skepticism among investors, putting downward pressure on the stock and contributing to its inability to achieve sustained growth during the period.
4. Resilient Fee-Based Business Model and Consistent Dividends Provided Stability.
Erie Indemnity's business model, operating as an attorney-in-fact for the Erie Insurance Exchange, generates stable management fees (capped at 25%) that shield it from direct underwriting losses due to catastrophic events. This stable revenue stream, coupled with a healthy balance sheet, supports a consistent dividend policy. The company offers a dividend yield of 2.44% (as of July 1, 2026), with a sustainable payout ratio of 52%, and a long track record of increasing dividends (7.9% average annual increase over the past decade). This underlying financial strength and investor appeal for income likely provided a floor for the stock, helping it recover from dips and maintain a largely stable overall level.
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Stock Movement Drivers
Fundamental Drivers
The -0.3% change in ERIE stock from 3/31/2026 to 7/9/2026 was primarily driven by a -11.7% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 3312026 | 7092026 | Change |
|---|---|---|---|
| Stock Price ($) | 248.44 | 247.81 | -0.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,149 | 4,164 | 0.4% |
| Net Income Margin (%) | 13.5% | 13.7% | 1.8% |
| P/E Multiple | 20.5 | 22.7 | 10.5% |
| Shares Outstanding (Mil) | 46 | 52 | -11.7% |
| Cumulative Contribution | -0.3% |
Market Drivers
3/31/2026 to 7/9/2026| Return | Correlation | |
|---|---|---|
| ERIE | -0.3% | |
| Market (SPY) | 15.6% | -26.0% |
| Sector (XLF) | 12.5% | 41.4% |
Fundamental Drivers
The -12.1% change in ERIE stock from 12/31/2025 to 7/9/2026 was primarily driven by a -12.0% change in the company's Net Income Margin (%).| (LTM values as of) | 12312025 | 7092026 | Change |
|---|---|---|---|
| Stock Price ($) | 281.91 | 247.81 | -12.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,153 | 4,164 | 0.3% |
| Net Income Margin (%) | 15.6% | 13.7% | -12.0% |
| P/E Multiple | 20.1 | 22.7 | 12.8% |
| Shares Outstanding (Mil) | 46 | 52 | -11.7% |
| Cumulative Contribution | -12.1% |
Market Drivers
12/31/2025 to 7/9/2026| Return | Correlation | |
|---|---|---|
| ERIE | -12.1% | |
| Market (SPY) | 10.5% | -13.2% |
| Sector (XLF) | 1.9% | 38.0% |
Fundamental Drivers
The -26.7% change in ERIE stock from 6/30/2025 to 7/9/2026 was primarily driven by a -21.2% change in the company's P/E Multiple.| (LTM values as of) | 6302025 | 7092026 | Change |
|---|---|---|---|
| Stock Price ($) | 338.24 | 247.81 | -26.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,994 | 4,164 | 4.3% |
| Net Income Margin (%) | 15.4% | 13.7% | -10.8% |
| P/E Multiple | 28.8 | 22.7 | -21.2% |
| Shares Outstanding (Mil) | 52 | 52 | 0.0% |
| Cumulative Contribution | -26.7% |
Market Drivers
6/30/2025 to 7/9/2026| Return | Correlation | |
|---|---|---|
| ERIE | -26.7% | |
| Market (SPY) | 22.7% | -8.8% |
| Sector (XLF) | 7.3% | 35.8% |
Fundamental Drivers
The 24.6% change in ERIE stock from 6/30/2023 to 7/9/2026 was primarily driven by a 35.0% change in the company's Net Income Margin (%).| (LTM values as of) | 6302023 | 7092026 | Change |
|---|---|---|---|
| Stock Price ($) | 198.89 | 247.81 | 24.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 3,110 | 4,164 | 33.9% |
| Net Income Margin (%) | 10.2% | 13.7% | 35.0% |
| P/E Multiple | 32.9 | 22.7 | -31.1% |
| Shares Outstanding (Mil) | 52 | 52 | 0.0% |
| Cumulative Contribution | 24.6% |
Market Drivers
6/30/2023 to 7/9/2026| Return | Correlation | |
|---|---|---|
| ERIE | 24.6% | |
| Market (SPY) | 75.6% | 12.3% |
| Sector (XLF) | 72.2% | 34.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| ERIE Return | -20% | 32% | 37% | 25% | -29% | -11% | 14% |
| Peers Return | 27% | -3% | 7% | 19% | -5% | -1% | 49% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 99% |
Monthly Win Rates [3] | |||||||
| ERIE Win Rate | 25% | 67% | 42% | 42% | 25% | 29% | |
| Peers Win Rate | 65% | 38% | 43% | 58% | 47% | 43% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| ERIE Max Drawdown | -34% | -17% | -20% | -26% | -38% | -28% | |
| Peers Max Drawdown | -16% | -24% | -13% | -10% | -24% | -25% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: WTW, NP, MRSH, AON, AJG.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/9/2026 (YTD)
How Low Can It Go
| Event | ERIE | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -16.6% | -6.7% |
| % Gain to Breakeven | 19.9% | 7.1% |
| Time to Breakeven | 21 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -16.0% | -24.5% |
| % Gain to Breakeven | 19.0% | 32.4% |
| Time to Breakeven | 56 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -16.5% | -33.7% |
| % Gain to Breakeven | 19.8% | 50.9% |
| Time to Breakeven | 5 days | 140 days |
| 2013 Taper Tantrum | ||
| % Loss | -13.9% | -0.2% |
| % Gain to Breakeven | 16.2% | 0.2% |
| Time to Breakeven | 150 days | 1 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -15.6% | -17.9% |
| % Gain to Breakeven | 18.5% | 21.8% |
| Time to Breakeven | 63 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -43.8% | -53.4% |
| % Gain to Breakeven | 77.9% | 114.4% |
| Time to Breakeven | 495 days | 1085 days |
In The Past
Erie Indemnity's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
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| Event | ERIE | S&P 500 |
|---|---|---|
| 2008-2009 Global Financial Crisis | ||
| % Loss | -43.8% | -53.4% |
| % Gain to Breakeven | 77.9% | 114.4% |
| Time to Breakeven | 495 days | 1085 days |
In The Past
Erie Indemnity's stock fell 0.0% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 0.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Erie Indemnity (ERIE)
Erie Indemnity Company (ERIE) operates as the managing attorney-in-fact for the Erie Insurance Exchange. In this distinctive role, the company is responsible for the comprehensive operational management of the Exchange, essentially overseeing the entire process of providing insurance to policyholders. ERIE provides the crucial infrastructure and services that enable the Erie Insurance Exchange to function effectively, managing the business on behalf of its subscribers.
The company offers a broad spectrum of services essential for running an insurance enterprise. These include sales-related services, such as agent compensation and sales and advertising support, alongside core underwriting and policy processing functions. Erie Indemnity also handles policy issuance and renewal services, customer support, administrative services, and information technology services. Its primary customers are the policyholders and subscribers of the Erie Insurance Exchange, for whom it manages all aspects of their insurance experience.
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1. The ADP for insurance company operations.
2. A Conduent for an insurance exchange.
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- Managing Attorney-in-Fact Services: Oversees and manages the operations and affairs for the subscribers at the Erie Insurance Exchange.
- Sales & Marketing Support Services: Provides agent compensation, sales, and advertising support services for insurance product distribution.
- Underwriting & Policy Processing Services: Manages the underwriting process and policy issuance and renewal for insurance policies.
- Customer & Administrative Support Services: Offers customer service and general administrative support for the insurance exchange's operations.
- Information Technology Services: Provides information technology infrastructure and support crucial for the exchange's operations.
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Erie Indemnity (ERIE) primarily sells its services to **Erie Insurance Exchange**.
Erie Indemnity operates as the managing attorney-in-fact for the subscribers at the Erie Insurance Exchange. In this capacity, Erie Indemnity provides a comprehensive suite of services to the Exchange, including sales, underwriting, policy issuance, renewal services, agent compensation, sales and advertising support, underwriting and policy processing, customer services, administrative support, and information technology services. The Erie Insurance Exchange is not a publicly traded company and therefore does not have a stock symbol.
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Timothy G. Necastro, President and Chief Executive Officer
Timothy G. Necastro has served as the President and Chief Executive Officer of Erie Indemnity since August 2016. He is scheduled to retire on December 31, 2026, marking the end of a 30-year career with the company, including a decade as CEO. Prior to his current role, Mr. Necastro held positions as President, CEO, and Director at Erie Family Life Insurance Co., Erie Insurance Co., and Erie Insurance Exchange (Investment Portfolio). He also worked as Finance Director at Plastek Group and as Senior Manager at Ernst & Young LLP. He earned his undergraduate degree from Gannon University.
Julie Marie Pelkowski, Executive Vice President and Chief Financial Officer
Julie Marie Pelkowski was appointed Executive Vice President and Chief Financial Officer, effective May 1, 2023, succeeding Greg Gutting. She joined Erie in 1998 as an internal auditor. Before her role as CFO, she served as Senior Vice President and Controller and was a co-lead for Erie's Destination 2025 corporate strategy program. Her career at Erie also includes positions as Financial Reporting Supervisor and Vice President, Financial Reporting. Ms. Pelkowski began her financial career in 1991 with Deloitte & Touche. She is a Certified Public Accountant (CPA) and holds a bachelor's degree in accounting from Clarion University of Pennsylvania.
Parthasarathy Srinivasa, Executive Vice President and Chief Information Officer
Parthasarathy Srinivasa is the Executive Vice President and Chief Information Officer of Erie Indemnity.
Douglas E. Smith, Executive Vice President, Sales and Products
Douglas E. Smith serves as the Executive Vice President, Sales and Products for Erie Indemnity.
Sean D. Dugan, Executive Vice President, Human Resources and Corporate Services
Sean D. Dugan is the Executive Vice President, Human Resources and Corporate Services. He was promoted to this role in December 2022.
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The key risks to Erie Indemnity (ERIE) primarily stem from its unique business model as a managing attorney-in-fact for the Erie Insurance Exchange.
- Heavy Dependence on Erie Insurance Exchange: Erie Indemnity's business model is fundamentally tied to the performance and growth of the Erie Insurance Exchange, which serves as its sole customer and primary source of revenue. The company earns management fees based on premiums written by the Exchange. Consequently, any adverse impact on the Exchange's growth, financial condition, underwriting appetite, product strategy, or ability to renew policies could significantly affect Erie Indemnity's financial results. This dependence limits Erie Indemnity's strategic flexibility and creates a concentration of business risk.
- Potential for Reduction in Management Fees and Related Litigation: The sustainability of the management fees Erie Indemnity charges the Exchange is a significant concern. Historically, the management fee can be up to 25% of premiums, and there have been instances where the fee was reduced. The Exchange's financial performance, particularly its underwriting losses and diminishing surplus, could lead to pressure to reduce these fees. Furthermore, Erie Indemnity has faced policyholder lawsuits challenging its management fee practices and alleging breaches of fiduciary duty, highlighting ongoing scrutiny of this revenue stream. A reduction in the management fee rate would directly impact Erie Indemnity's profitability.
- Competitive Market Landscape and Macroeconomic Headwinds Affecting the Exchange: While Erie Indemnity itself does not directly compete as a traditional insurer, the Erie Insurance Exchange operates in a highly competitive property and casualty insurance market. The Exchange faces competition from large national companies, regional insurers, and direct-to-consumer models. Intense competition, aggressive pricing, product innovation, and macroeconomic factors such as inflation, high unemployment, or recession can affect the Exchange's ability to attract and retain customers, thus impacting its premium growth. Additionally, the broader P&C insurance industry is susceptible to increasing frequency and severity of catastrophe losses due to climate change, and "social inflation" (rising litigation costs and larger jury awards), which indirectly pressure the Exchange's underwriting performance and, in turn, Erie Indemnity's fee revenue.
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- The proliferation of direct-to-consumer and digital-first insurance providers (e.g., Geico, Lemonade, Root Insurance) is challenging the traditional agency-based distribution model. As Erie Indemnity provides sales support, agent compensation, and advertising services for the Erie Insurance Exchange, a significant shift in market share towards direct insurers could reduce the demand for these services or put pressure on the exchange's business model, indirectly impacting ERIE.
- Rapid advancements in Insurtech and artificial intelligence (AI) are enabling the automation and streamlining of core insurance functions, including underwriting, policy processing, and customer service. Since Erie Indemnity provides these exact services (underwriting and policy processing, customer services, and information technology services), these technological developments pose a threat by potentially making traditional, human-intensive processes less competitive or by allowing insurers to perform these functions more efficiently in-house or through specialized tech providers.
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Erie Indemnity (ERIE) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- Growth in Direct Written Premiums and Policies In Force: Erie Indemnity's revenue is directly tied to the premium volume and policy growth of the Erie Insurance Exchange, from which it earns a 25% management fee. Direct written premiums for the Exchange grew by approximately 5% in the fourth quarter of 2025 and nearly 9% for the full year 2025, primarily due to prior rate actions. In Q1 2024, direct and assumed written premiums increased by 19%, with new business premiums growing by 32.4% and total policies in force increasing by 7.1%.
- Strategic Rate Actions and Price Increases: The company has demonstrated a focus on implementing rate increases, which have contributed to an increase in the average premium per policy. This strategy is reflected in the 9.6% increase in average premium per policy for the year 2025, driven by realized rate actions. Management anticipated a larger impact from these rate increases in 2024 and continued to see incremental improvement in profitability from them in Q1 2024.
- Expansion of Product Lines and Market Penetration: Erie Indemnity is concentrating on organic growth, including deepening its market penetration within existing operational areas and expanding its product lines, particularly in commercial insurance. This diversification aims to cater to a broader range of business needs and broaden revenue streams.
- Investment in Technology and New Product Rollouts: The company is investing in technology and launching new products to enhance its offerings and competitiveness. The "ErieSecure Auto" product, initially piloted in Ohio and scheduled for broader deployment in states like Pennsylvania, West Virginia, and Virginia by mid-2026, is aimed at improving growth and pricing competitiveness. Additionally, technology modernization initiatives, such as the rollout of Business Auto 2.0 with enhanced processing and features, are expected to be fully implemented by Q3 2025.
- Strengthening the Independent Agent Network: Erie Indemnity's strategy includes continuous investment in and support of its independent agent network, recognizing it as a significant competitive advantage. This approach helps to reach new customers and expand policyholder numbers. Growth in agent compensation, driven by base commission increases and higher incentive compensation linked to profitability, further supports this network.
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Share Repurchases
- Erie Indemnity reported $0.00 in share buybacks as of December 31, 2025, and February 2026.
- The company engages in the purchase of treasury stock to satisfy stock-based compensation awards.
Share Issuance
- Erie Indemnity's shares outstanding saw minor fluctuations between 2021 and 2024, with 0.052 billion shares outstanding in 2024, a 0.01% increase from 2023.
Outbound Investments
- In 2025, Erie Strategic Ventures made investments in Atomic and Feathery.
Capital Expenditures
- Cash is primarily used to fund management operations, including the purchase and development of information technology, and other capital expenditures.
- The company is focused on the rollout of its Erie Secure Auto product across new states to enhance its competitive position and improve customer acquisition.
- Non-commission expenses in 2025 increased, driven in part by higher information technology costs.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 250.78 |
| Mkt Cap | 46.4 |
| Rev LTM | 12,435 |
| Op Inc LTM | 2,727 |
| FCF LTM | 1,862 |
| FCF 3Y Avg | 2,633 |
| CFO LTM | 2,015 |
| CFO 3Y Avg | 2,835 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 6.9% |
| Rev Chg 3Y Avg | 10.3% |
| Rev Chg Q | 8.0% |
| QoQ Delta Rev Chg LTM | 2.0% |
| Op Inc Chg LTM | 8.9% |
| Op Inc Chg 3Y Avg | 10.5% |
| Op Mgn LTM | 23.4% |
| Op Mgn 3Y Avg | 22.3% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 19.0% |
| CFO/Rev 3Y Avg | 18.9% |
| FCF/Rev LTM | 17.9% |
| FCF/Rev 3Y Avg | 17.6% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Management fee revenue - policy issuance and renewal services | 3,132 | 2,894 | 2,442 | 2,088 | 1,913 |
| Administrative services reimbursement revenue | 837 | 806 | 737 | 668 | 638 |
| Management fee revenue - administrative services | 74 | 68 | 64 | 58 | 58 |
| Total | 4,043 | 3,769 | 3,243 | 2,814 | 2,610 |
| $ Mil | 2014 | 2013 | 2012 | 2011 | 2010 |
|---|---|---|---|---|---|
| Investment Operations | 764 | 1,353 | 998 | 587 | 857 |
| Management Operations | 223 | 209 | 205 | 208 | 202 |
| Life Insurance Operations | -56 | -63 | -58 | -59 | -57 |
| Property/Casualty Insurance Operation | -101 | 68 | -246 | -378 | -3 |
| Total | 830 | 1,567 | 899 | 358 | 999 |
| $ Mil | 2014 | 2012 | 2011 | 2009 |
|---|---|---|---|---|
| Investment Operations | 462 | 449 | 444 | 42 |
| Eliminations | -16 | -11 | -11 | |
| Total | 446 | 438 | 433 | 42 |
| $ Mil | 1998 |
|---|---|
| Property/Casualty Insurance Operation | 747 |
| Management Operations | 667 |
| Life Insurance Operations | 40 |
| Total | 1,454 |
Price Behavior
| Market Price | $247.81 | |
| Market Cap ($ Bil) | 13.0 | |
| First Trading Date | 10/02/1995 | |
| Distance from 52W High | -31.4% | |
| 50 Days | 200 Days | |
| DMA Price | $223.99 | $263.91 |
| DMA Trend | down | down |
| Distance from DMA | 10.6% | -6.1% |
| 3M | 1YR | |
| Volatility | 39.3% | 32.1% |
| Downside Capture | -129.87 | -16.57 |
| Upside Capture | -89.74 | -48.93 |
| Correlation (SPY) | -30.9% | -9.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.91 | -0.89 | -0.51 | -0.29 | -0.19 | 0.26 |
| Up Beta | -0.99 | -0.83 | 0.23 | 0.46 | 0.37 | 0.58 |
| Down Beta | -0.96 | -0.79 | -1.15 | -0.43 | -0.54 | 0.08 |
| Up Capture | -17% | -42% | -42% | -46% | -23% | 4% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 11 | 19 | 28 | 57 | 124 | 400 |
| Down Capture | -155% | -157% | -110% | -49% | -10% | 28% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 10 | 22 | 35 | 68 | 128 | 351 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ERIE | |
|---|---|---|---|---|
| ERIE | -25.9% | 32.1% | -0.90 | - |
| Sector ETF (XLF) | 7.7% | 14.8% | 0.29 | 35.5% |
| Equity (SPY) | 22.3% | 12.5% | 1.33 | -9.1% |
| Gold (GLD) | 24.4% | 27.8% | 0.77 | -17.9% |
| Commodities (DBC) | 23.6% | 18.7% | 1.00 | -17.9% |
| Real Estate (VNQ) | 13.2% | 13.9% | 0.65 | 34.2% |
| Bitcoin (BTCUSD) | -42.8% | 42.8% | -1.18 | -2.8% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ERIE | |
|---|---|---|---|---|
| ERIE | 7.2% | 29.7% | 0.26 | - |
| Sector ETF (XLF) | 10.5% | 18.6% | 0.43 | 38.0% |
| Equity (SPY) | 13.4% | 17.1% | 0.61 | 26.6% |
| Gold (GLD) | 18.0% | 18.3% | 0.80 | -5.6% |
| Commodities (DBC) | 7.5% | 19.5% | 0.28 | 0.2% |
| Real Estate (VNQ) | 2.9% | 18.9% | 0.06 | 32.1% |
| Bitcoin (BTCUSD) | 12.3% | 53.5% | 0.42 | 9.5% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with ERIE | |
|---|---|---|---|---|
| ERIE | 12.3% | 29.3% | 0.45 | - |
| Sector ETF (XLF) | 14.1% | 22.1% | 0.58 | 38.6% |
| Equity (SPY) | 15.8% | 17.9% | 0.75 | 35.1% |
| Gold (GLD) | 11.7% | 16.1% | 0.59 | -1.6% |
| Commodities (DBC) | 6.1% | 18.0% | 0.27 | 4.8% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.22 | 34.1% |
| Bitcoin (BTCUSD) | 58.0% | 66.2% | 0.98 | 8.4% |
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Returns Analyses
Earnings Returns History
Updated 6/3/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/23/2026 | -6.1% | -12.0% | -9.9% |
| 2/23/2026 | -2.6% | 1.1% | -8.8% |
| 10/30/2025 | -5.5% | -9.1% | -4.4% |
| 8/7/2025 | 1.3% | 4.4% | -4.6% |
| 4/24/2025 | -11.5% | -14.1% | -14.7% |
| 2/27/2025 | 5.7% | 11.1% | 1.4% |
| 10/31/2024 | -7.5% | -5.4% | -2.6% |
| 7/25/2024 | 8.7% | 13.5% | 26.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 15 | 9 |
| # Negative | 14 | 9 | 15 |
| Median Positive | 4.3% | 4.4% | 10.8% |
| Median Negative | -2.7% | -5.4% | -4.5% |
| Max Positive | 9.9% | 28.2% | 34.7% |
| Max Negative | -11.5% | -14.1% | -14.7% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 4/23/2026 | -6.1% | -12.0% | -9.9% |
| 2/23/2026 | -2.6% | 1.1% | -8.8% |
| 10/30/2025 | -5.5% | -9.1% | -4.4% |
| 8/7/2025 | 1.3% | 4.4% | -4.6% |
| 4/24/2025 | -11.5% | -14.1% | -14.7% |
| 2/27/2025 | 5.7% | 11.1% | 1.4% |
| 10/31/2024 | -7.5% | -5.4% | -2.6% |
| 7/25/2024 | 8.7% | 13.5% | 26.3% |
| 4/25/2024 | 0.4% | 1.2% | 2.3% |
| 2/26/2024 | 9.9% | 16.3% | 14.6% |
| 10/26/2023 | -6.4% | -4.7% | 0.3% |
| 7/27/2023 | 5.0% | 28.2% | 34.7% |
| 4/27/2023 | -1.5% | 1.9% | -0.8% |
| 3/1/2023 | -0.8% | 0.4% | -3.1% |
| 10/27/2022 | 4.5% | 10.1% | 10.8% |
| 7/28/2022 | 4.2% | 8.4% | 11.5% |
| 4/28/2022 | -4.9% | 0.8% | -0.8% |
| 2/24/2022 | -1.9% | -4.7% | -1.4% |
| 10/28/2021 | 2.8% | 8.9% | 2.0% |
| 7/29/2021 | -0.3% | -1.1% | -5.7% |
| 4/29/2021 | -2.9% | -4.9% | -8.7% |
| 2/25/2021 | -1.5% | -7.1% | -9.3% |
| 10/29/2020 | -1.4% | 1.1% | -4.5% |
| 7/30/2020 | 0.4% | 3.7% | -0.8% |
| SUMMARY STATS | |||
| # Positive | 10 | 15 | 9 |
| # Negative | 14 | 9 | 15 |
| Median Positive | 4.3% | 4.4% | 10.8% |
| Median Negative | -2.7% | -5.4% | -4.5% |
| Max Positive | 9.9% | 28.2% | 34.7% |
| Max Negative | -11.5% | -14.1% | -14.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/23/2026 | 10-Q |
| 12/31/2025 | 02/23/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 04/25/2024 | 10-Q |
| 12/31/2023 | 02/26/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| 06/30/2022 | 07/28/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/23/2026 | 10-Q |
| 12/31/2025 | 02/23/2026 | 10-K |
| 09/30/2025 | 10/30/2025 | 10-Q |
| 06/30/2025 | 08/07/2025 | 10-Q |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 02/27/2025 | 10-K |
| 09/30/2024 | 10/31/2024 | 10-Q |
| 06/30/2024 | 07/25/2024 | 10-Q |
| 03/31/2024 | 04/25/2024 | 10-Q |
| 12/31/2023 | 02/26/2024 | 10-K |
| 09/30/2023 | 10/26/2023 | 10-Q |
| 06/30/2023 | 07/27/2023 | 10-Q |
| 03/31/2023 | 04/27/2023 | 10-Q |
| 12/31/2022 | 03/01/2023 | 10-K |
| 09/30/2022 | 10/27/2022 | 10-Q |
| 06/30/2022 | 07/28/2022 | 10-Q |
| 03/31/2022 | 04/28/2022 | 10-Q |
| 12/31/2021 | 02/24/2022 | 10-K |
| 09/30/2021 | 10/28/2021 | 10-Q |
| 06/30/2021 | 07/29/2021 | 10-Q |
| 03/31/2021 | 04/29/2021 | 10-Q |
| 12/31/2020 | 02/25/2021 | 10-K |
| 09/30/2020 | 10/29/2020 | 10-Q |
| 06/30/2020 | 07/31/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 02/27/2020 | 10-K |
| 09/30/2019 | 10/25/2019 | 10-Q |
| 06/30/2019 | 07/25/2019 | 10-Q |
Insider Activity
Updated 6/8/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Vorsheck, Elizabeth A | Elizabeth Vorsheck Trustee Elizabeth Vorsheck Revocable Trust U/A DTD 05/03/99 | Buy | 6042026 | 211.17 | 3,000 | 633,500 | 56,398,604 | Form | |
| 2 | Vorsheck, Elizabeth A | VEIC Limited Partnership | Buy | 6042026 | 200.00 | 4,000 | 800,000 | 600,800,000 | Form | |
| 3 | Dabreo, Anthony | Senior Vice President, Life | Direct | Sell | 5132026 | 217.10 | 465 | 100,952 | 197,356 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Vorsheck, Elizabeth A | Elizabeth Vorsheck Trustee Elizabeth Vorsheck Revocable Trust U/A DTD 05/03/99 | Buy | 6042026 | 211.17 | 3,000 | 633,500 | 56,398,604 | Form | |
| 2 | Vorsheck, Elizabeth A | VEIC Limited Partnership | Buy | 6042026 | 200.00 | 4,000 | 800,000 | 600,800,000 | Form | |
| 3 | Dabreo, Anthony | Senior Vice President, Life | Direct | Sell | 5132026 | 217.10 | 465 | 100,952 | 197,356 | Form |
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