Tearsheet

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.4%

Low stock price volatility
Vol 12M is 32%

Megatrend and thematic drivers
Megatrends include Insurtech & AI in Insurance. Themes include AI for Fraud Detection, Digital Claims Processing, and AI for Underwriting & Risk Assessment.

Weak multi-year price returns
2Y Excs Rtn is -66%, 3Y Excs Rtn is -44%

Significant short interest
Short 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 risks
ERIE 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.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.4%
1 Low stock price volatility
Vol 12M is 32%
2 Megatrend and thematic drivers
Megatrends include Insurtech & AI in Insurance. Themes include AI for Fraud Detection, Digital Claims Processing, and AI for Underwriting & Risk Assessment.
3 Weak multi-year price returns
2Y Excs Rtn is -66%, 3Y Excs Rtn is -44%
4 Significant short interest
Short 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
5 Key risks
ERIE 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.

ERIE in ETFs

Weight = ERIE's share of each fund

SPY0.01%
VOO0.01%
IVV0.01%
VTI0.01%
ITOT0.01%
RSP0.21%
SCHD0.17%
VIG0.02%
+24 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 7/1/2026

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.

Show more
Updated on 7/1/2026

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)33120267092026Change
Stock Price ($)248.44247.81-0.3%
Change Contribution By: 
Total Revenues ($ Mil)4,1494,1640.4%
Net Income Margin (%)13.5%13.7%1.8%
P/E Multiple20.522.710.5%
Shares Outstanding (Mil)4652-11.7%
Cumulative Contribution-0.3%

LTM = Last Twelve Months as of date shown

Market Drivers

3/31/2026 to 7/9/2026
ReturnCorrelation
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)123120257092026Change
Stock Price ($)281.91247.81-12.1%
Change Contribution By: 
Total Revenues ($ Mil)4,1534,1640.3%
Net Income Margin (%)15.6%13.7%-12.0%
P/E Multiple20.122.712.8%
Shares Outstanding (Mil)4652-11.7%
Cumulative Contribution-12.1%

LTM = Last Twelve Months as of date shown

Market Drivers

12/31/2025 to 7/9/2026
ReturnCorrelation
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)63020257092026Change
Stock Price ($)338.24247.81-26.7%
Change Contribution By: 
Total Revenues ($ Mil)3,9944,1644.3%
Net Income Margin (%)15.4%13.7%-10.8%
P/E Multiple28.822.7-21.2%
Shares Outstanding (Mil)52520.0%
Cumulative Contribution-26.7%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2025 to 7/9/2026
ReturnCorrelation
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)63020237092026Change
Stock Price ($)198.89247.8124.6%
Change Contribution By: 
Total Revenues ($ Mil)3,1104,16433.9%
Net Income Margin (%)10.2%13.7%35.0%
P/E Multiple32.922.7-31.1%
Shares Outstanding (Mil)52520.0%
Cumulative Contribution24.6%

LTM = Last Twelve Months as of date shown

Market Drivers

6/30/2023 to 7/9/2026
ReturnCorrelation
ERIE24.6% 
Market (SPY)75.6%12.3%
Sector (XLF)72.2%34.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
ERIE Return-20%32%37%25%-29%-11%14%
Peers Return27%-3%7%19%-5%-1%49%
S&P 500 Return27%-19%24%23%16%9%99%

Monthly Win Rates [3]
ERIE Win Rate25%67%42%42%25%29% 
Peers Win Rate65%38%43%58%47%43% 
S&P 500 Win Rate75%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

EventERIES&P 500
2023 SVB Regional Banking Crisis
  % Loss-16.6%-6.7%
  % Gain to Breakeven19.9%7.1%
  Time to Breakeven21 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-16.0%-24.5%
  % Gain to Breakeven19.0%32.4%
  Time to Breakeven56 days427 days
2020 COVID-19 Crash
  % Loss-16.5%-33.7%
  % Gain to Breakeven19.8%50.9%
  Time to Breakeven5 days140 days
2013 Taper Tantrum
  % Loss-13.9%-0.2%
  % Gain to Breakeven16.2%0.2%
  Time to Breakeven150 days1 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-15.6%-17.9%
  % Gain to Breakeven18.5%21.8%
  Time to Breakeven63 days123 days
2008-2009 Global Financial Crisis
  % Loss-43.8%-53.4%
  % Gain to Breakeven77.9%114.4%
  Time to Breakeven495 days1085 days

Compare to WTW, NP, MRSH, AON, AJG

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.

EventERIES&P 500
2008-2009 Global Financial Crisis
  % Loss-43.8%-53.4%
  % Gain to Breakeven77.9%114.4%
  Time to Breakeven495 days1085 days

Compare to WTW, NP, MRSH, AON, AJG

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.

AI Analysis | Feedback

  • 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.

AI Analysis | Feedback

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.

AI Analysis | Feedback

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.

  1. 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.
  2. 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.
  3. 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.

AI Analysis | Feedback

  • 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.

AI Analysis | Feedback

The addressable market for Erie Indemnity Company's main products and services is the U.S. property and casualty insurance market. Erie Indemnity operates as a managing attorney-in-fact for the Erie Insurance Exchange, providing services for the sale, underwriting, policy issuance, and renewal of insurance products such as personal automobile, homeowners, multi-peril, workers' compensation, and commercial automobile insurance. The U.S. property and casualty insurance market was valued at approximately USD 1.10 trillion in 2025. It is projected to grow to about USD 1.33 trillion by 2030, exhibiting a compound annual growth rate (CAGR) of 3.96%. Other estimates suggest the market could reach around USD 2.17 trillion by 2035, with a CAGR of 8.43% from 2026 to 2035. The market's expansion is driven by steady demand for auto and commercial insurance, as well as the increasing adoption of digital distribution channels and advanced risk management solutions.

AI Analysis | Feedback

Erie Indemnity (ERIE) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

  1. 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%.
  2. 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.
  3. 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.
  4. 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.
  5. 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.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

ERIEWTWNPMRSHAONAJGMedian
NameErie Ind.Willis T.Neptune .Marsh & .Aon Arthur J. 
Mkt Price247.81289.1332.32179.00355.56253.76250.78
Mkt Cap13.027.54.586.676.265.246.4
Rev LTM4,1649,89716827,51717,48614,97312,435
Op Inc LTM-2,314745,9724,9452,7272,727
FCF LTM-1,567504,9283,4971,8621,862
FCF 3Y Avg-1,259-4,3273,0712,1952,633
CFO LTM-1,800545,2263,7712,0152,015
CFO 3Y Avg-1,496-4,6613,3132,3582,835

Growth & Margins

ERIEWTWNPMRSHAONAJGMedian
NameErie Ind.Willis T.Neptune .Marsh & .Aon Arthur J. 
Rev Chg LTM4.3%0.9%-9.9%6.9%24.5%6.9%
Rev Chg 3Y Avg10.3%3.4%-9.3%11.5%19.4%10.3%
Rev Chg Q1.2%8.5%28.8%7.6%6.4%27.7%8.0%
QoQ Delta Rev Chg LTM0.4%1.9%5.3%2.0%1.8%7.4%2.0%
Op Inc Chg LTM-7.7%-1.3%17.4%10.0%8.9%
Op Inc Chg 3Y Avg-11.3%-9.7%9.5%15.8%10.5%
Op Mgn LTM-23.4%44.2%21.7%28.3%18.2%23.4%
Op Mgn 3Y Avg-21.7%-22.9%27.9%19.2%22.3%
QoQ Delta Op Mgn LTM-0.1%-3.7%-1.4%0.9%-0.1%-0.1%
CFO/Rev LTM-18.2%32.2%19.0%21.6%13.5%19.0%
CFO/Rev 3Y Avg-15.3%-18.4%21.1%19.4%18.9%
FCF/Rev LTM-15.8%29.7%17.9%20.0%12.4%17.9%
FCF/Rev 3Y Avg-12.9%-17.1%19.6%18.0%17.6%

Valuation

ERIEWTWNPMRSHAONAJGMedian
NameErie Ind.Willis T.Neptune .Marsh & .Aon Arthur J. 
Mkt Cap13.027.54.586.676.265.246.4
P/S3.12.826.63.14.44.43.8
P/Op Inc-11.960.214.515.423.915.4
P/EBIT-12.064.113.913.024.313.9
P/E22.716.5128.322.119.340.522.4
P/CFO-15.382.716.620.232.420.2
Total Yield6.4%7.4%0.8%6.5%6.0%2.7%6.2%
Dividend Yield2.0%1.3%0.0%2.0%0.8%0.3%1.1%
FCF Yield 3Y Avg-4.3%-4.4%4.2%3.4%4.3%
D/E0.00.30.10.30.20.20.2
Net D/E-0.00.20.00.20.20.20.2

Returns

ERIEWTWNPMRSHAONAJGMedian
NameErie Ind.Willis T.Neptune .Marsh & .Aon Arthur J. 
1M Rtn9.0%11.1%28.5%8.1%7.2%16.9%10.1%
3M Rtn-3.1%0.8%29.9%3.4%9.6%16.6%6.5%
6M Rtn-12.2%-12.6%17.6%-3.2%1.5%-3.5%-3.4%
12M Rtn-26.5%-5.1%1.0%-14.8%0.5%-18.6%-10.0%
3Y Rtn26.9%28.9%1.0%1.6%8.0%21.1%14.6%
1M Excs Rtn9.5%10.6%29.4%8.3%7.3%17.5%10.0%
3M Excs Rtn-12.9%-11.4%13.3%-9.4%-3.1%4.1%-6.3%
6M Excs Rtn-20.8%-22.0%7.9%-11.2%-6.5%-11.4%-11.3%
12M Excs Rtn-46.9%-25.2%-20.2%-35.6%-20.0%-39.4%-30.4%
3Y Excs Rtn-44.4%-40.7%-68.3%-68.0%-61.6%-48.5%-55.1%

Comparison Analyses

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Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Management fee revenue - policy issuance and renewal services3,1322,8942,4422,0881,913
Administrative services reimbursement revenue837806737668638
Management fee revenue - administrative services7468645858
Total4,0433,7693,2432,8142,610


Operating Income by Segment
$ Mil20142013201220112010
Investment Operations7641,353998587857
Management Operations223209205208202
Life Insurance Operations-56-63-58-59-57
Property/Casualty Insurance Operation-10168-246-378-3
Total8301,567899358999


Net Income by Segment
$ Mil2014201220112009
Investment Operations46244944442
Eliminations-16-11-11 
Total44643843342


Assets by Segment
$ Mil1998
Property/Casualty Insurance Operation747
Management Operations667
Life Insurance Operations40
Total1,454


Price Behavior

Price Behavior
Market Price$247.81 
Market Cap ($ Bil)13.0 
First Trading Date10/02/1995 
Distance from 52W High-31.4% 
   50 Days200 Days
DMA Price$223.99$263.91
DMA Trenddowndown
Distance from DMA10.6%-6.1%
 3M1YR
Volatility39.3%32.1%
Downside Capture-129.87-16.57
Upside Capture-89.74-48.93
Correlation (SPY)-30.9%-9.0%
ERIE Betas & Captures as of 6/30/2026

 1M2M3M6M1Y3Y
Beta-0.91-0.89-0.51-0.29-0.190.26
Up Beta-0.99-0.830.230.460.370.58
Down Beta-0.96-0.79-1.15-0.43-0.540.08
Up Capture-17%-42%-42%-46%-23%4%
Bmk +ve Days11244067140429
Stock +ve Days11192857124400
Down Capture-155%-157%-110%-49%-10%28%
Bmk -ve Days10172358112321
Stock -ve Days10223568128351

[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%0.2935.5%
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%0.6534.2%
Bitcoin (BTCUSD)-42.8%42.8%-1.18-2.8%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ERIE
ERIE7.2%29.7%0.26-
Sector ETF (XLF)10.5%18.6%0.4338.0%
Equity (SPY)13.4%17.1%0.6126.6%
Gold (GLD)18.0%18.3%0.80-5.6%
Commodities (DBC)7.5%19.5%0.280.2%
Real Estate (VNQ)2.9%18.9%0.0632.1%
Bitcoin (BTCUSD)12.3%53.5%0.429.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with ERIE
ERIE12.3%29.3%0.45-
Sector ETF (XLF)14.1%22.1%0.5838.6%
Equity (SPY)15.8%17.9%0.7535.1%
Gold (GLD)11.7%16.1%0.59-1.6%
Commodities (DBC)6.1%18.0%0.274.8%
Real Estate (VNQ)5.2%20.7%0.2234.1%
Bitcoin (BTCUSD)58.0%66.2%0.988.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date6152026
Short Interest: Shares Quantity2.7 Mil
Short Interest: % Change Since 53120265.0%
Average Daily Volume0.2 Mil
Days-to-Cover Short Interest16.0 days
Basic Shares Quantity52.3 Mil
Short % of Basic Shares5.1%

Earnings Returns History

Updated 6/3/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D 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%
8/7/20251.3%4.4%-4.6%
4/24/2025-11.5%-14.1%-14.7%
2/27/20255.7%11.1%1.4%
10/31/2024-7.5%-5.4%-2.6%
7/25/20248.7%13.5%26.3%
...
SUMMARY STATS   
# Positive10159
# Negative14915
Median Positive4.3%4.4%10.8%
Median Negative-2.7%-5.4%-4.5%
Max Positive9.9%28.2%34.7%
Max Negative-11.5%-14.1%-14.7%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D 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%
8/7/20251.3%4.4%-4.6%
4/24/2025-11.5%-14.1%-14.7%
2/27/20255.7%11.1%1.4%
10/31/2024-7.5%-5.4%-2.6%
7/25/20248.7%13.5%26.3%
4/25/20240.4%1.2%2.3%
2/26/20249.9%16.3%14.6%
10/26/2023-6.4%-4.7%0.3%
7/27/20235.0%28.2%34.7%
4/27/2023-1.5%1.9%-0.8%
3/1/2023-0.8%0.4%-3.1%
10/27/20224.5%10.1%10.8%
7/28/20224.2%8.4%11.5%
4/28/2022-4.9%0.8%-0.8%
2/24/2022-1.9%-4.7%-1.4%
10/28/20212.8%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%
7/30/20200.4%3.7%-0.8%
SUMMARY STATS   
# Positive10159
# Negative14915
Median Positive4.3%4.4%10.8%
Median Negative-2.7%-5.4%-4.5%
Max Positive9.9%28.2%34.7%
Max Negative-11.5%-14.1%-14.7%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202604/23/202610-Q
12/31/202502/23/202610-K
09/30/202510/30/202510-Q
06/30/202508/07/202510-Q
03/31/202504/24/202510-Q
12/31/202402/27/202510-K
09/30/202410/31/202410-Q
06/30/202407/25/202410-Q
03/31/202404/25/202410-Q
12/31/202302/26/202410-K
09/30/202310/26/202310-Q
06/30/202307/27/202310-Q
03/31/202304/27/202310-Q
12/31/202203/01/202310-K
09/30/202210/27/202210-Q
06/30/202207/28/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202604/23/202610-Q
12/31/202502/23/202610-K
09/30/202510/30/202510-Q
06/30/202508/07/202510-Q
03/31/202504/24/202510-Q
12/31/202402/27/202510-K
09/30/202410/31/202410-Q
06/30/202407/25/202410-Q
03/31/202404/25/202410-Q
12/31/202302/26/202410-K
09/30/202310/26/202310-Q
06/30/202307/27/202310-Q
03/31/202304/27/202310-Q
12/31/202203/01/202310-K
09/30/202210/27/202210-Q
06/30/202207/28/202210-Q
03/31/202204/28/202210-Q
12/31/202102/24/202210-K
09/30/202110/28/202110-Q
06/30/202107/29/202110-Q
03/31/202104/29/202110-Q
12/31/202002/25/202110-K
09/30/202010/29/202010-Q
06/30/202007/31/202010-Q
03/31/202005/07/202010-Q
12/31/201902/27/202010-K
09/30/201910/25/201910-Q
06/30/201907/25/201910-Q

Insider Activity

Updated 6/8/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Vorsheck, Elizabeth A Elizabeth Vorsheck Trustee Elizabeth Vorsheck Revocable Trust U/A DTD 05/03/99Buy6042026211.173,000633,50056,398,604Form
2Vorsheck, Elizabeth A VEIC Limited PartnershipBuy6042026200.004,000800,000600,800,000Form
3Dabreo, AnthonySenior Vice President, LifeDirectSell5132026217.10465100,952197,356Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Vorsheck, Elizabeth A Elizabeth Vorsheck Trustee Elizabeth Vorsheck Revocable Trust U/A DTD 05/03/99Buy6042026211.173,000633,50056,398,604Form
2Vorsheck, Elizabeth A VEIC Limited PartnershipBuy6042026200.004,000800,000600,800,000Form
3Dabreo, AnthonySenior Vice President, LifeDirectSell5132026217.10465100,952197,356Form
Core Cache Last Updated: 7/9/2026