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On July 24, 2026, Erie Indemnity Co (ERIE) shares rose 4.2%, closing at $223.55. This price movement occurs within a 52-week range of $204.63 to $380.67, highli

Erie Indemnity (ERIE) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

16.7.2026 22:00

Negativní sentiment se před koncem obchodní seance ještě více prohloubil. Může za to silný pokles technologického giganta Google, u kterého přišla zpráva, že je v několikaměsíčním zpoždění s vydáním nové vlajkové AI verze Geminy Pro 3.5. V prostředí velké konkurence to může mít neblahý efekt ztráty poptávky. Akcie Alphabet končí silnou ztrátou –4,43 %.

Nevalný výsledek zažil i čipový sektor, kde velkou váhu poklesu má na svědomí Micron -5,65 % či AMD -5,33 %.

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Ropa WTI stále mírně ztrácela -0,75 %. Negativní vývoj na burze tedy dnes nebyl ovlivněn negativní geopolitickou situací.

Index Dow Jones -0,2 % na 52553,62 b.
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Index S&P 500 -0,51 % na 7533,89 b. Nejsilnější sektory S&P Změna Nejslabší sektory S&P Změna Nezbytná spotřeba +2,9 % Komunikační služby -2,8 % Zdravotní péče +2,2 % Informační technologie -1,8 % Reality +2,1 % Zbytná spotřeba -0,3 % Nejsilnější akcie S&P Změna Nejslabší akcie S&P Změna Abbott Laboratories (ABT) +11 % Sandisk Corp (SNDK) -13 % JB Hunt Transport Services (JBHT) +8,0 % Seagate Technology Holdings (STX) -10,0 % Fedex Freight Holding (FDXF) +7,5 % Corning (GLW) -9,2 % Erie Indemnity (ERIE) +7,5 % Western Digital Corp (WDC) -9,2 % Dexcom (DXCM) +7,2 % Marvell Technology (MRVL) -8,7 %
Jan Pazourek, Fio banka, a.s.

, /PRNewswire/ -- Erie Indemnity Company (NASDAQ: ERIE) will host a pre-recorded audio webcast with the financial community providing financial results for the first quarter 2026 on Friday, April 24th, at 10 a.m. Eastern Time. Erie Indemnity will issue a press release reporting its results after the close of the market on Thursday, April 23rd.

The pre-recorded audio will be available on the company's Investor Relations website at www.erieinsurance.com/investors

To access the pre-recorded audio via phone, please go to this link (registration link), and you will be provided details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time.

To automatically receive Erie Indemnity financial news by email, please visit www.erieinsurance.com and subscribe to email alerts.

About Erie Insurance

Erie Insurance Group, based in Erie, Pennsylvania, is the 11th largest homeowners insurer, 12th largest automobile insurer and 10th largest commercial lines insurer in the United States based on direct premiums written, according to AM Best Company. Founded in 1925, Erie Insurance is a Fortune 500 company and the 16th largest property/casualty insurer in the United States based on net premiums written. Rated A (Excellent) by AM Best, ERIE has nearly seven million policies in force and operates in 12 states and the District of Columbia. News releases and more information are available on ERIE's website at www.erieinsurance.com

SOURCE Erie Indemnity

Net Income was $150.5 million, Earnings per Diluted Share was $2.88

, /PRNewswire/ -- Erie Indemnity Company (NASDAQ: ERIE) today announced financial results for the quarter ending March 31, 2026.  Net income was $150.5 million, or $2.88 per diluted share, in the first quarter of 2026, compared to $138.4 million, or $2.65 per diluted share, in the first quarter of 2025. 

1Q 2026

(in thousands)

1Q'26

1Q'25

Operating income

$      166,787

$      151,376

Investment income

22,119

19,536

Other income

1,420

3,834

Income before income taxes

190,326

174,746

Income tax expense

39,852

36,329

Net income

$      150,474

$      138,417

1Q 2026 Highlights

Operating income before taxes increased $15.4 million, or 10.2 percent, in the first quarter of 2026 compared to the first quarter of 2025.

Management fee revenue - policy issuance and renewal services increased $31.4 million, or 4.2 percent, in the first quarter of 2026 compared to the first quarter of 2025. Management fee revenue - administrative services increased $1.8 million, or 10.4 percent, in the first quarter of 2026 compared to the first quarter of 2025. Cost of operations - policy issuance and renewal services Commissions increased $28.0 million in the first quarter of 2026, compared to the same period in 2025, primarily driven by an increase in agent incentive compensation and the growth in direct and affiliated assumed written premium. Non-commission expense decreased $10.7 million in the first quarter of 2026 compared to the first quarter of 2025.  Personnel costs increased $2.1 million, primarily driven by higher pension costs and increased compensation.  Sales and advertising decreased $2.0 million primarily due to a decrease in advertising costs and community development initiative costs.  Acquisition and underwriting support costs decreased $1.9 million primarily due to lower underwriting report costs.  Professional fees decreased $7.0 million primarily due to reduced use of third-party services related to technology initiatives.  Administrative and other costs decreased $1.6 million primarily due to lower charitable contributions related to the transition of charitable giving through the Erie Insurance Foundation, partially offset by an increase in credit card processing fees. Income from investments before taxes totaled $22.1 million in the first quarter of 2026 compared to $19.5 million in the first quarter of 2025.  Net investment income was $23.6 million in the first quarter of 2026 compared to $19.9 million in the first quarter of 2025.  Net realized and unrealized losses were $0.8 million in the first quarter of 2026 compared to gains of $0.5 million in the first quarter of 2025. 

Webcast Information

Indemnity has scheduled a pre-recorded audio broadcast on the Web for 10:00 AM ET on April 24, 2026.  Investors may access the pre-recorded audio broadcast by logging on to www.erieinsurance.com.

Erie Insurance Group

Erie Insurance Group, based in Erie, Pennsylvania, is the 11th largest homeowners insurer, 12th largest automobile insurer and 10th largest commercial lines insurer in the United States based on direct premiums written, according to AM Best Company.  Founded in 1925, Erie Insurance is a Fortune 500 company and the 16th largest property/casualty insurer in the United States based on net premiums written.  Rated A (Excellent) by AM Best, ERIE has nearly seven million policies in force and operates in 12 states and the District of Columbia. 

News releases and more information are available on ERIE's website at www.erieinsurance.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:

Statements contained herein that are not historical fact are forward-looking statements and, as such, are subject to risks and uncertainties that could cause actual events and results to differ, perhaps materially, from those discussed herein.  Forward-looking statements relate to future trends, events or results and include, without limitation, statements and assumptions on which such statements are based that are related to our plans, strategies, objectives, expectations, intentions, and adequacy of resources.  Examples of forward-looking statements are discussions relating to premium and investment income, expenses, operating results, and compliance with contractual and regulatory requirements.  Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict.  Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements.  Among the risks and uncertainties, in addition to those set forth in our filings with the Securities and Exchange Commission, that could cause actual results and future events to differ from those set forth or contemplated in the forward-looking statements include the following:

dependence upon our relationship with the Erie Insurance Exchange ("Exchange") and the management fee under the agreement with the subscribers at the Exchange; dependence upon our relationship with the Exchange and the growth of the Exchange, including: general business and economic conditions; factors impacting the timing of premium rates charged for policies; factors affecting insurance industry competition, including technological innovations; dependence upon the independent agency system; and ability to maintain our brand, including our reputation for customer service; dependence upon our relationship with the Exchange and the financial condition of the Exchange, including: the Exchange's ability to maintain acceptable financial strength ratings; factors affecting the quality and liquidity of the Exchange's investment portfolio; changes in government regulation of the insurance industry; litigation and regulatory actions; emergence of significant unexpected events, including pandemics, economic or social inflation, and changes in tariff policies; emerging claims and coverage issues in the industry; and severe weather conditions or other catastrophic losses, including terrorism; costs of providing policy issuance and renewal services to the subscribers at the Exchange under the subscriber's agreement; ability to attract, develop, retain, and protect talented management and employees; ability to ensure system availability and effectively manage technology initiatives; difficulties with technology, data or network security breaches, including cyber attacks; ability to maintain uninterrupted business operations; compliance with complex and evolving laws and regulations and outcome of pending and potential litigation; factors affecting the quality and liquidity of our investment portfolio; and ability to meet liquidity needs and access capital. A forward-looking statement speaks only as of the date on which it is made and reflects our analysis only as of that date.  We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changes in assumptions or otherwise.

Erie Indemnity Company

Consolidated Statements of Operations

(dollars in thousands, except per share data)

Three months ended March 31,

2026

2025

(Unaudited)

Operating revenue

Management fee revenue - policy issuance and renewal services

$      786,399

$      755,049

Management fee revenue - administrative services

19,475

17,645

Administrative services reimbursement revenue

200,096

210,273

Service agreement revenue

5,941

6,432

Total operating revenue

1,011,911

989,399

Operating expenses

Cost of operations - policy issuance and renewal services

645,028

627,750

Cost of operations - administrative services

200,096

210,273

Total operating expenses

845,124

838,023

Operating income

166,787

151,376

Investment income

Net investment income

23,560

19,948

Net realized and unrealized investment (losses) gains

(765)

502

Net impairment losses recognized in earnings

(676)

(914)

Total investment income

22,119

19,536

Other income

1,420

3,834

Income before income taxes

190,326

174,746

Income tax expense

39,852

36,329

Net income

$      150,474

$      138,417

Net income per share

Class A common stock – basic

$          3.23

$          2.97

Class A common stock – diluted

$          2.88

$          2.65

Class B common stock – basic and diluted

$           485

$           446

Weighted average shares outstanding – Basic

Class A common stock

46,188,850

46,188,903

Class B common stock

2,542

2,542

Weighted average shares outstanding – Diluted

Class A common stock

52,300,180

52,304,384

Class B common stock

2,542

2,542

Dividends declared per share

Class A common stock

$       1.4625

$        1.365

Class B common stock

$      219.375

$       204.75

Erie Indemnity Company

Consolidated Statements of Financial Position

(in thousands)

March 31, 2026

December 31, 2025

(Unaudited)

Assets

Current assets:

Cash and cash equivalents (includes restricted cash of $39,549 and $30,189, respectively)

$      268,616

$      345,874

Available-for-sale securities

53,995

33,902

Available-for-sale securities lent

870

3,436

Receivables from Erie Insurance Exchange and affiliates, net

743,236

735,589

Prepaid expenses and other current assets, net

79,713

66,061

Accrued investment income

14,469

14,311

Total current assets

1,160,899

1,199,173

Available-for-sale securities, net

1,296,154

1,286,566

Equity securities

67,889

70,624

Available-for-sale and equity securities lent

54,417

61,063

Fixed assets, net

579,649

571,476

Agent loans, net

102,436

93,953

Defined benefit pension plan

66,617

24,137

Other assets, net

48,617

48,489

Total assets

$   3,376,678

$   3,355,481

Liabilities and shareholders' equity

Current liabilities:

Commissions payable

$      440,465

$      425,320

Agent incentive compensation

58,393

132,560

Accounts payable and accrued liabilities

229,421

200,701

Dividends payable

68,109

68,109

Contract liability

47,432

47,561

Deferred executive compensation

6,466

9,400

Securities lending payable

49,621

61,936

Total current liabilities

899,907

945,587

Defined benefit pension plan

34,023

33,410

Contract liability

22,936

23,274

Deferred executive compensation

24,023

22,050

Deferred income taxes, net

19,982

24,788

Other long-term liabilities

22,286

22,998

Total liabilities

1,023,157

1,072,107

Shareholders' equity

2,353,521

2,283,374

Total liabilities and shareholders' equity

$   3,376,678

$   3,355,481

SOURCE Erie Indemnity Company

Erie Indemnity Co (ERIE) Q1 2026 Earnings Call Highlights: Strong Financial Performance Amid Competitive Market Erie Indemnity Co (ERIE) reports improved underwriting performance and net income growth, despite challenges in premium growth and customer retention.

Release Date: April 24, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points Erie Indemnity Co ERIE experienced significantly lower catastrophe and weather-related losses in the first quarter of 2026, improving underwriting performance.The company's combined ratio improved to 99.4% in Q1 2026 from 108.1% in Q1 2025, driven by better rate adequacy and reduced catastrophe losses.Net income increased to nearly $151 million or $2.88 per diluted share in Q1 2026, compared to $138 million or $2.65 per diluted share in Q1 2025.Management fee revenue for policy issuance and renewal services grew by approximately 4.2%, aligning with the increase in direct written premiums.Erie Indemnity Co (ERIE) is actively expanding its product offerings, such as Erie Secure Auto and Business Auto 2.0, into new states, enhancing growth opportunities. Negative Points Direct written premium growth slowed to 3.6% in Q1 2026 compared to 13.9% in Q1 2025, reflecting a more competitive market environment.Policies in force decreased by 1.7% from the previous year, and retention declined to 88%, indicating challenges in maintaining customer base.Higher premiums are impacting customer behavior, making growth challenging despite improved pricing adequacy.Commission expenses increased by 6.4% due to higher agent incentive compensation and base commissions, impacting overall cost structure.Noncommission expenses decreased by 5.6%, but personnel costs rose due to higher pension costs and increased compensation, affecting expense management. Q & A Highlights Q: Can you provide an overview of the recent changes to the Board of Directors at Erie Indemnity Co?
A: Timothy Necastro, President and CEO, announced that Tom Hagen has stepped down as Chairman after over 20 years, with Jonathan Hirt Hagen elected as the new Chairman. William Edwards has joined the Board, and the company mourns the passing of long-time Board member George Lucore.

Q: How did Erie Indemnity Co perform financially in the first quarter of 2026 compared to the previous year?
A: Julie Pelkowski, CFO, reported that net income was nearly $151 million, up from $138 million in Q1 2025. Operating income increased by approximately 10%, and the combined ratio improved to 99.4% from 108.1% due to lower catastrophe losses and improved rate adequacy.

Q: What were the key drivers behind the improved combined ratio in Q1 2026?
A: Julie Pelkowski explained that the improvement was driven by a reduction in non-catastrophe losses and a significant decrease in catastrophe losses compared to the previous year, which included the costliest weather event in the company's history.

Q: What strategic initiatives is Erie Indemnity Co focusing on for future growth?
A: Timothy Necastro highlighted the rollout of Erie Secure Auto and Business Auto 2.0, as well as the introduction of a new online quote platform to enhance customer and agent experiences. The company is also modernizing technology platforms and integrating AI to improve operational efficiency.

Q: How is Erie Indemnity Co leveraging artificial intelligence within the organization?
A: Timothy Necastro stated that AI is being used to improve workflows, such as preparing subrogation cases and reducing backlogs. The focus is on enhancing employee performance rather than replacing jobs, with AI strengthening the human touch in operations.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

On May 18, 2026, Erie Indemnity Co ERIE shares saw a positive movement, rising 4.0% to a current price of $221.51. This performance comes after a challenging period, with a 52-week range spanning from a low of $210.07 to a high of $380.67.

GF Value™ verdict: The current price is $221.51, which is 38.5% below the GF Value™ estimate of $360.45.GF Score™: 64/100, indicating an above-average potential for long-term returns.Most notable signal: Financial Strength is rated 9/10, suggesting a robust balance sheet. Is ERIE Overvalued or Undervalued? Based on the current price of $221.51, Erie Indemnity Co appears significantly undervalued when compared to the GF Value™ of $360.45. This provides a margin of safety of 38.5%, indicating that the stock could be a favorable opportunity for those looking for undervalued assets in the insurance sector. The GF Valuation label classifies ERIE as "Significantly Undervalued," which suggests that the market may not be fully reflecting the company's intrinsic value at this time.

Despite the company's financial strength and growth prospects, investors should consider the risks associated with potential volatility and the stock's recent performance, which has seen a year-to-date decline of 21.9% and a one-year decrease of 39.6%. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.

How Does ERIE's Valuation Compare to Its History? MetricCurrentHistorical P/E (TTM)20.3x35.7x (5-Year Median) Forward P/E17.8x Currently, ERIE's P/E (TTM) of 20.3x is significantly below its 5-year median P/E of 35.7x and also lower than its forward P/E of 17.8x. This analysis aligns with the GF Value™ verdict, indicating that the stock is trading at a valuation that is well below its historical averages, further supporting the notion that ERIE is undervalued at its current price.

What Does ERIE's GF Score™ Tell Us? MetricRating GF Score™64 Financial Strength9/10 Profitability7/10 Growth4/10 Valuation4/10 Momentum1/10 The GF Score™ of 64/100 suggests that Erie Indemnity Co is positioned above average in terms of long-term return potential. The strongest area is Financial Strength, rated 9/10, indicating a solid balance sheet and low debt levels. However, the weakest aspect is Momentum, rated at 1/10, which shows that the stock has not performed well in the near term, reflecting recent negative trends in price performance.

What Are Insiders Doing with ERIE Stock? In the last three months, insiders have sold $0.1 million worth of ERIE stock, with no reported buying activity. This pattern may suggest a level of caution among insiders, potentially reflecting their sentiment about the company's short-term prospects or market conditions. However, the lack of significant insider buying may also indicate a wait-and-see approach rather than a strong bearish outlook.

What This Means for Investors Based on the GF Value™ assessment, Erie Indemnity Co ERIE appears significantly undervalued. While the company's financial strength and low relative P/E ratios present a compelling case for potential growth, the current market sentiment and recent stock performance may warrant careful consideration.

For the complete analysis, visit the Erie Indemnity Co ERIE stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is ERIE's GF Score™?

ERIE's GF Score™ is 64/100, indicating an above-average potential for long-term returns based on various financial metrics.

Is ERIE overvalued or undervalued?

ERIE is currently undervalued, with a GF Value™ of $360.45 compared to its current price of $221.51, representing a 38.5% margin of safety.

What is ERIE's P/E ratio?

ERIE's P/E ratio is 20.3x, which is 43% below its 5-year median of 35.7x, indicating that the stock is trading at a lower valuation compared to its historical performance.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].