Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Funds Aren’t Crazy About Erie Indemnity Company (ERIE) Anymore

Page 1 of 2

Is Erie Indemnity Company (NASDAQ:ERIE) a good investment?

In the financial world, there are many methods investors can use to analyze Mr. Market. A couple of the most innovative are hedge fund and insider trading sentiment. At Insider Monkey, our studies have shown that, historically, those who follow the top picks of the elite investment managers can outclass their index-focused peers by a superb amount (see just how much).

Just as key, optimistic insider trading activity is another way to look at the marketplace. Obviously, there are many stimuli for a bullish insider to downsize shares of his or her company, but just one, very clear reason why they would behave bullishly. Various academic studies have demonstrated the useful potential of this tactic if shareholders know what to do (learn more here).

Keeping this in mind, let’s discuss the latest info for Erie Indemnity Company (NASDAQ:ERIE).

How are hedge funds trading Erie Indemnity Company (NASDAQ:ERIE)?

Heading into Q3, a total of 6 of the hedge funds we track held long positions in this stock, a change of -14% from one quarter earlier. With hedge funds’ capital changing hands, there exists a select group of key hedge fund managers who were boosting their stakes significantly.

Erie Indemnity Company (NASDAQ:ERIE)When using filings from the hedgies we track, Royce & Associates, managed by Chuck Royce, holds the most valuable position in Erie Indemnity Company (NASDAQ:ERIE). Royce & Associates has a $79.9 million position in the stock, comprising 0.2% of its 13F portfolio. Sitting at the No. 2 spot is D. E. Shaw of D E Shaw, with a $8.8 million position; the fund has less than 0.1%% of its 13F portfolio invested in the stock. Some other hedge funds with similar optimism include Jim Simons’s Renaissance Technologies, Ken Griffin’s Citadel Investment Group and Joel Greenblatt’s Gotham Asset Management.

Judging by the fact that Erie Indemnity Company (NASDAQ:ERIE) has experienced declining interest from upper-tier hedge fund managers, it’s easy to see that there lies a certain “tier” of hedgies that decided to sell off their entire stakes last quarter. At the top of the heap, Matthew Tewksbury’s Stevens Capital Management dropped the largest stake of the “upper crust” of funds we key on, comprising an estimated $0.2 million in stock. Ben Levine Andrew Manuel and Stefan Renold’s fund, LMR Partners, also said goodbye to its stock, about $0.2 million worth. These transactions are intriguing to say the least, as aggregate hedge fund interest dropped by 1 funds last quarter.

Insider trading activity in Erie Indemnity Company (NASDAQ:ERIE)

Insider buying is particularly usable when the company we’re looking at has experienced transactions within the past six months. Over the last 180-day time period, Erie Indemnity Company (NASDAQ:ERIE) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

We’ll check out the relationship between both of these indicators in other stocks similar to Erie Indemnity Company (NASDAQ:ERIE). These stocks are Aon PLC (NYSE:AON), National Financial Partners Corp. (NYSE:NFP), Willis Group Holdings PLC (NYSE:WSH), Arthur J. Gallagher & Co. (NYSE:AJG), and Brown & Brown, Inc. (NYSE:BRO). All of these stocks are in the insurance brokers industry and their market caps resemble ERIE’s market cap.

Page 1 of 2

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!