Vanguard Trims Erie Indemnity Class A Stake to 5.4%

TL;DR

**Vanguard cut its Erie Indemnity Class A stake to 5.4%, down from 6.0%.**

AI Summary

The Vanguard Group, a major investment management company based in Pennsylvania, filed an amended SC 13G/A on February 13, 2024, indicating its beneficial ownership of Erie Indemnity Company Class A Common Stock. As of December 29, 2023, Vanguard reported owning 2,058,829 shares, representing 5.4% of the class. This is a decrease from their previous reported ownership of 2,298,995 shares (6.0%), meaning Vanguard has slightly reduced its stake in Erie Indemnity, which could signal a minor shift in their investment strategy for the company.

Why It Matters

This filing shows that a major institutional investor, Vanguard, has slightly reduced its position in Erie Indemnity, which could influence other investors' perceptions of the stock's future prospects.

Risk Assessment

Risk Level: low — A minor reduction in ownership by an institutional investor like Vanguard is generally not a significant risk factor for the company.

Analyst Insight

Investors should note Vanguard's minor reduction in its stake, but this alone is unlikely to be a major catalyst. It's prudent to investigate if other large institutional investors are also adjusting their positions or if there's any fundamental news about Erie Indemnity that might explain this change.

Key Numbers

• 2,058,829 — Shares Beneficially Owned (Vanguard's total shares of Erie Indemnity Class A as of December 29, 2023.)
• 5.4% — Percentage of Class (Vanguard's ownership percentage of Erie Indemnity Class A as of December 29, 2023.)
• 6.0% — Previous Percentage of Class (Vanguard's previously reported ownership percentage of Erie Indemnity Class A, indicating a reduction.)

Key Players & Entities

• The Vanguard Group (company) — Reporting Person, investment management company
• Erie Indemnity Company Class A (company) — Subject Company, issuer of the securities
• 2,058,829 (dollar_amount) — Number of shares beneficially owned by Vanguard as of December 29, 2023
• 5.4% (dollar_amount) — Percentage of Class A Common Stock beneficially owned by Vanguard as of December 29, 2023
• December 29, 2023 (date) — Date of the event requiring the filing
• February 13, 2024 (date) — Filing date of the SC 13G/A amendment

Forward-Looking Statements

• Vanguard's slight reduction in stake may lead to a minor, short-term negative sentiment among some investors. (Erie Indemnity Company Class A) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• tv0870-erieindemnitycompanyc.htm (SC 13G/A) — 11KB
• 0001104659-24-020870.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Erie Indemnity Company Class A

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 100 Erie Insurance Place Erie, PA 16530-1104

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 29530P102

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR