Those following along with Erie Indemnity Company (NASDAQ:ERIE) will no doubt be intrigued by the recent purchase of shares by Elizabeth Ann Vorsheck, Independent Director of the company, who spent a stonking US$1.5m on stock at an average price of US$211. There's no denying a buy of that magnitude suggests conviction in a brighter future, although we do note that proportionally it only increased their holding by 0.2%.

The Last 12 Months Of Insider Transactions At Erie Indemnity

In fact, the recent purchase by Elizabeth Ann Vorsheck was the biggest purchase of Erie Indemnity shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at around the current price of US$227. That means they have been optimistic about the company in the past, though they may have changed their mind. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. Happily, the Erie Indemnity insider decided to buy shares at close to current prices. The only individual insider to buy over the last year was Elizabeth Ann Vorsheck.

The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

Erie Indemnity is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying.

Does Erie Indemnity Boast High Insider Ownership?

I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Erie Indemnity insiders own about US$4.9b worth of shares (which is 41% of the company). Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.

So What Do The Erie Indemnity Insider Transactions Indicate?

It's certainly positive to see the recent insider purchase. And the longer term insider transactions also give us confidence. Once you factor in the high insider ownership, it certainly seems like insiders are positive about Erie Indemnity. That's what I like to see! Of course, the future is what matters most.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.

For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.