S&P 500 Dividend Aristocrats welcomes Erie Indemnity, Eversource Energy, FactSet Research Systems
Investing.com -- The S&P 500 Dividend Aristocrats, an index that follows companies with a history of raising their dividends for at least 25 consecutive years, has announced its annual rebalancing. Effective at the market close on Jan. 31, 2025, Erie Indemnity Company, Eversource Energy (NYSE: ES ), and FactSet Research Systems were added to the index, taking the total number of member stocks to 69.
Erie Indemnity Company, a property and casualty insurance company that provides auto, home, business, and life insurance, is one of the new additions. The company was established in Erie, Pennsylvania in April 1925 by H.O. Hirt and O.G. Crawford. As per the latest quarterly earnings release, Erie Indemnity’s quarterly net income rose from $131.0 million in Q3 2023 to $159.8 million in Q3 2024, a year-over-year increase of 22.0%.
Eversource Energy, an energy company based in Hartford, Connecticut, and Boston, Massachusetts, is another new member. The company, which dates back to the mid-19th century, currently serves 4.4 million customers in the New England region. As of Jan. 31, 2025, Eversource offered a 4.96% dividend yield, significantly higher than the S&P 500 Dividend Aristocrats’ dividend yield of 2.39%.
The third new addition is FactSet Research Systems, a financial data and software company founded in 1978 by Howard Wille and Chuck Snyder. The company, headquartered in Norwalk, Connecticut, operates 37 offices in 20 countries. As per FactSet’s latest quarterly earnings release, as of Nov. 30, 2024, the company was highly profitable, with a gross margin of 54.5%, a return-on-equity of 29.2%, and a return on invested capital of 15.6%.
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