Infinity Property and Casualty Corporation (NASDAQ:IPCC) Receives Average Recommendation of “” from Brokerages

Infinity Property and Casualty Corporation (NASDAQ:IPCC) has been given a consensus broker rating score of 3.00 (Hold) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. Infinity Property and Casualty Corporation’s rating score has improved by 9.9% in the last three months as a result of various analysts’ ratings changes.

Brokers have set a 1-year consensus price objective of $97.00 for the company and are predicting that the company will post $0.89 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Infinity Property and Casualty Corporation an industry rank of 214 out of 265 based on the ratings given to related companies.

Several analysts have issued reports on IPCC shares. UBS AG raised shares of Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 13th. Zacks Investment Research downgraded shares of Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. BidaskClub raised shares of Infinity Property and Casualty Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Infinity Property and Casualty Corporation in a research note on Thursday, May 25th. Finally, Raymond James Financial, Inc. raised shares of Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a research note on Thursday, July 13th.

Several institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new position in Infinity Property and Casualty Corporation during the fourth quarter valued at approximately $310,000. State Street Corp boosted its position in Infinity Property and Casualty Corporation by 11.3% in the fourth quarter. State Street Corp now owns 271,862 shares of the insurance provider’s stock valued at $23,898,000 after buying an additional 27,685 shares in the last quarter. Guggenheim Capital LLC boosted its position in Infinity Property and Casualty Corporation by 98.9% in the fourth quarter. Guggenheim Capital LLC now owns 24,582 shares of the insurance provider’s stock valued at $2,160,000 after buying an additional 12,225 shares in the last quarter. Norges Bank bought a new position in Infinity Property and Casualty Corporation during the fourth quarter valued at approximately $19,236,000. Finally, Teachers Advisors LLC boosted its position in Infinity Property and Casualty Corporation by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 17,723 shares of the insurance provider’s stock valued at $1,558,000 after buying an additional 427 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Shares of Infinity Property and Casualty Corporation (IPCC) opened at 100.10 on Friday. The stock’s 50 day moving average price is $95.62 and its 200 day moving average price is $93.94. Infinity Property and Casualty Corporation has a 12-month low of $73.80 and a 12-month high of $101.70. The firm has a market cap of $1.11 billion, a PE ratio of 24.11 and a beta of 0.82.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last announced its earnings results on Thursday, May 4th. The insurance provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.07. Infinity Property and Casualty Corporation had a net margin of 2.97% and a return on equity of 6.21%. The company had revenue of $370.70 million for the quarter, compared to the consensus estimate of $390.70 million. During the same period in the previous year, the business earned $0.68 EPS. The company’s revenue was down 1.4% on a year-over-year basis. On average, equities research analysts predict that Infinity Property and Casualty Corporation will post $4.27 EPS for the current fiscal year.

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About Infinity Property and Casualty Corporation

Infinity Property and Casualty Corporation is a holding company. The Company’s segments include Personal Auto, Commercial Vehicle and Classic Collector (its segments are Personal Auto and Commercial Vehicle). The Company writes personal automobile insurance with a concentration on nonstandard automobile insurance, commercial vehicle insurance and classic collector automobile insurance.

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