21,486 Shares in Infinity Property and Casualty Corporation (IPCC) Acquired by Shell Asset Management Co.

Shell Asset Management Co. purchased a new position in shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,486 shares of the insurance provider’s stock, valued at approximately $1,375,000. Shell Asset Management Co. owned about 0.19% of Infinity Property and Casualty Corporation at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in shares of Infinity Property and Casualty Corporation by 8.3% during the second quarter. BlackRock Inc. now owns 1,501,114 shares of the insurance provider’s stock worth $141,106,000 after purchasing an additional 114,554 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Infinity Property and Casualty Corporation by 1.1% during the second quarter. Vanguard Group Inc. now owns 1,067,932 shares of the insurance provider’s stock worth $100,386,000 after purchasing an additional 12,025 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Infinity Property and Casualty Corporation by 2.7% during the second quarter. Macquarie Group Ltd. now owns 702,536 shares of the insurance provider’s stock worth $66,038,000 after purchasing an additional 18,734 shares during the last quarter. State Street Corp raised its stake in shares of Infinity Property and Casualty Corporation by 3.6% during the second quarter. State Street Corp now owns 294,564 shares of the insurance provider’s stock worth $27,688,000 after purchasing an additional 10,315 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Infinity Property and Casualty Corporation by 4.8% during the second quarter. Renaissance Technologies LLC now owns 218,100 shares of the insurance provider’s stock worth $20,501,000 after purchasing an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Infinity Property and Casualty Corporation (IPCC) opened at 94.55 on Monday. The stock has a market cap of $1.04 billion, a PE ratio of 26.19 and a beta of 0.85. Infinity Property and Casualty Corporation has a 52-week low of $73.80 and a 52-week high of $101.70. The firm has a 50-day moving average price of $92.62 and a 200 day moving average price of $94.21.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last announced its earnings results on Thursday, August 3rd. The insurance provider reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.55). The business had revenue of $323.80 million for the quarter, compared to the consensus estimate of $330.00 million. Infinity Property and Casualty Corporation had a net margin of 2.58% and a return on equity of 5.16%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.99 EPS. Equities analysts anticipate that Infinity Property and Casualty Corporation will post $2.69 earnings per share for the current year.

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IPCC has been the subject of several analyst reports. Zacks Investment Research cut Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub upgraded Infinity Property and Casualty Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. UBS AG upgraded Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 13th. Raymond James Financial, Inc. upgraded Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating and set a $105.00 price target for the company in a research note on Thursday, July 13th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $94.00 price target on shares of Infinity Property and Casualty Corporation in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $99.50.

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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Institutional Ownership by Quarter for Infinity Property and Casualty Corporation (NASDAQ:IPCC)

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