BidaskClub Downgrades Infinity Property and Casualty (IPCC) to Sell

Infinity Property and Casualty (NASDAQ:IPCC) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

Several other research analysts have also commented on the company. Zacks Investment Research upgraded Infinity Property and Casualty from a “hold” rating to a “strong-buy” rating and set a $122.00 target price for the company in a research report on Wednesday, November 15th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $94.00 target price on shares of Infinity Property and Casualty in a research report on Thursday, September 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $107.00.

Infinity Property and Casualty (IPCC) opened at $107.10 on Tuesday. The company has a market capitalization of $1,172.98, a P/E ratio of 23.91, a PEG ratio of 2.77 and a beta of 0.86. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.48 and a quick ratio of 0.48. Infinity Property and Casualty has a 12-month low of $83.00 and a 12-month high of $110.63.

Infinity Property and Casualty (NASDAQ:IPCC) last issued its earnings results on Monday, November 6th. The insurance provider reported $1.38 EPS for the quarter, topping the consensus estimate of $0.12 by $1.26. The company had revenue of $380.70 million during the quarter, compared to analyst estimates of $339.80 million. Infinity Property and Casualty had a return on equity of 7.02% and a net margin of 3.37%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.17 EPS. research analysts expect that Infinity Property and Casualty will post 4.31 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Infinity Property and Casualty by 8.3% during the 2nd quarter. BlackRock Inc. now owns 1,501,114 shares of the insurance provider’s stock valued at $141,106,000 after purchasing an additional 114,554 shares during the period. Vanguard Group Inc. boosted its position in Infinity Property and Casualty by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,067,932 shares of the insurance provider’s stock valued at $100,386,000 after purchasing an additional 12,025 shares during the period. Macquarie Group Ltd. boosted its position in Infinity Property and Casualty by 8.2% during the 3rd quarter. Macquarie Group Ltd. now owns 760,406 shares of the insurance provider’s stock valued at $71,630,000 after purchasing an additional 57,870 shares during the period. Victory Capital Management Inc. boosted its position in Infinity Property and Casualty by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 619,037 shares of the insurance provider’s stock valued at $58,313,000 after purchasing an additional 23,158 shares during the period. Finally, State Street Corp boosted its position in Infinity Property and Casualty by 3.6% during the 2nd quarter. State Street Corp now owns 294,564 shares of the insurance provider’s stock valued at $27,688,000 after purchasing an additional 10,315 shares during the period. Institutional investors and hedge funds own 95.88% of the company’s stock.

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Infinity Property and Casualty Company Profile

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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