Zacks: Infinity Property and Casualty Corp. (IPCC) Given $103.50 Average Target Price by Brokerages

Shares of Infinity Property and Casualty Corp. (NASDAQ:IPCC) have received a consensus broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a sell recommendation and one has given a buy recommendation to the company.

Brokerages have set a 1-year consensus price objective of $103.50 for the company and are forecasting that the company will post $1.67 EPS for the current quarter, according to Zacks. Zacks has also assigned Infinity Property and Casualty an industry rank of 191 out of 265 based on the ratings given to its competitors.

A number of analysts have issued reports on IPCC shares. Zacks Investment Research raised Infinity Property and Casualty from a “hold” rating to a “strong-buy” rating and set a $122.00 target price on the stock in a research report on Wednesday, November 15th. BidaskClub lowered Infinity Property and Casualty from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. Finally, Keefe, Bruyette & Woods reissued 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.

Infinity Property and Casualty (NASDAQ IPCC) traded down $1.00 during mid-day trading on Friday, hitting $107.85. 37,074 shares of the stock traded hands, compared to its average volume of 57,328. The stock has a market cap of $1,178.48, a price-to-earnings ratio of 24.02, a PEG ratio of 2.78 and a beta of 0.86. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.38. Infinity Property and Casualty has a 1 year low of $83.00 and a 1 year high of $110.63.

Infinity Property and Casualty (NASDAQ:IPCC) last released its quarterly earnings results on Monday, November 6th. The insurance provider reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $1.26. The firm had revenue of $380.70 million for the quarter, compared to analyst estimates of $339.80 million. Infinity Property and Casualty had a net margin of 3.37% and a return on equity of 7.02%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. sell-side analysts forecast that Infinity Property and Casualty will post 4.31 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Thursday, December 7th. Infinity Property and Casualty’s payout ratio is 49.15%.

A number of hedge funds and other institutional investors have recently made changes to their positions in IPCC. SG Americas Securities LLC acquired a new position in shares of Infinity Property and Casualty in the third quarter worth $152,000. Piedmont Investment Advisors LLC acquired a new position in shares of Infinity Property and Casualty in the second quarter worth $224,000. Citadel Advisors LLC acquired a new position in shares of Infinity Property and Casualty in the second quarter worth $262,000. Suntrust Banks Inc. grew its stake in shares of Infinity Property and Casualty by 2.7% in the second quarter. Suntrust Banks Inc. now owns 3,155 shares of the insurance provider’s stock worth $296,000 after acquiring an additional 82 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Infinity Property and Casualty by 37.6% in the second quarter. UBS Asset Management Americas Inc. now owns 3,658 shares of the insurance provider’s stock worth $344,000 after acquiring an additional 1,000 shares in the last quarter. 95.88% of the stock is currently owned by institutional investors.

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About Infinity Property and Casualty

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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