Zacks Investment Research cut shares of Infinity Property and Casualty (NASDAQ:IPCC) from a strong-buy rating to a hold rating in a research report released on Wednesday.
According to Zacks, “Infinity Property is a property and casualty insurer. “
Several other research firms also recently commented on IPCC. BidaskClub downgraded Infinity Property and Casualty from a hold rating to a sell rating in a report on Tuesday, December 5th. Keefe, Bruyette & Woods restated a hold rating and set a $105.00 price objective on shares of Infinity Property and Casualty in a report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $109.67.
Infinity Property and Casualty (NASDAQ:IPCC) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $339.80 million. Infinity Property and Casualty had a return on equity of 7.02% and a net margin of 3.37%. Infinity Property and Casualty’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS. equities analysts anticipate that Infinity Property and Casualty will post 4.31 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Friday, December 8th were issued a $0.58 dividend. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.21%. Infinity Property and Casualty’s dividend payout ratio is presently 49.15%.
Several large investors have recently made changes to their positions in IPCC. SG Americas Securities LLC purchased a new position in shares of Infinity Property and Casualty in the 3rd quarter valued at $152,000. Piedmont Investment Advisors LLC purchased a new position in shares of Infinity Property and Casualty in the 2nd quarter valued at $224,000. Citadel Advisors LLC purchased a new position in shares of Infinity Property and Casualty in the 2nd quarter valued at $262,000. Suntrust Banks Inc. increased its holdings in shares of Infinity Property and Casualty by 2.7% in the 2nd quarter. Suntrust Banks Inc. now owns 3,155 shares of the insurance provider’s stock valued at $296,000 after acquiring an additional 82 shares during the period. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Infinity Property and Casualty by 37.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 3,658 shares of the insurance provider’s stock valued at $344,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 95.84% 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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