Zacks Investment Research Downgrades Infinity Property and Casualty (IPCC) to Hold

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) traded up $0.45 on Wednesday, reaching $105.00. The company’s stock had a trading volume of 35,209 shares, compared to its average volume of 45,780. The stock has a market cap of $1,147.33, a P/E ratio of 22.25, a P/E/G ratio of 1.98 and a beta of 0.87. Infinity Property and Casualty has a one year low of $83.00 and a one year high of $110.62. 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 (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.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.com-unik.info/2018/01/14/zacks-investment-research-downgrades-infinity-property-and-casualty-ipcc-to-hold.html.

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.

Get a free copy of the Zacks research report on Infinity Property and Casualty (IPCC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Infinity Property and Casualty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinity Property and Casualty and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit