Infinity Property and Casualty Corporation (NASDAQ:IPCC) Shares Bought by Macquarie Group Ltd.

Macquarie Group Ltd. raised its position in Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 3.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 683,802 shares of the insurance provider’s stock after buying an additional 23,306 shares during the period. Macquarie Group Ltd. owned about 6.19% of Infinity Property and Casualty Corporation worth $65,303,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in IPCC. BlackRock Inc. raised its stake in shares of Infinity Property and Casualty Corporation by 51,734.0% in the first quarter. BlackRock Inc. now owns 1,386,560 shares of the insurance provider’s stock worth $132,418,000 after buying an additional 1,383,885 shares during the last quarter. Norges Bank purchased a new stake in Infinity Property and Casualty Corporation during the fourth quarter worth $19,236,000. Thrivent Financial for Lutherans increased its stake in Infinity Property and Casualty Corporation by 127.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 144,631 shares of the insurance provider’s stock worth $12,713,000 after buying an additional 80,957 shares during the period. Vanguard Group Inc. increased its stake in Infinity Property and Casualty Corporation by 7.3% in the first quarter. Vanguard Group Inc. now owns 1,055,907 shares of the insurance provider’s stock worth $100,839,000 after buying an additional 71,831 shares during the period. Finally, Thrivent Financial For Lutherans increased its stake in Infinity Property and Casualty Corporation by 30.2% in the first quarter. Thrivent Financial For Lutherans now owns 188,291 shares of the insurance provider’s stock worth $17,982,000 after buying an additional 43,660 shares during the period. 96.28% of the stock is currently owned by institutional investors and hedge funds.

Shares of Infinity Property and Casualty Corporation (IPCC) traded up 0.33% during midday trading on Wednesday, reaching $92.55. 12,458 shares of the company were exchanged. The stock has a 50-day moving average price of $94.91 and a 200 day moving average price of $92.66. Infinity Property and Casualty Corporation has a 52-week low of $73.80 and a 52-week high of $101.70. The company has a market capitalization of $1.02 billion, a P/E ratio of 22.30 and a beta of 0.82.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last issued its quarterly earnings results on Thursday, May 4th. The insurance provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.07. Infinity Property and Casualty Corporation had a net margin of 2.97% and a return on equity of 6.21%. The firm had revenue of $370.70 million for the quarter, compared to analyst estimates of $390.70 million. During the same period in the previous year, the business earned $0.68 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. Equities research analysts expect that Infinity Property and Casualty Corporation will post $4.32 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $2.32 annualized dividend and a dividend yield of 2.51%. Infinity Property and Casualty Corporation’s dividend payout ratio is presently 55.90%.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by Markets Daily and is the sole property of of Markets Daily. If you are accessing this report on another domain, it was illegally copied and reposted in violation of US & international copyright & trademark law. The correct version of this report can be accessed at https://www.themarketsdaily.com/2017/07/12/macquarie-group-ltd-buys-23306-shares-of-infinity-property-and-casualty-corporation-ipcc-updated-updated.html.

Several analysts have issued reports on IPCC shares. Zacks Investment Research raised shares of Infinity Property and Casualty Corporation from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a research note on Wednesday, June 21st. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Infinity Property and Casualty Corporation in a research note on Thursday, May 25th. Finally, BidaskClub raised shares of Infinity Property and Casualty Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th.

Infinity Property and Casualty Corporation 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.

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

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

Latest News

Leave a Reply