Infinity Property and Casualty Corporation (IPCC) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) from a sell rating to a hold rating in a report released on Thursday.

According to Zacks, “Infinity Property is a property and casualty insurer. “

Several other equities research analysts have also recently commented on the company. BidaskClub raised Infinity Property and Casualty Corporation from a strong sell rating to a sell rating in a research report on Wednesday, July 19th. Raymond James Financial, Inc. raised Infinity Property and Casualty Corporation from a market perform rating to an outperform rating and set a $105.00 price objective on the stock in a research report on Thursday, July 13th. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $94.00 price objective on shares of Infinity Property and Casualty Corporation in a research report on Thursday, September 21st. Finally, UBS AG raised Infinity Property and Casualty Corporation from a market perform rating to an outperform rating in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $99.50.

Shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) opened at $106.90 on Thursday. The company has a current ratio of 0.48, a quick ratio of 0.46 and a debt-to-equity ratio of 0.38. Infinity Property and Casualty Corporation has a 12-month low of $81.65 and a 12-month high of $108.10. The company has a market capitalization of $1,168.10, a price-to-earnings ratio of 23.81, a P/E/G ratio of 3.32 and a beta of 0.82.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last released its quarterly earnings data on Monday, November 6th. The insurance provider reported $1.38 EPS for the quarter, beating the consensus estimate of $0.12 by $1.26. Infinity Property and Casualty Corporation had a return on equity of 7.02% and a net margin of 3.37%. The company had revenue of $380.70 million for the quarter, compared to analysts’ expectations of $339.80 million. During the same period last year, the firm posted $0.17 earnings per share. Infinity Property and Casualty Corporation’s revenue was up .7% compared to the same quarter last year. research analysts predict that Infinity Property and Casualty Corporation will post 3.58 EPS for the current fiscal year.

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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. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $2.32 annualized dividend and a yield of 2.17%. Infinity Property and Casualty Corporation’s payout ratio is 49.15%.

A number of large investors have recently made changes to their positions in the business. Texas Permanent School Fund boosted its position in Infinity Property and Casualty Corporation by 0.9% in the second quarter. Texas Permanent School Fund now owns 8,068 shares of the insurance provider’s stock worth $758,000 after purchasing an additional 75 shares during the last quarter. Suntrust Banks Inc. boosted its position in Infinity Property and Casualty Corporation 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 purchasing an additional 82 shares during the last quarter. Bessemer Group Inc. boosted its position in Infinity Property and Casualty Corporation by 0.6% in the second quarter. Bessemer Group Inc. now owns 15,600 shares of the insurance provider’s stock worth $1,466,000 after purchasing an additional 100 shares during the last quarter. Martingale Asset Management L P boosted its position in Infinity Property and Casualty Corporation by 0.3% in the second quarter. Martingale Asset Management L P now owns 38,003 shares of the insurance provider’s stock worth $3,573,000 after purchasing an additional 100 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Infinity Property and Casualty Corporation by 0.7% in the first quarter. Legal & General Group Plc now owns 19,493 shares of the insurance provider’s stock worth $1,861,000 after purchasing an additional 134 shares during the last quarter. 95.05% of the stock is currently owned by institutional investors and hedge funds.

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.

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