BidaskClub downgraded shares of Infinity Property and Casualty (NASDAQ:IPCC) from a sell rating to a strong sell rating in a research note released on Saturday.

IPCC has been the subject of several other research reports. Zacks Investment Research upgraded shares of Infinity Property and Casualty from a hold rating to a strong-buy rating and set a $122.00 price target for the company in a research report on Wednesday, November 15th. Keefe, Bruyette & Woods reiterated a hold rating and set a $94.00 price target on shares of Infinity Property and Casualty in a research report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $110.67.

Shares of Infinity Property and Casualty (NASDAQ:IPCC) traded down $0.50 during trading hours on Friday, hitting $103.05. 63,453 shares of the stock traded hands, compared to its average volume of 57,501. Infinity Property and Casualty has a 12 month low of $83.00 and a 12 month high of $110.62. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a market cap of $1,130.00, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.10 and a beta of 0.87.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 8th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Thursday, December 7th. Infinity Property and Casualty’s dividend payout ratio is currently 49.26%.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Infinity Property and Casualty by 8.3% during the second quarter. BlackRock Inc. now owns 1,501,114 shares of the insurance provider’s stock valued at $141,106,000 after purchasing an additional 114,554 shares during the period. Vanguard Group Inc. grew its holdings in Infinity Property and Casualty by 1.1% during the second quarter. Vanguard Group Inc. now owns 1,067,932 shares of the insurance provider’s stock valued at $100,386,000 after purchasing an additional 12,025 shares during the period. Macquarie Group Ltd. grew its holdings in Infinity Property and Casualty by 8.2% during the third quarter. Macquarie Group Ltd. now owns 760,406 shares of the insurance provider’s stock valued at $71,630,000 after purchasing an additional 57,870 shares during the period. Victory Capital Management Inc. lifted its stake in Infinity Property and Casualty by 3.9% in the third quarter. Victory Capital Management Inc. now owns 619,037 shares of the insurance provider’s stock valued at $58,313,000 after buying an additional 23,158 shares in the last quarter. Finally, State Street Corp lifted its stake in Infinity Property and Casualty by 3.6% in the second quarter. State Street Corp now owns 294,564 shares of the insurance provider’s stock valued at $27,688,000 after buying an additional 10,315 shares in the last quarter. Hedge funds and other institutional investors 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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