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

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

Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods reiterated a hold rating and issued a $94.00 target price on shares of Infinity Property and Casualty Corporation in a research note on Thursday, September 21st. 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 target on the stock in a research report on Thursday, July 13th. 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. Finally, BidaskClub downgraded Infinity Property and Casualty Corporation from a hold rating to a sell rating in a research report on Saturday, August 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Infinity Property and Casualty Corporation presently has a consensus rating of Hold and an average target price of $99.50.

Infinity Property and Casualty Corporation (NASDAQ IPCC) traded up $1.25 during mid-day trading on Thursday, reaching $106.90. The company’s stock had a trading volume of 31,100 shares, compared to its average volume of 39,025. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.48 and a current ratio of 0.48. Infinity Property and Casualty Corporation has a twelve month low of $81.65 and a twelve month high of $108.10. The stock has a market capitalization of $1,168.06, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 3.32 and a beta of 0.82.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last released its earnings results on Monday, November 6th. The insurance provider reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $380.70 million for the quarter, compared to analyst estimates of $339.80 million. During the same quarter last year, the firm posted $0.17 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. equities research analysts forecast that Infinity Property and Casualty Corporation will post 3.58 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, December 7th. Infinity Property and Casualty Corporation’s dividend payout ratio is presently 49.15%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in Infinity Property and Casualty Corporation by 8.3% in the second quarter. BlackRock Inc. now owns 1,501,114 shares of the insurance provider’s stock worth $141,106,000 after acquiring an additional 114,554 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Infinity Property and Casualty Corporation by 1.1% in the second quarter. Vanguard Group Inc. now owns 1,067,932 shares of the insurance provider’s stock worth $100,386,000 after acquiring an additional 12,025 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in Infinity Property and Casualty Corporation by 8.2% in the third quarter. Macquarie Group Ltd. now owns 760,406 shares of the insurance provider’s stock worth $71,630,000 after acquiring an additional 57,870 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Infinity Property and Casualty Corporation by 3.9% in the third quarter. Victory Capital Management Inc. now owns 619,037 shares of the insurance provider’s stock worth $58,313,000 after acquiring an additional 23,158 shares in the last quarter. Finally, State Street Corp boosted its holdings in Infinity Property and Casualty Corporation by 3.6% in the second quarter. State Street Corp now owns 294,564 shares of the insurance provider’s stock worth $27,688,000 after acquiring an additional 10,315 shares in the last quarter. 96.11% of the stock is 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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