New York State Teachers Retirement System maintained its position in Infinity Property and Casualty Corporation (NASDAQ:IPCC) during the first quarter, Holdings Channel reports. The fund owned 36,355 shares of the insurance provider’s stock at the end of the first quarter. New York State Teachers Retirement System’s holdings in Infinity Property and Casualty Corporation were worth $3,472,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Granite Investment Partners LLC increased its position in Infinity Property and Casualty Corporation by 10.5% in the first quarter. Granite Investment Partners LLC now owns 118,909 shares of the insurance provider’s stock valued at $11,356,000 after buying an additional 11,317 shares during the period. ProShare Advisors LLC boosted its stake in Infinity Property and Casualty Corporation by 17.1% in the first quarter. ProShare Advisors LLC now owns 79,969 shares of the insurance provider’s stock valued at $7,637,000 after buying an additional 11,705 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Infinity Property and Casualty Corporation by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 1,220 shares of the insurance provider’s stock valued at $116,000 after buying an additional 20 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Infinity Property and Casualty Corporation by 1.7% in the first quarter. Nisa Investment Advisors LLC now owns 9,150 shares of the insurance provider’s stock valued at $874,000 after buying an additional 150 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Infinity Property and Casualty Corporation by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 4,500 shares of the insurance provider’s stock valued at $430,000 after buying an additional 100 shares in the last quarter. 96.28% of the stock is currently owned by hedge funds and other institutional investors.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) opened at 92.55 on Thursday. 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 one year low of $73.80 and a one year high of $101.70. The stock has a market cap of $1.02 billion, a PE ratio of 22.30 and a beta of 0.82.

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

The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were given a $0.58 dividend. The ex-dividend date was Wednesday, June 14th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.51%. Infinity Property and Casualty Corporation’s dividend payout ratio (DPR) is presently 55.90%.

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Several research firms recently issued reports on IPCC. BidaskClub upgraded Infinity Property and Casualty Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Zacks Investment Research upgraded Infinity Property and Casualty Corporation from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research report on Wednesday, June 21st. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Infinity Property and Casualty Corporation in a research report on Thursday, May 25th.

About Infinity Property and Casualty Corporation

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

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