Prudential Financial Inc. trimmed its holdings in Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 1.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,933 shares of the insurance provider’s stock after selling 280 shares during the quarter. Prudential Financial Inc. owned 0.17% of Infinity Property and Casualty Corporation worth $1,780,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Suntrust Banks Inc. boosted its position in shares of Infinity Property and Casualty Corporation by 0.5% in the first quarter. Suntrust Banks Inc. now owns 3,073 shares of the insurance provider’s stock valued at $293,000 after acquiring an additional 16 shares during the period. Wells Fargo & Company MN boosted its position in shares of Infinity Property and Casualty Corporation by 0.3% in the first quarter. Wells Fargo & Company MN now owns 7,676 shares of the insurance provider’s stock valued at $733,000 after acquiring an additional 22 shares during the period. Texas Permanent School Fund boosted its position in shares of 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 valued at $758,000 after acquiring an additional 75 shares during the period. Bessemer Group Inc. boosted its position in shares of 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 valued at $1,466,000 after acquiring an additional 100 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of 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 valued at $1,861,000 after acquiring an additional 134 shares during the period. 95.16% of the stock is owned by institutional investors.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) opened at 94.20 on Friday. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 26.09 and a beta of 0.86. The company has a 50 day moving average price of $90.89 and a 200-day moving average price of $94.48. Infinity Property and Casualty Corporation has a 52 week low of $73.80 and a 52 week high of $101.70.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last issued its earnings results on Thursday, August 3rd. The insurance provider reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.55). Infinity Property and Casualty Corporation had a return on equity of 5.16% and a net margin of 2.58%. The business had revenue of $323.80 million for the quarter, compared to the consensus estimate of $330.00 million. During the same quarter in the prior year, the firm posted $0.99 earnings per share. The business’s revenue was down 3.9% compared to the same quarter last year. Equities analysts predict that Infinity Property and Casualty Corporation will post $3.75 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $2.32 annualized dividend and a dividend yield of 2.46%. Infinity Property and Casualty Corporation’s dividend payout ratio is currently 64.09%.

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IPCC has been the subject of several research reports. 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. Zacks Investment Research cut Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $94.00 price objective on shares of Infinity Property and Casualty Corporation in a research report on Friday, July 14th. Finally, BidaskClub cut Infinity Property and Casualty Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $101.67.

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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