Zacks Investment Research upgraded shares of Infinity Property and Casualty (NASDAQ:IPCC) from a hold rating to a strong-buy rating in a research note published on Wednesday, November 15th. Zacks Investment Research currently has $122.00 target price on the insurance provider’s stock.
According to Zacks, “Infinity Property is a property and casualty insurer. “
A number of other analysts also recently issued reports on IPCC. BidaskClub raised Infinity Property and Casualty from a strong sell rating to a sell rating in a research report on Wednesday, July 19th. Keefe, Bruyette & Woods reissued a hold rating and set a $94.00 price objective 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 assigned a buy rating and one has issued a strong buy rating to the company. Infinity Property and Casualty presently has an average rating of Buy and a consensus price target of $107.00.
Shares of Infinity Property and Casualty (NASDAQ IPCC) traded up $0.45 during trading hours on Wednesday, hitting $107.60. The company had a trading volume of 69,575 shares, compared to its average volume of 40,435. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.38. The firm has a market cap of $1,170.80, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 2.77 and a beta of 0.86. Infinity Property and Casualty has a 1 year low of $83.00 and a 1 year high of $110.63.
Infinity Property and Casualty (NASDAQ:IPCC) last issued its quarterly earnings data on Monday, November 6th. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $1.26. The firm had revenue of $380.70 million during the quarter, compared to the consensus estimate of $339.80 million. Infinity Property and Casualty had a return on equity of 7.02% and a net margin of 3.37%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the company earned $0.17 EPS. sell-side analysts expect that Infinity Property and Casualty will post 4.31 EPS for the current year.
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. This represents a $2.32 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, December 7th. Infinity Property and Casualty’s dividend payout ratio is currently 49.15%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IPCC. Alliancebernstein L.P. grew its position in Infinity Property and Casualty by 1.3% in the 1st quarter. Alliancebernstein L.P. now owns 16,027 shares of the insurance provider’s stock valued at $1,531,000 after acquiring an additional 200 shares in the last quarter. Teachers Advisors LLC grew its position in Infinity Property and Casualty by 1.8% in the 1st quarter. Teachers Advisors LLC now owns 18,047 shares of the insurance provider’s stock valued at $1,723,000 after acquiring an additional 324 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in Infinity Property and Casualty by 0.6% in the 1st quarter. TIAA CREF Investment Management LLC now owns 57,509 shares of the insurance provider’s stock valued at $5,492,000 after acquiring an additional 332 shares in the last quarter. Legal & General Group Plc grew its position in Infinity Property and Casualty by 0.7% in the 1st 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 in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Infinity Property and Casualty by 7.3% during the first quarter. Vanguard Group Inc. now owns 1,055,907 shares of the insurance provider’s stock worth $100,839,000 after buying an additional 71,831 shares in the last quarter. 95.88% of the stock is owned by institutional investors.
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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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