Infinity Property and Casualty (IPCC) Rating Lowered to Sell at BidaskClub

Infinity Property and Casualty (NASDAQ:IPCC) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a report released on Tuesday.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research raised Infinity Property and Casualty from a “hold” rating to a “strong-buy” rating and set a $122.00 target price on the stock in a research report on Wednesday, November 15th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $94.00 target price on shares of Infinity Property and Casualty in a research report on Thursday, September 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $107.00.

Shares of Infinity Property and Casualty (NASDAQ:IPCC) opened at $107.60 on Tuesday. The stock has a market capitalization of $1,170.80, a PE ratio of 23.86, a PEG 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. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.48 and a quick ratio of 0.48.

Infinity Property and Casualty (NASDAQ:IPCC) last issued its quarterly earnings results on Monday, November 6th. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $1.26. Infinity Property and Casualty had a return on equity of 7.02% and a net margin of 3.37%. The company had revenue of $380.70 million for the quarter, compared to the consensus estimate of $339.80 million. During the same period last year, the business posted $0.17 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. sell-side analysts predict that Infinity Property and Casualty will post 4.31 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC grew its position in Infinity Property and Casualty by 4.6% during the second quarter. Parametric Portfolio Associates LLC now owns 46,026 shares of the insurance provider’s stock worth $4,326,000 after buying an additional 2,022 shares in the last quarter. Vanguard Group Inc. lifted its stake 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 worth $100,386,000 after purchasing an additional 12,025 shares during the period. Great West Life Assurance Co. Can lifted its stake in Infinity Property and Casualty by 3.4% during the second quarter. Great West Life Assurance Co. Can now owns 16,244 shares of the insurance provider’s stock worth $1,525,000 after purchasing an additional 530 shares during the period. Teachers Advisors LLC lifted its stake in Infinity Property and Casualty by 7.7% during the second quarter. Teachers Advisors LLC now owns 19,445 shares of the insurance provider’s stock worth $1,828,000 after purchasing an additional 1,398 shares during the period. Finally, Nationwide Fund Advisors lifted its stake in Infinity Property and Casualty by 169.1% during the second quarter. Nationwide Fund Advisors now owns 17,004 shares of the insurance provider’s stock worth $1,598,000 after purchasing an additional 10,685 shares during the period. 95.88% of the stock is currently owned by institutional investors and hedge funds.

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About Infinity Property and Casualty

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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