Infinity Property and Casualty (NASDAQ:IPCC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday. The firm presently has a $119.00 target price on the insurance provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.82% from the stock’s current price.
According to Zacks, “Infinity Property is a property and casualty insurer. “
A number of other analysts have also recently commented on IPCC. Keefe, Bruyette & Woods reiterated 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. BidaskClub cut Infinity Property and Casualty from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 6th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $109.67.
Shares of Infinity Property and Casualty (NASDAQ:IPCC) opened at $104.55 on Friday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.38. Infinity Property and Casualty has a 52-week low of $83.00 and a 52-week high of $110.63. The company has a market capitalization of $1,126.00, a PE ratio of 22.15, a PEG ratio of 2.10 and a beta of 0.87.
Infinity Property and Casualty (NASDAQ:IPCC) last posted its earnings results on Monday, November 6th. The insurance provider reported $1.38 EPS for the quarter, topping the Zacks’ 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 business had revenue of $380.70 million for the quarter, compared to analysts’ expectations of $339.80 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The business’s revenue was up .7% compared to the same quarter last year. research analysts forecast that Infinity Property and Casualty will post 4.31 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Infinity Property and Casualty in the 3rd quarter valued at about $152,000. Piedmont Investment Advisors LLC acquired a new position in Infinity Property and Casualty in the 2nd quarter valued at about $224,000. Citadel Advisors LLC acquired a new position in Infinity Property and Casualty in the 2nd quarter valued at about $262,000. Suntrust Banks Inc. increased its position in Infinity Property and Casualty by 2.7% in the 2nd quarter. Suntrust Banks Inc. now owns 3,155 shares of the insurance provider’s stock valued at $296,000 after acquiring an additional 82 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in Infinity Property and Casualty by 37.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 3,658 shares of the insurance provider’s stock valued at $344,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 95.84% of the company’s stock.
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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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