Alliancebernstein L.P. Buys 200 Shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC)

Alliancebernstein L.P. increased its position in shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,027 shares of the insurance provider’s stock after buying an additional 200 shares during the period. Alliancebernstein L.P. owned approximately 0.15% of Infinity Property and Casualty Corporation worth $1,531,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in IPCC. State of Alaska Department of Revenue increased its stake in shares of 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 worth $116,000 after buying an additional 20 shares during the period. Hillsdale Investment Management Inc. bought a new stake in shares of Infinity Property and Casualty Corporation during the first quarter worth approximately $162,000. Arxis Securities LLC bought a new stake in shares of Infinity Property and Casualty Corporation during the first quarter worth approximately $208,000. Mason Street Advisors LLC increased its stake in shares of Infinity Property and Casualty Corporation by 6.8% in the first quarter. Mason Street Advisors LLC now owns 2,581 shares of the insurance provider’s stock worth $246,000 after buying an additional 165 shares during the period. Finally, Suntrust Banks Inc. increased its stake 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 worth $293,000 after buying an additional 16 shares during the period. Institutional investors own 95.95% of the company’s stock.

Shares of Infinity Property and Casualty Corporation (IPCC) opened at 98.45 on Tuesday. The firm’s 50-day moving average is $94.83 and its 200 day moving average is $93.49. The firm has a market capitalization of $1.09 billion, a P/E ratio of 23.72 and a beta of 0.82. 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 announced its quarterly earnings results on Thursday, May 4th. The insurance provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.07. The company had revenue of $370.70 million for the quarter, compared to analysts’ expectations of $390.70 million. Infinity Property and Casualty Corporation had a net margin of 2.97% and a return on equity of 6.21%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period last year, the firm posted $0.68 earnings per share. Equities research analysts forecast that Infinity Property and Casualty Corporation will post $4.27 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.36%. Infinity Property and Casualty Corporation’s dividend payout ratio is 55.90%.

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A number of brokerages have recently commented 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. UBS AG upgraded 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 downgraded Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $94.00 target price on shares of Infinity Property and Casualty Corporation in a research note on Friday, July 14th. Finally, Raymond James Financial, Inc. raised shares of Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $101.67.

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




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