First Quadrant L P CA Buys 9,317 Shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC)

First Quadrant L P CA raised its stake in Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 79.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,017 shares of the insurance provider’s stock after buying an additional 9,317 shares during the period. First Quadrant L P CA owned 0.19% of Infinity Property and Casualty Corporation worth $1,976,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in IPCC. BlackRock Inc. increased its stake in Infinity Property and Casualty Corporation by 51,734.0% in the first quarter. BlackRock Inc. now owns 1,386,560 shares of the insurance provider’s stock valued at $132,418,000 after buying an additional 1,383,885 shares during the period. Norges Bank acquired a new stake in Infinity Property and Casualty Corporation during the fourth quarter valued at $19,236,000. Vanguard Group Inc. increased its stake in Infinity Property and Casualty Corporation by 7.3% in the first quarter. Vanguard Group Inc. now owns 1,055,907 shares of the insurance provider’s stock valued at $100,839,000 after buying an additional 71,831 shares during the period. Thrivent Financial For Lutherans increased its stake in Infinity Property and Casualty Corporation by 30.2% in the first quarter. Thrivent Financial For Lutherans now owns 188,291 shares of the insurance provider’s stock valued at $17,982,000 after buying an additional 43,660 shares during the period. Finally, Macquarie Group Ltd. increased its stake in Infinity Property and Casualty Corporation by 4.4% in the fourth quarter. Macquarie Group Ltd. now owns 660,496 shares of the insurance provider’s stock valued at $58,058,000 after buying an additional 27,878 shares during the period. Institutional investors and hedge funds own 95.41% of the company’s stock.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) opened at 91.55 on Friday. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 25.36 and a beta of 0.83. Infinity Property and Casualty Corporation has a 52 week low of $73.80 and a 52 week high of $101.70. The stock’s 50 day moving average price is $95.50 and its 200 day moving average price is $94.28.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last issued its quarterly earnings results on Thursday, August 3rd. The insurance provider reported $0.34 earnings per share 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 company had revenue of $323.80 million for the quarter, compared to analysts’ expectations of $330 million. During the same quarter last year, the company earned $0.99 EPS. Infinity Property and Casualty Corporation’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, analysts forecast that Infinity Property and Casualty Corporation will post $4.03 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a dividend of $0.58 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.32 annualized dividend and a yield of 2.53%. Infinity Property and Casualty Corporation’s dividend payout ratio (DPR) is 64.09%.

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Several brokerages have recently commented on IPCC. Zacks Investment Research lowered Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. BidaskClub upgraded Infinity Property and Casualty Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. Raymond James Financial, Inc. upgraded Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a research note on Thursday, July 13th. Keefe, Bruyette & Woods restated a “hold” rating on shares of Infinity Property and Casualty Corporation in a research note on Thursday, May 25th. Finally, UBS AG upgraded Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. Infinity Property and Casualty Corporation currently has an average rating of “Hold” and an average target price 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.

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

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