Infinity Property and Casualty Corporation (IPCC) Lowered to “Sell” at BidaskClub

BidaskClub lowered shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) from a hold rating to a sell rating in a research note published on Saturday morning.

Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Infinity Property and Casualty Corporation from a buy rating to a hold rating in a research report on Tuesday, June 6th. 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 price objective for the company in a research report on Thursday, July 13th. Keefe, Bruyette & Woods reaffirmed a hold rating on shares of Infinity Property and Casualty Corporation in a research report on Thursday, May 25th. Finally, UBS AG raised shares of Infinity Property and Casualty Corporation from a market perform rating to an outperform rating in a research report on Thursday, July 13th. One 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. Infinity Property and Casualty Corporation currently has an average rating of Hold and an average price target of $101.67.

Shares of Infinity Property and Casualty Corporation (NASDAQ IPCC) remained flat at $93.35 during mid-day trading on Friday. 29,332 shares of the company’s stock traded hands. Infinity Property and Casualty Corporation has a 12-month low of $73.80 and a 12-month high of $101.70. The firm’s 50 day moving average is $95.74 and its 200-day moving average is $94.03. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 22.49 and a beta of 0.83.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last released its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by $0.55. The firm had revenue of $323.80 million for the quarter, compared to analysts’ expectations of $330 million. Infinity Property and Casualty Corporation had a return on equity of 5.16% and a net margin of 2.58%. Infinity Property and Casualty Corporation’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period last year, the firm posted $0.99 earnings per share. Equities research analysts forecast that Infinity Property and Casualty Corporation will post $4.27 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.58 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.32 annualized dividend and a dividend yield of 2.49%. Infinity Property and Casualty Corporation’s dividend payout ratio (DPR) is currently 64.09%.

A number of large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in shares of Infinity Property and Casualty Corporation during the fourth quarter worth $310,000. Norges Bank bought a new stake in shares of Infinity Property and Casualty Corporation during the fourth quarter worth $19,236,000. Teachers Advisors LLC boosted its stake in shares of Infinity Property and Casualty Corporation by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 17,723 shares of the insurance provider’s stock worth $1,558,000 after buying an additional 427 shares during the period. Alpha Windward LLC boosted its stake in shares of Infinity Property and Casualty Corporation by 1.1% in the first quarter. Alpha Windward LLC now owns 5,400 shares of the insurance provider’s stock worth $516,000 after buying an additional 60 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Infinity Property and Casualty Corporation by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 4,500 shares of the insurance provider’s stock worth $430,000 after buying an additional 100 shares during the period. 95.78% of the stock is owned by hedge funds and other institutional investors.

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.




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