Infinity Property and Casualty Corporation (IPCC) Upgraded to Outperform at UBS AG

UBS AG upgraded shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) from a market perform rating to an outperform rating in a report released on Thursday, July 13th, The Fly reports.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Infinity Property and Casualty Corporation from a hold rating to a buy rating and set a $103.00 target price on the stock in a report on Wednesday, June 7th. BidaskClub upgraded Infinity Property and Casualty Corporation from a strong sell rating to a sell rating in a report on Wednesday, July 5th. Finally, Keefe, Bruyette & Woods restated a hold rating on shares of Infinity Property and Casualty Corporation in a report on Thursday, May 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $101.67.

Infinity Property and Casualty Corporation (NASDAQ IPCC) traded down 0.20% during mid-day trading on Thursday, reaching $98.35. 32,173 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $94.73 and a 200-day moving average price of $93.30. The stock has a market cap of $1.09 billion, a P/E ratio of 23.69 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 issued its earnings results on Thursday, May 4th. The insurance provider reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.07. Infinity Property and Casualty Corporation had a return on equity of 6.21% and a net margin of 2.97%. The firm had revenue of $370.70 million for the quarter, compared to analysts’ expectations of $390.70 million. During the same quarter last year, the business earned $0.68 earnings per share. The company’s revenue was down 1.4% compared to the same quarter last year. On average, analysts forecast that Infinity Property and Casualty Corporation will post $4.27 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Wednesday, June 14th. Infinity Property and Casualty Corporation’s dividend payout ratio (DPR) is presently 55.90%.

Institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its position in Infinity Property and Casualty Corporation by 4.8% in the first quarter. Ameriprise Financial Inc. now owns 58,931 shares of the insurance provider’s stock valued at $5,628,000 after buying an additional 2,677 shares during the period. Thrivent Financial For Lutherans boosted its position 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. Teachers Advisors LLC boosted its position in 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 valued at $1,558,000 after buying an additional 427 shares during the period. Norges Bank acquired a new position in Infinity Property and Casualty Corporation during the fourth quarter valued at $19,236,000. Finally, Macquarie Group Ltd. boosted its position 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 96.03% of the company’s stock.

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.

The Fly

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