Infinity Property and Casualty Corporation (IPCC) Upgraded to “Outperform” by 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 research report sent to investors on Thursday, July 13th, The Fly reports.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Infinity Property and Casualty Corporation from a hold rating to a buy rating and set a $106.00 price objective on the stock in a report on Wednesday, June 21st. Keefe, Bruyette & Woods restated a hold rating on shares of Infinity Property and Casualty Corporation in a research report on Thursday, May 25th. Finally, BidaskClub upgraded Infinity Property and Casualty Corporation from a strong sell rating to a sell rating in a research report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $101.67.

Shares of Infinity Property and Casualty Corporation (IPCC) traded down 1.18% during midday trading on Thursday, reaching $92.25. 44,487 shares of the company’s stock were exchanged. The company’s 50 day moving average is $95.74 and its 200-day moving average is $94.03. The stock has a market cap of $1.02 billion, a PE ratio of 22.22 and a beta of 0.83. Infinity Property and Casualty Corporation has a 12 month low of $73.80 and a 12 month high of $101.70.

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

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The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Thursday, September 7th. Infinity Property and Casualty Corporation’s payout ratio is presently 64.09%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its position in shares of 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 worth $5,628,000 after buying an additional 2,677 shares during the last quarter. 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 in the last quarter. 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 in the last quarter. 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 in the last quarter. Institutional investors and hedge funds own 95.41% 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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