Infinity Property and Casualty Corporation (NASDAQ:IPCC) Position Increased by Geode Capital Management LLC

Geode Capital Management LLC raised its position in shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 87,731 shares of the insurance provider’s stock after buying an additional 3,644 shares during the period. Geode Capital Management LLC owned about 0.79% of Infinity Property and Casualty Corporation worth $8,378,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in IPCC. State of Alaska Department of Revenue increased its position 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 in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Infinity Property and Casualty Corporation during the first quarter worth about $162,000. Arxis Securities LLC acquired a new position in shares of Infinity Property and Casualty Corporation during the first quarter worth about $208,000. Mason Street Advisors LLC increased its position 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 in the last quarter. Finally, Suntrust Banks Inc. increased its position 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 in the last quarter. Institutional investors own 95.41% of the company’s stock.

Shares of Infinity Property and Casualty Corporation (IPCC) traded down 2.14% during mid-day trading on Friday, hitting $91.55. The stock had a trading volume of 29,779 shares. The stock has a market cap of $1.01 billion, a P/E ratio of 25.36 and a beta of 0.83. The company’s 50 day moving average is $95.50 and its 200-day moving average is $94.28. 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 released its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ 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 for the quarter, compared to the consensus estimate of $330 million. During the same quarter in the prior year, the business posted $0.99 earnings per share. Infinity Property and Casualty Corporation’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, equities research analysts anticipate that Infinity Property and Casualty Corporation will post $4.03 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a $0.58 dividend. 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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A number of research analysts recently issued reports on the company. 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 report on Thursday, July 13th. BidaskClub raised Infinity Property and Casualty Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. 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 research report on Wednesday, June 21st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Infinity Property and Casualty Corporation in a research report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. Infinity Property and Casualty Corporation has a consensus rating of “Hold” and a consensus 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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