Infinity Property and Casualty Corporation (NASDAQ:IPCC) Rating Increased to Sell at BidaskClub

BidaskClub upgraded shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) from a strong sell rating to a sell rating in a report released on Wednesday, July 19th.

IPCC has been the subject of several other research reports. 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 target price for the company in a research note on Thursday, July 13th. Zacks Investment Research raised shares of Infinity Property and Casualty Corporation from a hold rating to a buy rating and set a $106.00 target price for the company in a research note on Wednesday, June 21st. Keefe, Bruyette & Woods reissued 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’s stock. The stock has a consensus rating of Hold and an average price target of $101.67.

Infinity Property and Casualty Corporation (IPCC) traded up 0.25% during trading on Wednesday, reaching $100.50. 10,993 shares of the company were exchanged. Infinity Property and Casualty Corporation has a 52-week low of $73.80 and a 52-week high of $101.70. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 24.21 and a beta of 0.82. The firm has a 50-day moving average of $95.53 and a 200-day moving average of $93.75.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last issued its earnings results on Thursday, May 4th. The insurance provider reported $0.93 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.07. Infinity Property and Casualty Corporation had a net margin of 2.97% and a return on equity of 6.21%. The firm had revenue of $370.70 million during the quarter, compared to the consensus estimate of $390.70 million. During the same quarter in the prior year, the firm earned $0.68 earnings per share. The business’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities analysts forecast that Infinity Property and Casualty Corporation will post $4.27 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Infinity Property and Casualty Corporation (NASDAQ:IPCC) Rating Increased to Sell at BidaskClub” was first reported by BNB Daily and is owned by of BNB Daily. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The legal version of this story can be read at https://www.baseball-news-blog.com/2017/07/31/infinity-property-and-casualty-corporation-nasdaqipcc-upgraded-to-sell-by-bidaskclub-updated.html.

Large investors have recently modified their holdings of the company. Ameriprise Financial Inc. increased its stake 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 valued at $5,628,000 after buying an additional 2,677 shares in the last quarter. Thrivent Financial For Lutherans increased its stake in shares of 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 increased 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 valued at $1,558,000 after buying an additional 427 shares in the last quarter. Norges Bank bought a new stake in shares of Infinity Property and Casualty Corporation during the fourth quarter valued at about $19,236,000. Finally, Macquarie Group Ltd. increased its stake in shares of 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. 95.78% of the stock is owned by 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.

Receive News & Ratings for Infinity Property and Casualty Corporation Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Infinity Property and Casualty Corporation and related companies with MarketBeat.com’s FREE daily email newsletter.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

eleven + 14 =