TIAA CREF Investment Management LLC Acquires 332 Shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC)

TIAA CREF Investment Management LLC increased its position in shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 0.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,509 shares of the insurance provider’s stock after buying an additional 332 shares during the period. TIAA CREF Investment Management LLC owned 0.52% of Infinity Property and Casualty Corporation worth $5,492,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. raised 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 period. Teachers Advisors LLC raised 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 last quarter. Norges Bank acquired a new position in Infinity Property and Casualty Corporation during the fourth quarter valued at $19,236,000. Macquarie Group Ltd. raised 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 last quarter. Finally, Russell Investments Group Ltd. acquired a new position in Infinity Property and Casualty Corporation during the fourth quarter valued at $310,000. Institutional investors own 95.78% of the company’s stock.

Infinity Property and Casualty Corporation (NASDAQ IPCC) remained flat at $93.35 during midday trading on Friday. The company’s stock had a trading volume of 29,332 shares. The stock has a market cap of $1.03 billion, a PE ratio of 22.49 and a beta of 0.83. The company’s 50 day moving average is $95.74 and its 200 day moving average is $94.03. 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 posted 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 the consensus estimate 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 quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.99 earnings per share. On average, analysts forecast that Infinity Property and Casualty Corporation will post $4.27 earnings per share for the current fiscal year.

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

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IPCC has been the topic of several recent research reports. Zacks Investment Research lowered shares of Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. BidaskClub lowered shares of Infinity Property and Casualty Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Raymond James Financial, Inc. upgraded shares of Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a report on Thursday, July 13th. Keefe, Bruyette & Woods restated a “hold” rating on shares of Infinity Property and Casualty Corporation in a report on Thursday, May 25th. Finally, UBS AG upgraded shares of Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average 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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