Infinity Property and Casualty Corporation (NASDAQ:IPCC) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Wednesday.
Several other analysts have also recently issued reports on IPCC. Zacks Investment Research upgraded Infinity Property and Casualty Corporation from a “hold” rating to a “strong-buy” rating and set a $109.00 target price for the company in a report on Wednesday, March 22nd. Keefe, Bruyette & Woods restated a “hold” rating on shares of Infinity Property and Casualty Corporation in a report on Thursday, May 25th. UBS AG upgraded Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, July 13th. Finally, Raymond James Financial, Inc. upgraded 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 report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Infinity Property and Casualty Corporation presently has an average rating of “Hold” and an average price target of $101.67.
Shares of Infinity Property and Casualty Corporation (IPCC) traded down 0.25% during mid-day trading on Wednesday, reaching $98.30. The company had a trading volume of 11,544 shares. The company has a market capitalization of $1.09 billion, a PE ratio of 23.68 and a beta of 0.82. Infinity Property and Casualty Corporation has a 1-year low of $73.80 and a 1-year high of $101.70. The stock’s 50-day moving average price is $94.73 and its 200 day moving average price is $93.30.
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, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.07. The company had revenue of $370.70 million during the quarter, compared to analysts’ expectations of $390.70 million. Infinity Property and Casualty Corporation had a return on equity of 6.21% and a net margin of 2.97%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.68 EPS. Equities analysts expect that Infinity Property and Casualty Corporation will post $4.27 EPS for the current year.
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Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Infinity Property and Casualty Corporation by 51,734.0% in the first quarter. BlackRock Inc. now owns 1,386,560 shares of the insurance provider’s stock valued at $132,418,000 after buying an additional 1,383,885 shares during the period. Norges Bank acquired a new position in shares of Infinity Property and Casualty Corporation during the fourth quarter valued at approximately $19,236,000. Vanguard Group Inc. raised its position in shares of Infinity Property and Casualty Corporation by 7.3% in the first quarter. Vanguard Group Inc. now owns 1,055,907 shares of the insurance provider’s stock valued at $100,839,000 after buying an additional 71,831 shares during the period. Thrivent Financial For Lutherans raised its position 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 during the period. Finally, Macquarie Group Ltd. raised its position 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 during the period. 96.03% of the stock is currently owned by institutional investors and hedge funds.
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.
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