First Quadrant L P CA increased its stake in shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 79.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 21,017 shares of the insurance provider’s stock after buying an additional 9,317 shares during the period. First Quadrant L P CA owned approximately 0.19% of Infinity Property and Casualty Corporation worth $1,976,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Aperio Group LLC boosted its position in Infinity Property and Casualty Corporation by 4.6% in the second quarter. Aperio Group LLC now owns 4,946 shares of the insurance provider’s stock valued at $465,000 after buying an additional 218 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Infinity Property and Casualty Corporation by 78.6% in the second quarter. State of Alaska Department of Revenue now owns 2,179 shares of the insurance provider’s stock valued at $204,000 after buying an additional 959 shares in the last quarter. Macquarie Group Ltd. boosted its position in Infinity Property and Casualty Corporation by 3.5% in the first quarter. Macquarie Group Ltd. now owns 683,802 shares of the insurance provider’s stock valued at $65,303,000 after buying an additional 23,306 shares in the last quarter. State Street Corp boosted its position in shares of Infinity Property and Casualty Corporation by 4.6% in the first quarter. State Street Corp now owns 284,249 shares of the insurance provider’s stock valued at $27,150,000 after buying an additional 12,387 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Infinity Property and Casualty Corporation by 72.6% in the first quarter. Bank of America Corp DE now owns 28,958 shares of the insurance provider’s stock valued at $2,765,000 after buying an additional 12,180 shares during the period. Institutional investors and hedge funds own 95.78% of the company’s stock.
Infinity Property and Casualty Corporation (IPCC) traded up 0.27% on Friday, hitting $93.60. 7,853 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 stock has a market capitalization of $1.03 billion, a P/E ratio of 22.55 and a beta of 0.83. The stock’s 50-day moving average price is $95.74 and its 200-day moving average price is $94.03.
Infinity Property and Casualty Corporation (NASDAQ:IPCC) last issued its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.89 by $0.55. The company had revenue of $323.80 million for the quarter, compared to analyst estimates of $330 million. Infinity Property and Casualty Corporation had a return on equity of 6.21% and a net margin of 2.97%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.99 EPS. On average, equities research analysts anticipate that Infinity Property and Casualty Corporation will post $4.27 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, September 7th. Infinity Property and Casualty Corporation’s dividend payout ratio is presently 55.90%.
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Several equities analysts have recently weighed in on IPCC shares. UBS AG upgraded shares of Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 13th. Zacks Investment Research cut shares of Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a research note on Monday, June 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $94.00 price objective on shares of Infinity Property and Casualty Corporation in a research note on Friday, July 14th. BidaskClub raised shares of Infinity Property and Casualty Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, 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 report on Thursday, July 13th. One equities research 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. Infinity Property and Casualty Corporation presently has an average rating of “Hold” and an average price target of $101.67.
Infinity Property and Casualty Corporation Company Profile
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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