22,366 Shares in Infinity Property and Casualty Corporation (IPCC) Acquired by Ajo LP

Ajo LP purchased a new stake in Infinity Property and Casualty Corporation (NASDAQ:IPCC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,366 shares of the insurance provider’s stock, valued at approximately $2,102,000. Ajo LP owned 0.20% of Infinity Property and Casualty Corporation as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Teachers Advisors LLC boosted its stake in shares of Infinity Property and Casualty Corporation by 2.5% in the 4th quarter. Teachers Advisors LLC now owns 17,723 shares of the insurance provider’s stock valued at $1,558,000 after purchasing an additional 427 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Infinity Property and Casualty Corporation by 2.3% in the 1st quarter. Louisiana State Employees Retirement System now owns 4,500 shares of the insurance provider’s stock valued at $430,000 after purchasing an additional 100 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Infinity Property and Casualty Corporation by 90.5% in the 1st quarter. Russell Investments Group Ltd. now owns 6,704 shares of the insurance provider’s stock valued at $639,000 after purchasing an additional 3,184 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Infinity Property and Casualty Corporation by 0.3% in the 1st quarter. Wells Fargo & Company MN now owns 7,676 shares of the insurance provider’s stock valued at $733,000 after purchasing an additional 22 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in shares of Infinity Property and Casualty Corporation by 5.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 15,714 shares of the insurance provider’s stock valued at $1,500,000 after purchasing an additional 813 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods reaffirmed 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. 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 on the stock in a research note on Thursday, July 13th. BidaskClub lowered shares of Infinity Property and Casualty Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Zacks Investment Research lowered shares of Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $101.67.

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Infinity Property and Casualty Corporation (IPCC) opened at 90.65 on Tuesday. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of 25.11 and a beta of 0.86. Infinity Property and Casualty Corporation has a 52 week low of $73.80 and a 52 week high of $101.70. The company’s 50-day moving average is $91.17 and its 200 day moving average is $94.52.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last issued 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). The company had revenue of $323.80 million for the quarter, compared to analysts’ expectations of $330.00 million. Infinity Property and Casualty Corporation had a net margin of 2.58% and a return on equity of 5.16%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, analysts forecast that Infinity Property and Casualty Corporation will post $3.75 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, September 7th. Infinity Property and Casualty Corporation’s dividend payout ratio (DPR) is presently 64.09%.

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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