Zacks Investment Research Downgrades Infinity Property and Casualty (IPCC) to Hold

Infinity Property and Casualty (NASDAQ:IPCC) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, January 10th.

According to Zacks, “Infinity Property is a property and casualty insurer. “

IPCC has been the topic of several other research reports. BidaskClub downgraded shares of Infinity Property and Casualty from a “sell” rating to a “strong sell” rating in a report on Saturday, January 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $105.00 target price on shares of Infinity Property and Casualty in a research report on Friday, December 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $109.67.

Shares of Infinity Property and Casualty (NASDAQ IPCC) traded up $1.35 on Wednesday, reaching $106.85. 44,085 shares of the company traded hands, compared to its average volume of 40,744. The company has a market cap of $1,167.55, a P/E ratio of 22.64, a PEG ratio of 2.01 and a beta of 0.87. Infinity Property and Casualty has a 12-month low of $83.00 and a 12-month high of $110.63. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.38.

Infinity Property and Casualty (NASDAQ:IPCC) last announced its earnings results on Monday, November 6th. The insurance provider reported $1.38 EPS for the quarter, topping the consensus estimate of $0.12 by $1.26. Infinity Property and Casualty had a net margin of 3.37% and a return on equity of 7.02%. The firm had revenue of $380.70 million for the quarter, compared to the consensus estimate of $339.80 million. During the same quarter last year, the firm posted $0.17 EPS. The business’s quarterly revenue was up .7% on a year-over-year basis. equities research analysts forecast that Infinity Property and Casualty will post 4.31 EPS for the current year.

Several hedge funds have recently made changes to their positions in IPCC. SG Americas Securities LLC acquired a new position in shares of Infinity Property and Casualty during the third quarter worth approximately $152,000. Piedmont Investment Advisors LLC bought a new stake in Infinity Property and Casualty in the second quarter valued at approximately $224,000. Citadel Advisors LLC bought a new stake in Infinity Property and Casualty in the second quarter valued at approximately $262,000. Suntrust Banks Inc. increased its stake in Infinity Property and Casualty by 2.7% in the second quarter. Suntrust Banks Inc. now owns 3,155 shares of the insurance provider’s stock valued at $296,000 after purchasing an additional 82 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in Infinity Property and Casualty by 37.6% in the second quarter. UBS Asset Management Americas Inc. now owns 3,658 shares of the insurance provider’s stock valued at $344,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 95.84% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This article was posted by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this article on another site, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The original version of this article can be viewed at https://stocknewstimes.com/2018/01/21/infinity-property-and-casualty-ipcc-stock-rating-lowered-by-zacks-investment-research.html.

Infinity Property and Casualty 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.

Get a free copy of the Zacks research report on Infinity Property and Casualty (IPCC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Latest News

Leave a Reply