Infinity Property and Casualty Corp. (NASDAQ:IPCC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

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

Infinity Property and Casualty Corp. (NASDAQ:IPCC) opened at 82.61 on Tuesday. The stock’s 50 day moving average is $83.32 and its 200-day moving average is $80.42. The firm has a market capitalization of $914.00 million, a price-to-earnings ratio of 20.36 and a beta of 0.69. Infinity Property and Casualty Corp. has a 12 month low of $73.27 and a 12 month high of $87.61.

Infinity Property and Casualty Corp. (NASDAQ:IPCC) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.23. Infinity Property and Casualty Corp. had a net margin of 3.06% and a return on equity of 6.42%. The business had revenue of $375.10 million for the quarter, compared to analyst estimates of $339.70 million. During the same period last year, the firm earned $1.16 earnings per share. Equities analysts anticipate that Infinity Property and Casualty Corp. will post $3.85 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Wednesday, September 14th. Infinity Property and Casualty Corp.’s dividend payout ratio is 51.36%.

Institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE raised its position in Infinity Property and Casualty Corp. by 8.0% in the second quarter. US Bancorp DE now owns 1,236 shares of the company’s stock worth $100,000 after buying an additional 92 shares in the last quarter. Societe Generale acquired a new position in Infinity Property and Casualty Corp. during the second quarter worth approximately $104,000. SG Americas Securities LLC acquired a new position in Infinity Property and Casualty Corp. during the second quarter worth approximately $104,000. PineBridge Investments L.P. raised its position in Infinity Property and Casualty Corp. by 6.0% in the second quarter. PineBridge Investments L.P. now owns 1,402 shares of the company’s stock worth $113,000 after buying an additional 79 shares in the last quarter. Finally, Huntington Asset Advisors Inc. acquired a new position in Infinity Property and Casualty Corp. during the first quarter worth approximately $155,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

About Infinity Property and Casualty Corp.

Infinity Property and Casualty Corporation is a holding company that, through its subsidiaries, provides personal automobile insurance with a focus on the nonstandard market. The Company writes personal automobile insurance with a concentration on nonstandard automobile insurance, mono-line commercial vehicle insurance and classic collector automobile insurance.

5 Day Chart for NASDAQ:IPCC

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