Macquarie Group Ltd. boosted its position in shares of Infinity Property and Casualty Corp. (NASDAQ:IPCC) by 5.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 626,990 shares of the company’s stock after buying an additional 34,374 shares during the period. Macquarie Group Ltd. owned approximately 5.67% of Infinity Property and Casualty Corp. worth $50,573,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of IPCC. BlackRock Institutional Trust Company N.A. boosted its position in shares of Infinity Property and Casualty Corp. by 2.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 315,709 shares of the company’s stock valued at $25,415,000 after buying an additional 8,486 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Infinity Property and Casualty Corp. by 159.8% in the first quarter. Goldman Sachs Group Inc. now owns 15,279 shares of the company’s stock valued at $1,230,000 after buying an additional 9,398 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Infinity Property and Casualty Corp. by 31.2% in the first quarter. Renaissance Technologies LLC now owns 172,000 shares of the company’s stock valued at $13,846,000 after buying an additional 40,891 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Infinity Property and Casualty Corp. during the first quarter valued at approximately $882,000. Finally, First Republic Investment Management Inc. boosted its position in shares of Infinity Property and Casualty Corp. by 0.5% in the first quarter. First Republic Investment Management Inc. now owns 16,231 shares of the company’s stock valued at $1,307,000 after buying an additional 82 shares during the last quarter. 98.08% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Infinity Property and Casualty Corp. (NASDAQ:IPCC)

Infinity Property and Casualty Corp. (NASDAQ:IPCC) traded down 0.17% during midday trading on Friday, reaching $86.60. 117,811 shares of the company traded hands. The firm has a market capitalization of $957.36 million, a price-to-earnings ratio of 29.66 and a beta of 0.64. Infinity Property and Casualty Corp. has a 12 month low of $73.27 and a 12 month high of $88.73. The firm’s 50 day moving average price is $82.45 and its 200 day moving average price is $81.21.

Infinity Property and Casualty Corp. (NASDAQ:IPCC) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by $0.83. The business had revenue of $378.10 million for the quarter, compared to the consensus estimate of $324.30 million. Infinity Property and Casualty Corp. had a net margin of 2.18% and a return on equity of 4.38%. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.41 EPS. On average, analysts expect that Infinity Property and Casualty Corp. will post $3.06 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 23rd. Stockholders of record on Friday, December 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.40%. Infinity Property and Casualty Corp.’s dividend payout ratio is currently 71.23%.

IPCC has been the topic of several research analyst reports. Zacks Investment Research cut shares of Infinity Property and Casualty Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th. Keefe, Bruyette & Woods initiated coverage on shares of Infinity Property and Casualty Corp. in a research report on Tuesday, November 1st. They set a “market perform” rating and a $89.00 price target on the stock.

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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