Principal Financial Group Inc. raised its position in shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 3.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 83,905 shares of the insurance provider’s stock after buying an additional 2,833 shares during the period. Principal Financial Group Inc. owned about 0.76% of Infinity Property and Casualty Corporation worth $8,013,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue boosted its stake in Infinity Property and Casualty Corporation by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 1,220 shares of the insurance provider’s stock worth $116,000 after buying an additional 20 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in Infinity Property and Casualty Corporation during the first quarter worth approximately $162,000. Arxis Securities LLC acquired a new stake in Infinity Property and Casualty Corporation during the first quarter worth approximately $208,000. Mason Street Advisors LLC boosted its stake in Infinity Property and Casualty Corporation by 6.8% in the first quarter. Mason Street Advisors LLC now owns 2,581 shares of the insurance provider’s stock worth $246,000 after buying an additional 165 shares during the period. Finally, Suntrust Banks Inc. raised its stake in shares of Infinity Property and Casualty Corporation by 0.5% in the first quarter. Suntrust Banks Inc. now owns 3,073 shares of the insurance provider’s stock worth $293,000 after buying an additional 16 shares in the last quarter. Institutional investors and hedge funds own 95.78% of the company’s stock.

Shares of Infinity Property and Casualty Corporation (NASDAQ IPCC) remained flat at $93.35 during trading on Friday. 29,332 shares of the company’s stock traded hands. The firm’s 50-day moving average is $95.74 and its 200 day moving average is $94.03. The company has a market cap of $1.03 billion, a P/E ratio of 22.49 and a beta of 0.83. Infinity Property and Casualty Corporation has a 12-month low of $73.80 and a 12-month high of $101.70.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last issued its earnings results on Thursday, August 3rd. The insurance provider reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.89 by $0.55. Infinity Property and Casualty Corporation had a net margin of 2.97% and a return on equity of 6.21%. The firm had revenue of $323.80 million during the quarter, compared to analyst estimates of $330 million. During the same quarter in the previous year, the business posted $0.99 EPS. Infinity Property and Casualty Corporation’s revenue was down 3.9% compared to the same quarter last year. Equities research analysts expect that Infinity Property and Casualty Corporation will post $4.27 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, September 7th. Infinity Property and Casualty Corporation’s payout ratio is currently 55.90%.

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A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $94.00 price target on shares of Infinity Property and Casualty Corporation in a research note on Friday, July 14th. Raymond James Financial, Inc. raised Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a research note on Thursday, July 13th. Zacks Investment Research lowered Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub raised Infinity Property and Casualty Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Finally, UBS AG raised Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $101.67.

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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