California Public Employees Retirement System lowered its stake in Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,700 shares of the insurance provider’s stock after selling 100 shares during the period. California Public Employees Retirement System owned approximately 0.13% of Infinity Property and Casualty Corporation worth $1,404,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new stake in shares of Infinity Property and Casualty Corporation during the fourth quarter valued at $310,000. Norges Bank bought a new stake in shares of Infinity Property and Casualty Corporation during the fourth quarter valued at $19,236,000. Teachers Advisors LLC increased its stake in shares of Infinity Property and Casualty Corporation by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 17,723 shares of the insurance provider’s stock valued at $1,558,000 after buying an additional 427 shares during the period. Alpha Windward LLC increased its stake in shares of Infinity Property and Casualty Corporation by 1.1% in the first quarter. Alpha Windward LLC now owns 5,400 shares of the insurance provider’s stock valued at $516,000 after buying an additional 60 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in shares of Infinity Property and Casualty Corporation by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 4,500 shares of the insurance provider’s stock valued at $430,000 after buying an additional 100 shares during the period. Institutional investors own 95.41% of the company’s stock.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) opened at 93.00 on Monday. Infinity Property and Casualty Corporation has a 52-week low of $73.80 and a 52-week high of $101.70. The stock’s 50 day moving average price is $95.74 and its 200 day moving average price is $94.03. The firm has a market capitalization of $1.03 billion, a PE ratio of 22.40 and a beta of 0.83.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last announced its earnings results 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. Infinity Property and Casualty Corporation had a return on equity of 5.16% and a net margin of 2.58%. The business had revenue of $323.80 million for the quarter, compared to analysts’ expectations of $330 million. During the same period in the previous year, the firm posted $0.99 earnings per share. The firm’s revenue was down 3.9% compared to the same quarter last year. Analysts expect that Infinity Property and Casualty Corporation will post $4.27 earnings per share for the current 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 given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Thursday, September 7th. Infinity Property and Casualty Corporation’s payout ratio is 64.09%.

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Several equities research analysts have weighed in on IPCC shares. Keefe, Bruyette & Woods restated a “hold” rating on shares of Infinity Property and Casualty Corporation in a report on Thursday, May 25th. Zacks Investment Research downgraded Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. BidaskClub downgraded Infinity Property and Casualty Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. UBS AG upgraded Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, July 13th. Finally, Raymond James Financial, Inc. upgraded 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 report on Thursday, July 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average 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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