Zacks Investment Research cut shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) from a hold rating to a sell rating in a research note issued to investors on Tuesday.

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

Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods reaffirmed a hold rating on shares of Infinity Property and Casualty Corporation in a research note on Thursday, May 25th. Raymond James Financial, Inc. raised shares of Infinity Property and Casualty Corporation from a market perform rating to an outperform rating and set a $105.00 price objective on the stock in a research note on Thursday, July 13th. UBS AG raised shares of Infinity Property and Casualty Corporation from a market perform rating to an outperform rating in a research note on Thursday, July 13th. Finally, BidaskClub cut shares of Infinity Property and Casualty Corporation from a hold rating to a sell rating in a research note on Saturday, August 5th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Infinity Property and Casualty Corporation has a consensus rating of Hold and a consensus price target of $101.67.

Shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) traded down 2.14% during trading on Tuesday, reaching $91.55. The company’s stock had a trading volume of 29,779 shares. Infinity Property and Casualty Corporation has a 1-year low of $73.80 and a 1-year high of $101.70. The company’s 50-day moving average price is $95.57 and its 200 day moving average price is $94.24. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 25.36 and a beta of 0.83.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last issued its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by $0.55. The firm had revenue of $323.80 million for the quarter, compared to the consensus estimate of $330 million. Infinity Property and Casualty Corporation had a return on equity of 5.16% and a net margin of 2.58%. Infinity Property and Casualty Corporation’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 earnings per share. Analysts anticipate that Infinity Property and Casualty Corporation will post $4.03 EPS for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a dividend of $0.58 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.32 annualized dividend and a dividend yield of 2.53%. Infinity Property and Casualty Corporation’s dividend payout ratio (DPR) is currently 64.09%.

Several hedge funds have recently added to or reduced their stakes in the stock. 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 valued at $116,000 after buying an additional 20 shares during the period. Hillsdale Investment Management Inc. bought a new stake in Infinity Property and Casualty Corporation during the first quarter valued at approximately $162,000. Arxis Securities LLC bought a new stake in Infinity Property and Casualty Corporation during the first quarter valued at 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 valued at $246,000 after buying an additional 165 shares during the period. Finally, Suntrust Banks Inc. boosted its stake in 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 valued at $293,000 after buying an additional 16 shares during the period. 95.41% of the stock is currently owned by institutional investors and hedge funds.

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.

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