BidaskClub cut shares of Infinity Property and Casualty (NASDAQ:IPCC) from a hold rating to a sell rating in a research note released on Tuesday.

A number of other research firms also recently issued reports on IPCC. Zacks Investment Research upgraded Infinity Property and Casualty from a hold rating to a strong-buy rating and set a $122.00 price target on the stock in a research note on Wednesday, November 15th. Keefe, Bruyette & Woods restated a hold rating and set a $94.00 price target on shares of Infinity Property and Casualty in a research note on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $107.00.

Infinity Property and Casualty (NASDAQ IPCC) opened at $107.35 on Tuesday. The stock has a market capitalization of $1,175.71, a P/E ratio of 23.96, a P/E/G ratio of 2.78 and a beta of 0.86. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.48 and a current ratio of 0.48. Infinity Property and Casualty has a 12 month low of $83.00 and a 12 month high of $110.63.

Infinity Property and Casualty (NASDAQ:IPCC) last released its quarterly earnings results on Monday, November 6th. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $1.26. The firm had revenue of $380.70 million for the quarter, compared to the consensus estimate of $339.80 million. Infinity Property and Casualty had a return on equity of 7.02% and a net margin of 3.37%. The firm’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. analysts expect that Infinity Property and Casualty will post 4.31 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $2.32 dividend on an annualized basis and a yield of 2.16%. Infinity Property and Casualty’s dividend payout ratio is presently 49.15%.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Infinity Property and Casualty by 8.3% during the 2nd quarter. BlackRock Inc. now owns 1,501,114 shares of the insurance provider’s stock worth $141,106,000 after acquiring an additional 114,554 shares during the period. Vanguard Group Inc. lifted its position in Infinity Property and Casualty by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,067,932 shares of the insurance provider’s stock worth $100,386,000 after acquiring an additional 12,025 shares during the period. Macquarie Group Ltd. lifted its position in Infinity Property and Casualty by 8.2% during the 3rd quarter. Macquarie Group Ltd. now owns 760,406 shares of the insurance provider’s stock worth $71,630,000 after acquiring an additional 57,870 shares during the period. Victory Capital Management Inc. lifted its position in Infinity Property and Casualty by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 619,037 shares of the insurance provider’s stock worth $58,313,000 after acquiring an additional 23,158 shares during the period. Finally, State Street Corp lifted its position in Infinity Property and Casualty by 3.6% during the 2nd quarter. State Street Corp now owns 294,564 shares of the insurance provider’s stock worth $27,688,000 after acquiring an additional 10,315 shares during the period. Hedge funds and other institutional investors own 95.88% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece of content was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another site, it was illegally copied and reposted in violation of US & international copyright & trademark laws. The correct version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/12/06/infinity-property-and-casualty-ipcc-lowered-to-sell-at-bidaskclub.html.

Infinity Property and Casualty Company Profile

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.

Receive News & Stock Ratings for Infinity Property and Casualty Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinity Property and Casualty Corp. and related stocks with our FREE daily email newsletter.