Infinity Property and Casualty Corp. (NASDAQ:IPCC) announced a quarterly dividend on Tuesday, February 27th, RTT News reports. Shareholders of record on Friday, March 16th will be paid a dividend of 0.58 per share by the insurance provider on Friday, March 30th. This represents a $2.32 annualized dividend and a yield of 1.94%. The ex-dividend date is Thursday, March 15th.
Infinity Property and Casualty has increased its dividend by an average of 17.2% annually over the last three years and has raised its dividend every year for the last 10 years. Infinity Property and Casualty has a payout ratio of 53.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Infinity Property and Casualty to earn $6.48 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 35.8%.
Shares of Infinity Property and Casualty (IPCC) opened at $119.80 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.49 and a quick ratio of 0.49. Infinity Property and Casualty has a 1-year low of $83.00 and a 1-year high of $122.45. The company has a market capitalization of $1,319.90, a P/E ratio of 29.15, a price-to-earnings-growth ratio of 2.25 and a beta of 0.60.
Several analysts have commented on IPCC shares. Zacks Investment Research raised Infinity Property and Casualty from a “hold” rating to a “strong-buy” rating and set a $119.00 price objective on the stock in a report on Friday, January 12th. BidaskClub lowered Infinity Property and Casualty from a “sell” rating to a “strong sell” rating in a report on Saturday, January 6th. ValuEngine raised Infinity Property and Casualty from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $105.00 price target on shares of Infinity Property and Casualty in a research note on Friday, December 22nd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Infinity Property and Casualty currently has an average rating of “Buy” and an average target price of $115.00.
COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by BBNS and is the property of of BBNS. If you are accessing this piece of content on another site, it was illegally stolen and republished in violation of US & international copyright & trademark law. The legal version of this piece of content can be read at https://baseballnewssource.com/2018/03/14/infinity-property-and-casualty-corp-ipcc-to-issue-quarterly-dividend-of-0-58-on-march-30th/2027926.html.
About Infinity Property and Casualty
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 & Ratings for Infinity Property and Casualty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinity Property and Casualty and related companies with MarketBeat.com's FREE daily email newsletter.