Brokerages Expect Infinity Property and Casualty Corporation (IPCC) to Post $0.89 EPS

Shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) have been assigned an average broker rating score of 3.00 (Hold) from the three brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and one has given a buy recommendation to the company. Infinity Property and Casualty Corporation’s rating score has improved by 9.9% in the last 90 days as a result of various analysts’ ratings changes.

Brokers have set a one year consensus price objective of $97.00 for the company and are expecting that the company will post $0.89 EPS for the current quarter, according to Zacks. Zacks has also assigned Infinity Property and Casualty Corporation an industry rank of 223 out of 265 based on the ratings given to related companies.

A number of brokerages recently weighed in on IPCC. BidaskClub raised shares of Infinity Property and Casualty Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $94.00 price objective on shares of Infinity Property and Casualty Corporation in a research report on Friday, July 14th. 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 for the company in a research report 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 report on Thursday, July 13th. Finally, Zacks Investment Research downgraded shares of Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th.

Several large investors have recently made changes to their positions in IPCC. Texas Permanent School Fund increased its stake in shares of Infinity Property and Casualty Corporation by 0.9% in the second quarter. Texas Permanent School Fund now owns 8,068 shares of the insurance provider’s stock worth $758,000 after buying an additional 75 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Infinity Property and Casualty Corporation by 0.6% in the second quarter. Bessemer Group Inc. now owns 15,600 shares of the insurance provider’s stock worth $1,466,000 after buying an additional 100 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Infinity Property and Casualty Corporation by 3.4% in the second quarter. Great West Life Assurance Co. Can now owns 16,244 shares of the insurance provider’s stock worth $1,525,000 after buying an additional 530 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Infinity Property and Casualty Corporation by 22.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 5,230 shares of the insurance provider’s stock worth $491,000 after buying an additional 970 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Infinity Property and Casualty Corporation by 240.5% in the second quarter. Russell Investments Group Ltd. now owns 22,824 shares of the insurance provider’s stock worth $2,146,000 after buying an additional 16,120 shares in the last quarter. 95.95% of the stock is owned by institutional investors and hedge funds.

Shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) traded up 1.78% during trading on Friday, hitting $100.25. The company’s stock had a trading volume of 19,081 shares. Infinity Property and Casualty Corporation has a 52 week low of $73.80 and a 52 week high of $101.70. The firm’s 50 day moving average price is $95.53 and its 200-day moving average price is $93.75. The company has a market cap of $1.11 billion, a PE ratio of 24.15 and a beta of 0.82.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last released its earnings results on Thursday, May 4th. The insurance provider reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.07. Infinity Property and Casualty Corporation had a net margin of 2.97% and a return on equity of 6.21%. The company had revenue of $370.70 million during the quarter, compared to the consensus estimate of $390.70 million. During the same quarter in the previous year, the firm earned $0.68 EPS. The company’s revenue was down 1.4% on a year-over-year basis. On average, analysts predict that Infinity Property and Casualty Corporation will post $4.27 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, June 14th. Infinity Property and Casualty Corporation’s dividend payout ratio is presently 55.90%.

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Infinity Property and Casualty Corporation 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.

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