Infinity Property and Casualty Corporation (NASDAQ:IPCC) Stake Lessened by Citigroup Inc.

Citigroup Inc. reduced its stake in Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 15.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,605 shares of the insurance provider’s stock after selling 1,697 shares during the period. Citigroup Inc. owned 0.09% of Infinity Property and Casualty Corporation worth $903,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of IPCC. BlackRock Inc. grew its holdings in shares of Infinity Property and Casualty Corporation by 8.3% during the second quarter. BlackRock Inc. now owns 1,501,114 shares of the insurance provider’s stock valued at $141,106,000 after buying an additional 114,554 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Infinity Property and Casualty Corporation by 7.3% during the first quarter. Vanguard Group Inc. now owns 1,055,907 shares of the insurance provider’s stock valued at $100,839,000 after buying an additional 71,831 shares during the last quarter. Macquarie Group Ltd. grew its holdings in shares of Infinity Property and Casualty Corporation by 3.5% during the first quarter. Macquarie Group Ltd. now owns 683,802 shares of the insurance provider’s stock valued at $65,303,000 after buying an additional 23,306 shares during the last quarter. State Street Corp grew its holdings in shares of Infinity Property and Casualty Corporation by 4.6% during the first quarter. State Street Corp now owns 284,249 shares of the insurance provider’s stock valued at $27,150,000 after buying an additional 12,387 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Infinity Property and Casualty Corporation by 4.7% during the first quarter. Renaissance Technologies LLC now owns 208,100 shares of the insurance provider’s stock valued at $19,874,000 after buying an additional 9,400 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on IPCC shares. UBS AG upgraded shares of Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, July 13th. Zacks Investment Research cut shares of Infinity Property and Casualty Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. BidaskClub cut shares of Infinity Property and Casualty Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $94.00 target price on shares of Infinity Property and Casualty Corporation in a research note on Thursday, September 21st. Finally, Raymond James Financial, Inc. upgraded shares of Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating and set a $105.00 target price on the stock in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $99.50.

Shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) opened at 93.80 on Tuesday. Infinity Property and Casualty Corporation has a 12 month low of $73.80 and a 12 month high of $101.70. The firm’s 50-day moving average is $91.00 and its 200 day moving average is $94.20. The stock has a market cap of $1.04 billion, a PE ratio of 25.98 and a beta of 0.85.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last released its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $0.34 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $323.80 million during the quarter, compared to analysts’ expectations of $330.00 million. During the same quarter in the prior year, the company posted $0.99 EPS. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. On average, equities analysts predict that Infinity Property and Casualty Corporation will post $2.76 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were given a $0.58 dividend. The ex-dividend date was Thursday, September 7th. This represents a $2.32 annualized dividend and a yield of 2.47%. Infinity Property and Casualty Corporation’s dividend payout ratio is presently 64.09%.

TRADEMARK VIOLATION WARNING: This article was published by BBNS and is owned by of BBNS. If you are viewing this article on another domain, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this article can be viewed at https://baseballnewssource.com/markets/citigroup-inc-cuts-position-in-infinity-property-and-casualty-corporation-ipcc/1698095.html.

Infinity Property and Casualty Corporation 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.

Institutional Ownership by Quarter for Infinity Property and Casualty Corporation (NASDAQ:IPCC)

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

 


Latest News

Aaron Judge and Gary Sanchez Have Break Out Games
Aaron Judge and Gary Sanchez Have Break Out Games
Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends
PED Use Cost Alex Rodriguez Millions and His Reputation
PED Use Cost Alex Rodriguez Millions and His Reputation
Yankees to Send Masahiro Tanaka Against Astros in Game 1
Yankees to Send Masahiro Tanaka Against Astros in Game 1
Red Sox Waste Little Time in Firing John Farrell
Red Sox Waste Little Time in Firing John Farrell
Washington Nationals Sans Strasburg for Game 4 at Wrigley
Washington Nationals Sans Strasburg for Game 4 at Wrigley


Leave a Reply

 
© 2006-2017 BBNS.