Infinity Property and Casualty Corporation (NASDAQ:IPCC) Lifted to Hold at Zacks Investment Research

Infinity Property and Casualty Corporation (NASDAQ:IPCC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday, November 9th.

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

A number of other equities analysts have also recently commented on the company. UBS AG raised Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, July 13th. Raymond James Financial, Inc. raised Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating and set a $105.00 price target for the company in a report on Thursday, July 13th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $94.00 price objective on shares of Infinity Property and Casualty Corporation in a research report on Friday, July 14th. Finally, BidaskClub upgraded Infinity Property and Casualty Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $107.00.

Shares of Infinity Property and Casualty Corporation (IPCC) traded up $0.10 during midday trading on Thursday, reaching $108.55. The company’s stock had a trading volume of 55,100 shares, compared to its average volume of 39,524. The company has a market cap of $1,185.00, a price-to-earnings ratio of 24.15, a PEG ratio of 2.80 and a beta of 0.82. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.38. Infinity Property and Casualty Corporation has a 1-year low of $83.00 and a 1-year high of $110.00.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last announced its earnings results on Monday, November 6th. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $1.26. The company had revenue of $380.70 million for the quarter, compared to analyst estimates of $339.80 million. Infinity Property and Casualty Corporation 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 period in the prior year, the company posted $0.17 EPS. equities research analysts anticipate that Infinity Property and Casualty Corporation will post 4.31 earnings per share for the current year.

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A number of large investors have recently added to or reduced their stakes in IPCC. Alliancebernstein L.P. raised its stake in Infinity Property and Casualty Corporation by 1.3% in the first quarter. Alliancebernstein L.P. now owns 16,027 shares of the insurance provider’s stock valued at $1,531,000 after buying an additional 200 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Infinity Property and Casualty Corporation by 1.8% during the first quarter. Teachers Advisors LLC now owns 18,047 shares of the insurance provider’s stock worth $1,723,000 after purchasing an additional 324 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Infinity Property and Casualty Corporation by 0.6% during the first quarter. TIAA CREF Investment Management LLC now owns 57,509 shares of the insurance provider’s stock worth $5,492,000 after purchasing an additional 332 shares in the last quarter. Legal & General Group Plc increased its position in shares of Infinity Property and Casualty Corporation by 0.7% during the first quarter. Legal & General Group Plc now owns 19,493 shares of the insurance provider’s stock worth $1,861,000 after purchasing an additional 134 shares in the last quarter. Finally, Vanguard Group Inc. increased its position 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 worth $100,839,000 after purchasing an additional 71,831 shares in the last quarter. Hedge funds and other institutional investors own 96.25% of the company’s stock.

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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