AQR Capital Management LLC Has $7.52 Million Position in Infinity Property and Casualty Corporation (NASDAQ:IPCC)

AQR Capital Management LLC cut its stake in shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 14.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,755 shares of the insurance provider’s stock after selling 13,151 shares during the period. AQR Capital Management LLC owned approximately 0.71% of Infinity Property and Casualty Corporation worth $7,521,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in IPCC. Russell Investments Group Ltd. acquired a new stake in shares of Infinity Property and Casualty Corporation during the fourth quarter valued at about $310,000. Comerica Bank increased its stake in shares of Infinity Property and Casualty Corporation by 3.2% in the fourth quarter. Comerica Bank now owns 11,742 shares of the insurance provider’s stock valued at $1,021,000 after buying an additional 362 shares during the period. State Street Corp increased its stake in shares of Infinity Property and Casualty Corporation by 11.3% in the fourth quarter. State Street Corp now owns 271,862 shares of the insurance provider’s stock valued at $23,898,000 after buying an additional 27,685 shares during the period. Guggenheim Capital LLC increased its stake in shares of Infinity Property and Casualty Corporation by 98.9% in the fourth quarter. Guggenheim Capital LLC now owns 24,582 shares of the insurance provider’s stock valued at $2,160,000 after buying an additional 12,225 shares during the period. Finally, Norges Bank acquired a new stake in shares of Infinity Property and Casualty Corporation during the fourth quarter valued at about $19,236,000. 96.03% of the stock is currently owned by hedge funds and other institutional investors.

Infinity Property and Casualty Corporation (NASDAQ IPCC) traded down 0.20% during mid-day trading on Friday, hitting $98.35. The stock had a trading volume of 32,173 shares. The firm’s 50-day moving average price is $94.73 and its 200-day moving average price is $93.30. Infinity Property and Casualty Corporation has a 1-year low of $73.80 and a 1-year high of $101.70. The stock has a market cap of $1.09 billion, a PE ratio of 23.69 and a beta of 0.82.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last posted its earnings results on Thursday, May 4th. The insurance provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates 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 business 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 posted $0.68 EPS. The firm’s revenue was down 1.4% on a year-over-year basis. On average, equities analysts expect that Infinity Property and Casualty Corporation will post $4.27 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Wednesday, June 14th. Infinity Property and Casualty Corporation’s dividend payout ratio (DPR) is presently 55.90%.

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A number of research analysts recently issued reports on the company. BidaskClub upgraded Infinity Property and Casualty Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $94.00 price objective on shares of Infinity Property and Casualty Corporation in a report on Friday, July 14th. Raymond James Financial, Inc. upgraded 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 report on Thursday, July 13th. UBS AG upgraded Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 13th. Finally, Zacks Investment Research downgraded Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $101.67.

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.

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

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