Zacks Investment Research Lowers Infinity Property and Casualty Corporation (IPCC) to Strong Sell

Zacks Investment Research lowered shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) from a hold rating to a strong sell rating in a research report report published on Tuesday.

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

IPCC has been the subject of several other reports. Raymond James Financial, Inc. cut shares of Infinity Property and Casualty Corporation from an outperform rating to a mkt perform rating in a research note on Friday, January 20th. Keefe, Bruyette & Woods began coverage on shares of Infinity Property and Casualty Corporation in a research note on Tuesday, November 1st. They set a market perform rating and a $89.00 price objective for the company.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) opened at 89.50 on Tuesday. The company’s 50 day moving average is $87.37 and its 200-day moving average is $84.85. The company has a market cap of $989.42 million, a price-to-earnings ratio of 30.65 and a beta of 0.65. Infinity Property and Casualty Corporation has a 12 month low of $73.80 and a 12 month high of $90.50.

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In other Infinity Property and Casualty Corporation news, VP Samuel J. Simon sold 4,500 shares of Infinity Property and Casualty Corporation stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $86.44, for a total transaction of $388,980.00. Following the completion of the sale, the vice president now directly owns 74,392 shares in the company, valued at approximately $6,430,444.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 3.28% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Suntrust Banks Inc. boosted its stake in shares of Infinity Property and Casualty Corporation by 2.1% in the third quarter. Suntrust Banks Inc. now owns 3,005 shares of the company’s stock valued at $247,000 after buying an additional 62 shares during the last quarter. BlackRock Inc. raised its position in Infinity Property and Casualty Corporation by 22.7% in the third quarter. BlackRock Inc. now owns 3,135 shares of the company’s stock valued at $259,000 after buying an additional 581 shares during the period. Russell Investments Group Ltd. purchased a new position in Infinity Property and Casualty Corporation during the fourth quarter valued at $310,000. Trexquant Investment LP purchased a new position in Infinity Property and Casualty Corporation during the fourth quarter valued at $328,000. Finally, Wells Fargo & Company MN raised its position in Infinity Property and Casualty Corporation by 22.1% in the third quarter. Wells Fargo & Company MN now owns 4,281 shares of the company’s stock valued at $354,000 after buying an additional 776 shares during the period. Institutional investors and hedge funds own 97.34% of the company’s stock.

About Infinity Property and Casualty Corporation

Infinity Property and Casualty Corporation is a holding company that, through its subsidiaries, provides personal automobile insurance with a focus on the nonstandard market. The Company writes personal automobile insurance with a concentration on nonstandard automobile insurance, mono-line commercial vehicle insurance and classic collector automobile insurance.

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