Shares of Infinity Property and Casualty Corp. (NASDAQ:IPCC) gapped up before the market opened on Tuesday . The stock had previously closed at $82.19, but opened at $82.26. Infinity Property and Casualty Corp. shares last traded at $82.86, with a volume of 17,339 shares changing hands.

Separately, Zacks Investment Research raised Infinity Property and Casualty Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 13th.

The company has a market capitalization of $915.99 million, a PE ratio of 20.40 and a beta of 0.59. The company’s 50 day moving average is $82.97 and its 200-day moving average is $79.87.

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Infinity Property and Casualty Corp. (NASDAQ:IPCC) last announced its earnings results on Thursday, August 4th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.23. Infinity Property and Casualty Corp. had a return on equity of 6.42% and a net margin of 3.06%. The business had revenue of $375.10 million for the quarter, compared to analyst estimates of $339.70 million. During the same period in the previous year, the company earned $1.16 earnings per share. On average, analysts predict that Infinity Property and Casualty Corp. will post $3.85 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend is Wednesday, September 14th. Infinity Property and Casualty Corp.’s payout ratio is 51.36%.

Hedge funds have recently made changes to their positions in the company. US Bancorp DE raised its stake in shares of Infinity Property and Casualty Corp. by 8.0% in the second quarter. US Bancorp DE now owns 1,236 shares of the company’s stock worth $100,000 after buying an additional 92 shares during the last quarter. Societe Generale acquired a new stake in shares of Infinity Property and Casualty Corp. during the second quarter worth about $104,000. SG Americas Securities LLC acquired a new stake in shares of Infinity Property and Casualty Corp. during the second quarter worth about $104,000. PineBridge Investments L.P. raised its stake in shares of Infinity Property and Casualty Corp. by 6.0% in the second quarter. PineBridge Investments L.P. now owns 1,402 shares of the company’s stock worth $113,000 after buying an additional 79 shares during the last quarter. Finally, Huntington Asset Advisors Inc. acquired a new stake in shares of Infinity Property and Casualty Corp. during the first quarter worth about $155,000. 97.91% of the stock is currently owned by institutional investors and hedge funds.

Infinity Property and Casualty Corp. Company Profile

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.

5 Day Chart for NASDAQ:IPCC

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