Infinity Property and Casualty Corporation (NASDAQ:IPCC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

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

Several other brokerages have also recently issued reports on IPCC. BidaskClub raised Infinity Property and Casualty Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $94.00 target price on shares of Infinity Property and Casualty Corporation in a report on Friday, July 14th. Raymond James Financial, Inc. raised 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 report on Thursday, July 13th. Finally, UBS AG raised Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $101.67.

Infinity Property and Casualty Corporation (IPCC) traded up 0.43% during mid-day trading on Tuesday, hitting $92.65. The company had a trading volume of 34,452 shares. The firm’s 50 day moving average is $95.74 and its 200 day moving average is $94.05. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 22.32 and a beta of 0.83. Infinity Property and Casualty Corporation has a 52 week low of $73.80 and a 52 week high of $101.70.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last issued its earnings results on Thursday, August 3rd. The insurance provider reported $0.34 earnings per share (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 firm had revenue of $323.80 million during the quarter, compared to the consensus estimate of $330 million. During the same period last year, the firm posted $0.99 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities research analysts predict that Infinity Property and Casualty Corporation will post $4.27 EPS for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IPCC. State of Alaska Department of Revenue raised its position in Infinity Property and Casualty Corporation by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 1,220 shares of the insurance provider’s stock valued at $116,000 after buying an additional 20 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Infinity Property and Casualty Corporation during the first quarter valued at approximately $162,000. Arxis Securities LLC bought a new position in Infinity Property and Casualty Corporation during the first quarter valued at approximately $208,000. Mason Street Advisors LLC raised its position in Infinity Property and Casualty Corporation by 6.8% in the first quarter. Mason Street Advisors LLC now owns 2,581 shares of the insurance provider’s stock valued at $246,000 after buying an additional 165 shares in the last quarter. Finally, Suntrust Banks Inc. raised its position in Infinity Property and Casualty Corporation by 0.5% in the first quarter. Suntrust Banks Inc. now owns 3,073 shares of the insurance provider’s stock valued at $293,000 after buying an additional 16 shares in the last quarter. Institutional investors own 95.41% 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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