Infinity Property and Casualty Corporation (NASDAQ:IPCC) has been assigned a consensus broker rating score of 3.00 (Hold) from the three analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and one has issued a buy recommendation on the company. Infinity Property and Casualty Corporation’s rating score has improved by 9.9% from 90 days ago as a result of a number of analysts’ ratings changes.

Brokers have set a twelve-month consensus price objective of $97.00 for the company and are forecasting that the company will post $0.27 EPS for the current quarter, according to Zacks. Zacks has also given Infinity Property and Casualty Corporation an industry rank of 211 out of 265 based on the ratings given to related companies.

A number of brokerages have weighed in on IPCC. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $94.00 price target on shares of Infinity Property and Casualty Corporation in a research report on Friday, July 14th. Raymond James Financial, Inc. raised shares of Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a research report on Thursday, July 13th. BidaskClub cut shares of Infinity Property and Casualty Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research cut shares of Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th.

Infinity Property and Casualty Corporation (NASDAQ IPCC) traded up 2.45% during midday trading on Friday, reaching $85.60. 30,288 shares of the company’s stock were exchanged. The firm has a market capitalization of $944.77 million, a P/E ratio of 23.71 and a beta of 0.86. The stock’s 50 day moving average is $92.80 and its 200 day moving average is $94.57. 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 announced its quarterly earnings results on Thursday, August 3rd. The insurance provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by $0.55. The business had revenue of $323.80 million for the quarter, compared to analyst estimates of $330 million. Infinity Property and Casualty Corporation had a net margin of 2.58% and a return on equity of 5.16%. The company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share. On average, analysts expect that Infinity Property and Casualty Corporation will post $3.75 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.58 per share. The ex-dividend date is Thursday, September 7th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.71%. Infinity Property and Casualty Corporation’s payout ratio is currently 64.09%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its position in shares of Infinity Property and Casualty Corporation by 1.7% during the first quarter. State of Alaska Department of Revenue now owns 1,220 shares of the insurance provider’s stock worth $116,000 after purchasing an additional 20 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Infinity Property and Casualty Corporation during the first quarter worth $162,000. Piedmont Investment Advisors LLC acquired a new position in shares of Infinity Property and Casualty Corporation during the second quarter worth $224,000. Mason Street Advisors LLC lifted its position in shares of Infinity Property and Casualty Corporation by 6.8% during the first quarter. Mason Street Advisors LLC now owns 2,581 shares of the insurance provider’s stock worth $246,000 after purchasing an additional 165 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in shares of Infinity Property and Casualty Corporation during the second quarter worth $262,000. 95.18% of the stock is currently owned by institutional investors and hedge funds.

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About Infinity Property and Casualty Corporation

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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