Infinity Property and Casualty Corporation (NASDAQ:IPCC) declared a quarterly dividend on Thursday, November 2nd, RTT News reports. Investors of record on Friday, December 8th will be paid a dividend of 0.58 per share by the insurance provider on Friday, December 22nd. This represents a $2.32 dividend on an annualized basis and a yield of 2.46%.

Infinity Property and Casualty Corporation has increased its dividend payment by an average of 20.1% per year over the last three years and has increased its dividend every year for the last 9 years. Infinity Property and Casualty Corporation has a dividend payout ratio of 73.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Infinity Property and Casualty Corporation to earn $5.13 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 45.2%.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last released its quarterly earnings results on Thursday, August 3rd. The insurance provider reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.55). The firm had revenue of $323.80 million for the quarter, compared to analysts’ expectations of $330.00 million. Infinity Property and Casualty Corporation had a net margin of 2.58% and a return on equity of 5.16%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.99 earnings per share.

IPCC has been the subject of several research analyst reports. BidaskClub raised shares of Infinity Property and Casualty Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. 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 objective for the company in a research report on Thursday, July 13th. Zacks Investment Research lowered shares of Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $94.00 price objective on shares of Infinity Property and Casualty Corporation in a research report on Thursday, September 21st. Finally, UBS AG raised shares of Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Infinity Property and Casualty Corporation currently has an average rating of “Hold” and an average target price of $99.50.

WARNING: “Infinity Property and Casualty Corporation (IPCC) to Issue Quarterly Dividend of $0.58” was first reported by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://www.americanbankingnews.com/2017/11/02/infinity-property-and-casualty-corporation-ipcc-to-issue-quarterly-dividend-of-0-58.html.

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.

Dividend History for Infinity Property and Casualty Corporation (NASDAQ:IPCC)

Receive News & Ratings for Infinity Property and Casualty Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinity Property and Casualty Corporation and related companies with MarketBeat.com's FREE daily email newsletter.