Infinity Property and Casualty (IPCC) Stock Rating Lowered by BidaskClub

Infinity Property and Casualty (NASDAQ:IPCC) was downgraded by BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Saturday.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Infinity Property and Casualty from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $94.00 price target on shares of Infinity Property and Casualty in a report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Infinity Property and Casualty presently has an average rating of “Buy” and a consensus target price of $110.67.

Infinity Property and Casualty (NASDAQ:IPCC) traded down $0.50 during trading hours on Friday, reaching $103.05. 36,702 shares of the company traded hands, compared to its average volume of 46,590. The company has a market capitalization of $1,131.46, a PE ratio of 21.83, a P/E/G ratio of 2.11 and a beta of 0.87. Infinity Property and Casualty has a twelve month low of $83.00 and a twelve month high of $110.63. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.38.

Infinity Property and Casualty (NASDAQ:IPCC) last released its quarterly earnings results on Monday, November 6th. The insurance provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $0.12 by $1.26. The business had revenue of $380.70 million for the quarter, compared to analysts’ expectations of $339.80 million. Infinity Property and Casualty had a net margin of 3.37% and a return on equity of 7.02%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.17 earnings per share. analysts predict that Infinity Property and Casualty will post 4.31 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in IPCC. BlackRock Inc. boosted its holdings in shares of Infinity Property and Casualty by 8.3% during the 2nd quarter. BlackRock Inc. now owns 1,501,114 shares of the insurance provider’s stock valued at $141,106,000 after buying an additional 114,554 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Infinity Property and Casualty by 8.2% during the 3rd quarter. Macquarie Group Ltd. now owns 760,406 shares of the insurance provider’s stock valued at $71,630,000 after buying an additional 57,870 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Infinity Property and Casualty by 3.9% during the 3rd quarter. Victory Capital Management Inc. now owns 619,037 shares of the insurance provider’s stock valued at $58,313,000 after buying an additional 23,158 shares in the last quarter. AJO LP bought a new stake in shares of Infinity Property and Casualty during the 2nd quarter valued at $2,102,000. Finally, Shell Asset Management Co. bought a new stake in shares of Infinity Property and Casualty during the 3rd quarter valued at $1,375,000. Hedge funds and other institutional investors own 95.84% of the company’s stock.

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Infinity Property and Casualty 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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