Infinity Property and Casualty (IPCC) Upgraded to Strong-Buy at Zacks Investment Research
Infinity Property and Casualty (NASDAQ:IPCC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday. The firm currently has a $119.00 target price on the insurance provider’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 13.33% from the stock’s current price.
According to Zacks, “Infinity Property is a property and casualty insurer. “
Several other research firms have also issued reports on IPCC. BidaskClub lowered Infinity Property and Casualty from a “sell” rating to a “strong sell” rating in a research report on Saturday, January 6th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $105.00 price target on shares of Infinity Property and Casualty in a research report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Infinity Property and Casualty has an average rating of “Buy” and an average target price of $109.67.
Infinity Property and Casualty (NASDAQ:IPCC) last posted its quarterly earnings results on Monday, November 6th. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $1.26. Infinity Property and Casualty had a return on equity of 7.02% and a net margin of 3.37%. The business had revenue of $380.70 million for the quarter, compared to analyst estimates of $339.80 million. During the same period last year, the company earned $0.17 EPS. The firm’s revenue was up .7% on a year-over-year basis. sell-side analysts predict that Infinity Property and Casualty will post 4.31 earnings per share for the current year.
Large investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC boosted its position in shares of Infinity Property and Casualty by 4.6% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 46,026 shares of the insurance provider’s stock worth $4,326,000 after purchasing an additional 2,022 shares during the last quarter. Vanguard Group Inc. raised its stake in Infinity Property and Casualty by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,067,932 shares of the insurance provider’s stock worth $100,386,000 after buying an additional 12,025 shares during the period. Teachers Advisors LLC raised its stake in Infinity Property and Casualty by 7.7% during the 2nd quarter. Teachers Advisors LLC now owns 19,445 shares of the insurance provider’s stock worth $1,828,000 after buying an additional 1,398 shares during the period. American Century Companies Inc. acquired a new stake in Infinity Property and Casualty during the 3rd quarter worth $691,000. Finally, Cornerstone Capital Management Holdings LLC. raised its stake in Infinity Property and Casualty by 41.4% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 10,936 shares of the insurance provider’s stock worth $1,027,000 after buying an additional 3,200 shares during the period. Institutional investors and hedge funds own 95.84% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Infinity Property and Casualty (IPCC) Upgraded to Strong-Buy at Zacks Investment Research” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another site, it was illegally stolen and reposted in violation of United States & international copyright laws. The legal version of this story can be accessed at https://www.americanbankingnews.com/2018/01/14/infinity-property-and-casualty-ipcc-upgraded-to-strong-buy-at-zacks-investment-research.html.
About Infinity Property and Casualty
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Infinity Property and Casualty Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinity Property and Casualty and related companies with MarketBeat.com's FREE daily email newsletter.