Zacks: Brokerages Set $103.50 Price Target for Infinity Property and Casualty Corp. (IPCC)

Infinity Property and Casualty Corp. (NASDAQ:IPCC) has been assigned an average broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a sell rating and one has given a buy rating to the company.

Brokers have set a 1 year consensus target price of $103.50 for the company and are predicting that the company will post $1.47 EPS for the current quarter, according to Zacks. Zacks has also assigned Infinity Property and Casualty an industry rank of 45 out of 265 based on the ratings given to related companies.

Several equities research analysts have issued reports on IPCC shares. BidaskClub lowered shares of Infinity Property and Casualty from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. Zacks Investment Research upgraded shares of Infinity Property and Casualty from a “hold” rating to a “strong-buy” rating and set a $122.00 price target on the stock in a research note on Wednesday, November 15th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $105.00 price target on shares of Infinity Property and Casualty in a research note on Friday, December 22nd.

Shares of Infinity Property and Casualty (NASDAQ IPCC) opened at $104.35 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.48 and a quick ratio of 0.48. Infinity Property and Casualty has a 52 week low of $83.00 and a 52 week high of $110.62. The stock has a market cap of $1,120.00, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 1.99 and a beta of 0.87.

Infinity Property and Casualty (NASDAQ:IPCC) last issued its quarterly earnings results on Monday, November 6th. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $1.26. Infinity Property and Casualty had a net margin of 3.37% and a return on equity of 7.02%. The firm had revenue of $380.70 million for the quarter, compared to analyst estimates of $339.80 million. During the same period in the previous year, the business earned $0.17 EPS. The company’s revenue was up .7% compared to the same quarter last year. equities research analysts anticipate that Infinity Property and Casualty will post 4.11 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new position in shares of Infinity Property and Casualty during the 4th quarter worth about $4,408,000. Schwab Charles Investment Management Inc. increased its stake in shares of Infinity Property and Casualty by 3.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 81,104 shares of the insurance provider’s stock worth $8,598,000 after purchasing an additional 2,524 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Infinity Property and Casualty by 21.4% during the 3rd quarter. California Public Employees Retirement System now owns 19,425 shares of the insurance provider’s stock worth $1,830,000 after purchasing an additional 3,425 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Infinity Property and Casualty by 49.6% during the 3rd quarter. Wells Fargo & Company MN now owns 13,258 shares of the insurance provider’s stock worth $1,249,000 after purchasing an additional 4,393 shares during the last quarter. Finally, Citadel Advisors LLC increased its stake in shares of Infinity Property and Casualty by 259.2% during the 3rd quarter. Citadel Advisors LLC now owns 10,029 shares of the insurance provider’s stock worth $945,000 after purchasing an additional 7,237 shares during the last quarter. Institutional investors own 95.65% 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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