Infinity Property and Casualty (IPCC) Rating Increased to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Infinity Property and Casualty (NASDAQ:IPCC) from a hold rating to a strong-buy rating in a report issued on Wednesday, November 15th. They currently have $122.00 price objective on the insurance provider’s stock.

According to Zacks, “Infinity Property is a property and casualty insurer. “

Other research analysts have also recently issued reports about the company. BidaskClub raised Infinity Property and Casualty from a strong sell rating to a sell rating in a report on Wednesday, July 19th. Keefe, Bruyette & Woods reissued 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned 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 an average price target of $107.00.

Shares of Infinity Property and Casualty (IPCC) opened at $107.15 on Wednesday. The stock has a market capitalization of $1,170.83, a PE ratio of 23.86, a price-to-earnings-growth ratio of 2.77 and a beta of 0.86. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.48 and a current ratio of 0.48. Infinity Property and Casualty has a 52 week low of $83.00 and a 52 week high of $110.63.

Infinity Property and Casualty (NASDAQ:IPCC) last announced its quarterly earnings data on Monday, November 6th. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $1.26. The company had revenue of $380.70 million during the quarter, compared to the consensus estimate of $339.80 million. Infinity Property and Casualty had a return on equity of 7.02% and a net margin of 3.37%. The firm’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 EPS. equities research analysts anticipate that Infinity Property and Casualty will post 4.31 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $2.32 dividend on an annualized basis and a yield of 2.17%. Infinity Property and Casualty’s dividend payout ratio is presently 49.15%.

Several institutional investors and hedge funds have recently modified their holdings of IPCC. Alliancebernstein L.P. raised its holdings in shares of Infinity Property and Casualty by 1.3% during the 1st quarter. Alliancebernstein L.P. now owns 16,027 shares of the insurance provider’s stock worth $1,531,000 after acquiring an additional 200 shares in the last quarter. Teachers Advisors LLC raised its holdings in shares of Infinity Property and Casualty by 1.8% during the 1st quarter. Teachers Advisors LLC now owns 18,047 shares of the insurance provider’s stock worth $1,723,000 after acquiring an additional 324 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Infinity Property and Casualty by 0.6% during the 1st quarter. TIAA CREF Investment Management LLC now owns 57,509 shares of the insurance provider’s stock worth $5,492,000 after acquiring an additional 332 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Infinity Property and Casualty by 0.7% during the 1st quarter. Legal & General Group Plc now owns 19,493 shares of the insurance provider’s stock worth $1,861,000 after acquiring an additional 134 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Infinity Property and Casualty by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 1,055,907 shares of the insurance provider’s stock worth $100,839,000 after acquiring an additional 71,831 shares in the last quarter. 95.88% of the stock is currently owned by institutional investors and hedge funds.

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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.

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