Infinity Property & Casualty Co. (IPCC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in shares of Infinity Property & Casualty Co. (NASDAQ:IPCC) by 31.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 213,890 shares of the insurance provider’s stock after selling 99,542 shares during the period. Victory Capital Management Inc. owned about 1.96% of Infinity Property & Casualty worth $25,325,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of IPCC. Wells Fargo & Company MN grew its holdings in shares of Infinity Property & 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 acquiring an additional 4,393 shares during the period. California Public Employees Retirement System grew its holdings in shares of Infinity Property & 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 acquiring an additional 3,425 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Infinity Property & 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 acquiring an additional 2,524 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Infinity Property & Casualty during the 4th quarter worth approximately $4,408,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Infinity Property & Casualty during the 4th quarter worth approximately $192,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Infinity Property & Casualty opened at $141.65 on Friday, MarketBeat Ratings reports. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $1.54 billion, a P/E ratio of 23.44, a P/E/G ratio of 2.56 and a beta of 0.59. Infinity Property & Casualty Co. has a twelve month low of $138.85 and a twelve month high of $139.65.

Infinity Property & Casualty (NASDAQ:IPCC) last posted its quarterly earnings results on Tuesday, February 13th. The insurance provider reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.78. The company had revenue of $356.10 million for the quarter, compared to the consensus estimate of $346.40 million. Infinity Property & Casualty had a return on equity of 9.22% and a net margin of 3.58%. analysts expect that Infinity Property & Casualty Co. will post 6.1 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be paid a $0.58 dividend. The ex-dividend date is Thursday, June 14th. This represents a $2.32 annualized dividend and a dividend yield of 1.64%. Infinity Property & Casualty’s payout ratio is currently 47.44%.

A number of research analysts have weighed in on IPCC shares. BidaskClub upgraded Infinity Property & Casualty from a “sell” rating to a “hold” rating in a report on Wednesday, March 21st. ValuEngine upgraded Infinity Property & Casualty from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research downgraded Infinity Property & Casualty from a “buy” rating to a “hold” rating in a report on Tuesday, March 27th. Finally, Keefe, Bruyette & Woods set a $121.00 target price on Infinity Property & Casualty and gave the stock a “hold” rating in a report on Tuesday, February 13th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $125.00.

Infinity Property & Casualty Profile

Infinity Property and Casualty Corporation, through its subsidiaries, provides personal auto insurance products in the United States. The company offers nonstandard, commercial, and classic collector auto insurance products. It also provides reinsurance products and services. The company distributes its products primarily through a network of independent agencies and brokers.

Institutional Ownership by Quarter for Infinity Property & Casualty (NASDAQ:IPCC)

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