Infinity Property and Casualty Corp. (IPCC) Position Reduced by Northern Trust Corp

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Northern Trust Corp cut its holdings in Infinity Property and Casualty Corp. (NASDAQ:IPCC) by 6.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 154,879 shares of the insurance provider’s stock after selling 9,978 shares during the period. Northern Trust Corp owned 1.42% of Infinity Property and Casualty worth $18,338,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in IPCC. Meeder Asset Management Inc. lifted its holdings in Infinity Property and Casualty by 350.5% in the first quarter. Meeder Asset Management Inc. now owns 982 shares of the insurance provider’s stock valued at $117,000 after acquiring an additional 764 shares during the last quarter. Wolverine Trading LLC acquired a new position in Infinity Property and Casualty in the fourth quarter valued at approximately $349,000. Jefferies Group LLC acquired a new position in Infinity Property and Casualty in the fourth quarter valued at approximately $363,000. Teacher Retirement System of Texas acquired a new position in Infinity Property and Casualty in the fourth quarter valued at approximately $405,000. Finally, Stone Ridge Asset Management LLC acquired a new position in Infinity Property and Casualty in the fourth quarter valued at approximately $479,000. Hedge funds and other institutional investors own 91.16% of the company’s stock.

Infinity Property and Casualty opened at $140.45 on Thursday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.47 and a current ratio of 0.47. Infinity Property and Casualty Corp. has a 52 week low of $83.00 and a 52 week high of $150.65. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 2.52 and a beta of 0.61.

Infinity Property and Casualty (NASDAQ:IPCC) last released its quarterly earnings results on Monday, April 30th. The insurance provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.80. Infinity Property and Casualty had a return on equity of 9.22% and a net margin of 3.58%. The company had revenue of $364.20 million for the quarter, compared to analysts’ expectations of $395.50 million. analysts anticipate that Infinity Property and Casualty Corp. will post 6.3 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Thursday, June 14th. Infinity Property and Casualty’s dividend payout ratio (DPR) is 47.44%.

IPCC has been the topic of a number of research reports. BidaskClub cut Infinity Property and Casualty from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 19th. ValuEngine upgraded Infinity Property and Casualty from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Zacks Investment Research cut Infinity Property and Casualty from a “buy” rating to a “hold” rating in a research note on Tuesday, March 27th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $125.00.

Infinity Property and Casualty Company 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 and Casualty (NASDAQ:IPCC)

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