Trading Report: Today, Analysts give average Rating of “Hold” to Zacks: Infinity Property and Casualty Corp. (IPCC)

Today, Analysts give average Rating of “Hold” to Zacks: Infinity Property and Casualty Corp. (IPCC)

Shares of Infinity Property and Casualty Corp. (NASDAQ:IPCC) have been assigned a consensus broker rating score of 3.00 (Hold) from the three brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. Infinity Property and Casualty Corp.’s rating score has declined by 28.8% from three months ago as a result of a number of analysts’ upgrades and downgrades.

Analysts have set a 1-year consensus price target of $82.67 for the company and are anticipating that the company will post $0.78 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Infinity Property and Casualty Corp. an industry rank of 163 out of 265 based on the ratings given to related companies.

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods assumed coverage on Infinity Property and Casualty Corp. in a research report on Tuesday, November 1st. They set a “market perform” rating and a $89.00 target price for the company. Zacks Investment Research raised Infinity Property and Casualty Corp. from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research note on Wednesday, October 5th.

A number of large investors have recently modified their holdings of the company. Societe Generale purchased a new stake in shares of Infinity Property and Casualty Corp. during the second quarter valued at about $104,000. Cooke & Bieler LP raised its stake in Infinity Property and Casualty Corp. by 0.6% in the second quarter. Cooke & Bieler LP now owns 71,925 shares of the company’s stock worth $5,801,000 after buying an additional 430 shares during the period. Nordea Investment Management AB raised its stake in Infinity Property and Casualty Corp. by 340.5% in the second quarter. Nordea Investment Management AB now owns 8,255 shares of the company’s stock worth $666,000 after buying an additional 6,381 shares during the period. American Century Companies Inc. raised its stake in Infinity Property and Casualty Corp. by 25.6% in the second quarter. American Century Companies Inc. now owns 156,745 shares of the company’s stock worth $12,643,000 after buying an additional 31,982 shares during the period. Finally, Bank of Montreal Can bought a new stake in Infinity Property and Casualty Corp. during the second quarter worth $2,244,000. 97.25% of the stock is owned by hedge funds and other institutional investors.

Infinity Property and Casualty Corp. (NASDAQ:IPCC) traded down 0.06% during midday trading on Friday, reaching $87.55. The company had a trading volume of 4,166 shares. Infinity Property and Casualty Corp. has a one year low of $73.26 and a one year high of $88.72. The stock has a market capitalization of $967.87 million, a price-to-earnings ratio of 29.98 and a beta of 0.64. The company has a 50-day moving average price of $82.84 and a 200-day moving average price of $81.39.

Infinity Property and Casualty Corp. (NASDAQ:IPCC) last posted its earnings results on Thursday, November 3rd. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by $0.83. Infinity Property and Casualty Corp. had a return on equity of 4.38% and a net margin of 2.18%. The business had revenue of $378.10 million for the quarter, compared to analysts’ expectations of $324.30 million. During the same quarter in the previous year, the firm earned $1.41 earnings per share. Infinity Property and Casualty Corp.’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities analysts expect that Infinity Property and Casualty Corp. will post $3.06 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, December 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Wednesday, December 7th. Infinity Property and Casualty Corp.’s dividend payout ratio (DPR) is currently 71.23%.

Infinity Property and Casualty Corp. Company Profile

Infinity Property and Casualty Corporation is a holding company that, through its subsidiaries, provides personal automobile insurance with a focus on the nonstandard market. The Company writes personal automobile insurance with a concentration on nonstandard automobile insurance, mono-line commercial vehicle insurance and classic collector automobile insurance.

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