Today The Infinity Property and Casualty Corporation (IPCC) Downgraded by Zacks Investment Research to Hold

Today The Infinity Property and Casualty Corporation (IPCC) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research lowered shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) from a buy rating to a hold rating in a research report report published on Tuesday.

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

A number of other equities research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods started coverage on shares of Infinity Property and Casualty Corporation in a report on Tuesday, November 1st. They issued a market perform rating and a $89.00 price objective on the stock. Raymond James Financial, Inc. cut shares of Infinity Property and Casualty Corporation from an outperform rating to a mkt perform rating in a report on Friday, January 20th.

Shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) traded up 1.514% on Tuesday, reaching $88.825. The company had a trading volume of 1,990 shares. The company has a market capitalization of $981.96 million, a PE ratio of 30.420 and a beta of 0.65. The company’s 50-day moving average is $87.95 and its 200-day moving average is $84.26. Infinity Property and Casualty Corporation has a one year low of $73.27 and a one year high of $90.50.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last released its quarterly earnings results on Thursday, November 3rd. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by $0.83. Infinity Property and Casualty Corporation had a return on equity of 4.38% and a net margin of 2.18%. The company earned $378.10 million during the quarter, compared to the consensus estimate of $324.30 million. During the same period in the previous year, the company earned $1.41 earnings per share. Infinity Property and Casualty Corporation’s quarterly revenue was up 1.5% on a year-over-year basis. Equities research analysts predict that Infinity Property and Casualty Corporation will post $2.55 earnings per share for the current year.

In other news, VP Samuel J. Simon sold 4,500 shares of the stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $86.44, for a total transaction of $388,980.00. Following the sale, the vice president now owns 74,392 shares in the company, valued at $6,430,444.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.28% of the company’s stock.

A number of large investors have recently modified their holdings of the company. Bank of Montreal Can bought a new stake in shares of Infinity Property and Casualty Corporation during the second quarter valued at about $2,244,000. American Century Companies Inc. boosted its stake in shares of Infinity Property and Casualty Corporation by 25.6% in the second quarter. American Century Companies Inc. now owns 156,745 shares of the company’s stock valued at $12,643,000 after buying an additional 31,982 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Infinity Property and Casualty Corporation by 340.5% in the second quarter. Nordea Investment Management AB now owns 8,255 shares of the company’s stock valued at $666,000 after buying an additional 6,381 shares in the last quarter. Cooke & Bieler LP boosted its stake in shares of Infinity Property and Casualty Corporation by 0.6% in the second quarter. Cooke & Bieler LP now owns 71,925 shares of the company’s stock valued at $5,801,000 after buying an additional 430 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Infinity Property and Casualty Corporation during the second quarter valued at about $861,000. Institutional investors own 97.33% of the company’s stock.

About Infinity Property and Casualty Corporation

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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