UBS Asset Management Americas Inc. Maintains Position in Infinity Property and Casualty Corporation (NASDAQ:IPCC)

UBS Asset Management Americas Inc. maintained its stake in shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,658 shares of the insurance provider’s stock at the end of the first quarter. UBS Asset Management Americas Inc.’s holdings in Infinity Property and Casualty Corporation were worth $254,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Suntrust Banks Inc. boosted its position in Infinity Property and Casualty Corporation by 0.5% in the first quarter. Suntrust Banks Inc. now owns 3,073 shares of the insurance provider’s stock worth $293,000 after buying an additional 16 shares during the period. State of Alaska Department of Revenue boosted its position in Infinity Property and Casualty Corporation by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 1,220 shares of the insurance provider’s stock worth $116,000 after buying an additional 20 shares during the period. Wells Fargo & Company MN boosted its position in Infinity Property and Casualty Corporation by 0.3% in the first quarter. Wells Fargo & Company MN now owns 7,676 shares of the insurance provider’s stock worth $733,000 after buying an additional 22 shares during the period. Alpha Windward LLC boosted its position in Infinity Property and Casualty Corporation by 1.1% in the first quarter. Alpha Windward LLC now owns 5,400 shares of the insurance provider’s stock worth $516,000 after buying an additional 60 shares during the period. Finally, Louisiana State Employees Retirement System boosted its position in Infinity Property and Casualty Corporation by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 4,500 shares of the insurance provider’s stock worth $430,000 after buying an additional 100 shares during the period. 94.63% of the stock is currently owned by institutional investors and hedge funds.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) opened at 91.35 on Friday. The company has a market cap of $1.01 billion, a PE ratio of 25.30 and a beta of 0.83. Infinity Property and Casualty Corporation has a one year low of $73.80 and a one year high of $101.70. The stock has a 50 day moving average price of $95.17 and a 200 day moving average price of $94.44.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last posted its earnings results on Thursday, August 3rd. The insurance provider reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by $0.55. Infinity Property and Casualty Corporation had a return on equity of 5.16% and a net margin of 2.58%. The firm had revenue of $323.80 million during the quarter, compared to analysts’ expectations of $330 million. During the same quarter in the prior year, the company earned $0.99 earnings per share. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities analysts anticipate that Infinity Property and Casualty Corporation will post $3.73 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.54%. The ex-dividend date is Thursday, September 7th. Infinity Property and Casualty Corporation’s dividend payout ratio is presently 64.09%.

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A number of equities analysts have issued reports on IPCC shares. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Infinity Property and Casualty Corporation in a report on Thursday, May 25th. Zacks Investment Research cut Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. BidaskClub cut Infinity Property and Casualty Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. UBS AG upgraded Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, July 13th. Finally, Raymond James Financial, Inc. upgraded Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating and set a $105.00 target price for the company in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $101.67.

About Infinity Property and Casualty Corporation

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.

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

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