Dean Capital Management Acquires 7,520 Shares of Infinity Property and Casualty Corporation (IPCC)

Dean Capital Management boosted its holdings in shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 40.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,332 shares of the insurance provider’s stock after purchasing an additional 7,520 shares during the period. Dean Capital Management owned approximately 0.24% of Infinity Property and Casualty Corporation worth $2,476,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Infinity Property and Casualty Corporation by 8.3% during the second quarter. BlackRock Inc. now owns 1,501,114 shares of the insurance provider’s stock valued at $141,106,000 after purchasing an additional 114,554 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Infinity Property and Casualty Corporation by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,067,932 shares of the insurance provider’s stock valued at $100,386,000 after acquiring an additional 12,025 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Infinity Property and Casualty Corporation by 2.7% in the 2nd quarter. Macquarie Group Ltd. now owns 702,536 shares of the insurance provider’s stock valued at $66,038,000 after acquiring an additional 18,734 shares in the last quarter. State Street Corp lifted its position in shares of Infinity Property and Casualty Corporation by 3.6% in the 2nd quarter. State Street Corp now owns 294,564 shares of the insurance provider’s stock valued at $27,688,000 after acquiring an additional 10,315 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Infinity Property and Casualty Corporation by 4.8% in the 2nd quarter. Renaissance Technologies LLC now owns 218,100 shares of the insurance provider’s stock valued at $20,501,000 after acquiring an additional 10,000 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Shares of Infinity Property and Casualty Corporation (NASDAQ IPCC) traded up 1.18% on Friday, hitting $93.95. 7,159 shares of the stock traded hands. Infinity Property and Casualty Corporation has a 52 week low of $73.80 and a 52 week high of $101.70. The firm has a market capitalization of $1.04 billion, a PE ratio of 26.02 and a beta of 0.86. The firm’s 50 day moving average is $91.01 and its 200 day moving average is $94.21.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last announced its quarterly earnings data on Thursday, August 3rd. The insurance provider reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.55). The business had revenue of $323.80 million during the quarter, compared to the consensus estimate of $330.00 million. Infinity Property and Casualty Corporation had a return on equity of 5.16% and a net margin of 2.58%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 EPS. On average, analysts expect that Infinity Property and Casualty Corporation will post $3.75 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Thursday, September 7th. Infinity Property and Casualty Corporation’s dividend payout ratio is presently 64.09%.

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Several equities research analysts recently commented on IPCC shares. UBS AG upgraded shares of Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 13th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $94.00 price objective on shares of Infinity Property and Casualty Corporation in a research note on Friday, July 14th. Zacks Investment Research lowered shares of Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. BidaskClub lowered shares of Infinity Property and Casualty Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Raymond James Financial, Inc. upgraded shares of Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating and set a $105.00 price objective on the stock in a research note on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $99.50.

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.

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

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