Infinity Property and Casualty (NASDAQ:IPCC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Friday, January 12th. The brokerage currently has a $119.00 price target on the insurance provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 11.37% from the stock’s previous close.
According to Zacks, “Infinity Property is a property and casualty insurer. “
Several other research firms have also commented on IPCC. BidaskClub lowered shares of Infinity Property and Casualty from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $94.00 price objective on shares of Infinity Property and Casualty in a research note on Thursday, September 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $109.67.
Shares of Infinity Property and Casualty (NASDAQ IPCC) traded up $1.35 during trading hours on Friday, hitting $106.85. 44,000 shares of the stock were exchanged, compared to its average volume of 56,508. The stock has a market capitalization of $1,167.52, a PE ratio of 22.64, a price-to-earnings-growth ratio of 2.01 and a beta of 0.87. Infinity Property and Casualty has a 1-year low of $83.00 and a 1-year high of $110.63. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.38.
Infinity Property and Casualty (NASDAQ:IPCC) last posted its quarterly earnings results on Monday, November 6th. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $1.26. Infinity Property and Casualty had a net margin of 3.37% and a return on equity of 7.02%. The firm had revenue of $380.70 million during the quarter, compared to analysts’ expectations of $339.80 million. During the same period in the prior year, the company posted $0.17 earnings per share. The firm’s revenue for the quarter was up .7% on a year-over-year basis. equities research analysts forecast that Infinity Property and Casualty will post 4.31 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Infinity Property and Casualty by 8.3% during the 2nd quarter. BlackRock Inc. now owns 1,501,114 shares of the insurance provider’s stock worth $141,106,000 after acquiring an additional 114,554 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Infinity Property and Casualty by 8.2% in the 3rd quarter. Macquarie Group Ltd. now owns 760,406 shares of the insurance provider’s stock valued at $71,630,000 after buying an additional 57,870 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Infinity Property and Casualty by 3.9% in the 3rd quarter. Victory Capital Management Inc. now owns 619,037 shares of the insurance provider’s stock valued at $58,313,000 after buying an additional 23,158 shares during the period. AJO LP acquired a new position in shares of Infinity Property and Casualty in the 2nd quarter valued at about $2,102,000. Finally, Shell Asset Management Co. acquired a new position in shares of Infinity Property and Casualty in the 3rd quarter valued at about $1,375,000. 95.65% of the stock is owned by institutional investors and hedge funds.
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Infinity Property and Casualty Company Profile
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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