Infinity Property and Casualty Corporation (IPCC) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its position in shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,676 shares of the insurance provider’s stock after buying an additional 22 shares during the period. Wells Fargo & Company MN owned approximately 0.07% of Infinity Property and Casualty Corporation worth $733,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Infinity Property and Casualty Corporation during the fourth quarter worth $19,236,000. Macquarie Group Ltd. increased its stake in shares of Infinity Property and Casualty Corporation by 4.4% in the fourth quarter. Macquarie Group Ltd. now owns 660,496 shares of the insurance provider’s stock valued at $58,058,000 after buying an additional 27,878 shares in the last quarter. State Street Corp increased its stake in shares of Infinity Property and Casualty Corporation by 11.3% in the fourth quarter. State Street Corp now owns 271,862 shares of the insurance provider’s stock valued at $23,898,000 after buying an additional 27,685 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Infinity Property and Casualty Corporation by 7.1% in the fourth quarter. Renaissance Technologies LLC now owns 198,700 shares of the insurance provider’s stock valued at $17,466,000 after buying an additional 13,200 shares in the last quarter. Finally, Guggenheim Capital LLC increased its stake in shares of Infinity Property and Casualty Corporation by 98.9% in the fourth quarter. Guggenheim Capital LLC now owns 24,582 shares of the insurance provider’s stock valued at $2,160,000 after buying an additional 12,225 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) opened at 97.55 on Tuesday. The stock has a market capitalization of $1.08 billion, a PE ratio of 23.50 and a beta of 0.82. Infinity Property and Casualty Corporation has a 12 month low of $73.80 and a 12 month high of $101.70. The company’s 50 day moving average price is $94.91 and its 200 day moving average price is $92.66.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last issued its quarterly earnings data on Thursday, May 4th. The insurance provider reported $0.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.07. The company had revenue of $370.70 million for the quarter, compared to analysts’ expectations of $390.70 million. Infinity Property and Casualty Corporation had a return on equity of 6.21% and a net margin of 2.97%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.68 earnings per share. Equities analysts anticipate that Infinity Property and Casualty Corporation will post $4.27 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date was Wednesday, June 14th. Infinity Property and Casualty Corporation’s payout ratio is 55.90%.

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IPCC has been the subject of several recent analyst reports. Zacks Investment Research raised Infinity Property and Casualty Corporation from a “hold” rating to a “strong-buy” rating and set a $109.00 price target for the company in a report on Wednesday, March 22nd. BidaskClub downgraded Infinity Property and Casualty Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Infinity Property and Casualty Corporation in a research report on Thursday, May 25th. Raymond James Financial, Inc. upgraded Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating and set a $105.00 price target for the company in a research report on Thursday, July 13th. Finally, UBS AG upgraded Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus 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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