Bank of Montreal Can boosted its position in Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,879 shares of the insurance provider’s stock after buying an additional 55 shares during the period. Bank of Montreal Can’s holdings in Infinity Property and Casualty Corporation were worth $2,621,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of IPCC. Russell Investments Group Ltd. purchased a new position in Infinity Property and Casualty Corporation during the fourth quarter worth approximately $310,000. Norges Bank purchased a new position in Infinity Property and Casualty Corporation during the fourth quarter worth approximately $19,236,000. Teachers Advisors LLC increased its position in Infinity Property and Casualty Corporation by 2.5% in the fourth quarter. Teachers Advisors LLC now owns 17,723 shares of the insurance provider’s stock worth $1,558,000 after buying an additional 427 shares during the period. Alpha Windward LLC increased 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 increased 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. Institutional investors and hedge funds own 95.41% of the company’s stock.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) traded down 0.64% during trading on Thursday, reaching $93.10. The company had a trading volume of 2,987 shares. The stock has a market cap of $1.03 billion, a P/E ratio of 25.79 and a beta of 0.83. Infinity Property and Casualty Corporation has a 12-month low of $73.80 and a 12-month high of $101.70. The firm has a 50-day moving average price of $95.58 and a 200 day moving average price of $94.24.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last posted its quarterly 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 business had revenue of $323.80 million during the quarter, compared to analyst estimates of $330 million. During the same period last year, the company earned $0.99 EPS. The business’s revenue for the quarter was down 3.9% on a year-over-year basis. Equities research analysts predict that Infinity Property and Casualty Corporation will post $4.03 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.48%. The ex-dividend date is Thursday, September 7th. Infinity Property and Casualty Corporation’s dividend payout ratio (DPR) is presently 64.09%.

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IPCC has been the subject of a number of research reports. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Infinity Property and Casualty Corporation in a research note on Thursday, May 25th. Zacks Investment Research downgraded Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. BidaskClub downgraded Infinity Property and Casualty Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. UBS AG upgraded Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a research note 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 price target for the company in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target 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.

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

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