Granite Investment Partners LLC increased its position in Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,039 shares of the insurance provider’s stock after buying an additional 3,130 shares during the period. Granite Investment Partners LLC’s holdings in Infinity Property and Casualty Corporation were worth $11,472,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in IPCC. Russell Investments Group Ltd. bought a new stake in shares of Infinity Property and Casualty Corporation during the fourth quarter worth approximately $310,000. Norges Bank bought a new stake in shares of Infinity Property and Casualty Corporation during the fourth quarter worth approximately $19,236,000. Teachers Advisors LLC raised its stake in shares of 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 in the last quarter. Alpha Windward LLC raised its stake in shares of 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 in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 95.41% of the company’s stock.

Shares of Infinity Property and Casualty Corporation (IPCC) opened at 93.70 on Thursday. 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 is $95.58 and its 200 day moving average is $94.24. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 22.57 and a beta of 0.83.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last issued its quarterly earnings results on Thursday, August 3rd. The insurance provider reported $0.34 earnings per share 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 quarter last year, the company posted $0.99 EPS. Infinity Property and Casualty Corporation’s quarterly revenue was down 3.9% compared to the same quarter last year. On average, equities research analysts anticipate that Infinity Property and Casualty Corporation will post $4.03 earnings per share for the current 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 issued a $0.58 dividend. The ex-dividend date is Thursday, September 7th. This represents a $2.32 annualized dividend and a yield of 2.48%. 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 analyst 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 lowered shares of Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. BidaskClub lowered shares of 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 shares of 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 shares of 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 issued a hold rating and two have assigned a buy rating to the company. Infinity Property and Casualty Corporation 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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