Cigna Investments Inc. New purchased a new position in Infinity Property and Casualty Corporation (NASDAQ:IPCC) during the second quarter, Holdings Channel reports. The institutional investor purchased 8,133 shares of the insurance provider’s stock, valued at approximately $765,000.

Several other institutional investors have also recently bought and sold shares of the company. Suntrust Banks Inc. increased its position in Infinity Property and Casualty Corporation by 0.5% in the first quarter. Suntrust Banks Inc. now owns 3,073 shares of the insurance provider’s stock worth $293,000 after buying an additional 16 shares during the last quarter. State of Alaska Department of Revenue increased its position in Infinity Property and Casualty Corporation by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 1,220 shares of the insurance provider’s stock worth $116,000 after buying an additional 20 shares during the last quarter. Wells Fargo & Company MN increased its position in Infinity Property and Casualty Corporation by 0.3% in the first quarter. Wells Fargo & Company MN now owns 7,676 shares of the insurance provider’s stock worth $733,000 after buying an additional 22 shares during the last quarter. Texas Permanent School Fund increased its position in Infinity Property and Casualty Corporation by 0.9% in the second quarter. Texas Permanent School Fund now owns 8,068 shares of the insurance provider’s stock worth $758,000 after buying an additional 75 shares during the last quarter. 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 last quarter. 95.41% of the stock is currently owned by institutional investors and hedge funds.

Shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) opened at 91.55 on Friday. The company’s 50 day moving average price is $95.50 and its 200-day moving average price is $94.28. The stock has a market capitalization of $1.01 billion, a PE ratio of 25.36 and a beta of 0.83. Infinity Property and Casualty Corporation has a 52 week low of $73.80 and a 52 week high of $101.70.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last announced its quarterly earnings results on Thursday, August 3rd. The insurance provider reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.89 by $0.55. The business had revenue of $323.80 million for the quarter, compared to analysts’ expectations of $330 million. Infinity Property and Casualty Corporation had a return on equity of 5.16% and a net margin of 2.58%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share. Equities research analysts predict that Infinity Property and Casualty Corporation will post $4.03 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, September 7th. Infinity Property and Casualty Corporation’s dividend payout ratio (DPR) is 64.09%.

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A number of research firms have recently issued reports on IPCC. Keefe, Bruyette & Woods reissued a “hold” rating and set a $94.00 price target on shares of Infinity Property and Casualty Corporation in a research report on Friday, July 14th. Raymond James Financial, Inc. raised Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a research report on Thursday, July 13th. BidaskClub cut Infinity Property and Casualty Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Zacks Investment Research cut Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Two 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 stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $101.67.

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

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