TD Asset Management Inc. cut its stake in shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 15.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,986 shares of the insurance provider’s stock after selling 2,740 shares during the period. TD Asset Management Inc. owned about 0.14% of Infinity Property and Casualty Corporation worth $1,409,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. State of Alaska Department of Revenue increased its stake in shares of 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 valued at $116,000 after buying an additional 20 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Infinity Property and Casualty Corporation during the first quarter valued at approximately $162,000. Arxis Securities LLC purchased a new stake in shares of Infinity Property and Casualty Corporation during the first quarter valued at approximately $208,000. Mason Street Advisors LLC increased its stake in shares of Infinity Property and Casualty Corporation by 6.8% in the first quarter. Mason Street Advisors LLC now owns 2,581 shares of the insurance provider’s stock valued at $246,000 after buying an additional 165 shares in the last quarter. Finally, Suntrust Banks Inc. increased its stake in shares of 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 valued at $293,000 after buying an additional 16 shares in the last quarter. Institutional investors own 94.63% of the company’s stock.

Shares of Infinity Property and Casualty Corporation (IPCC) opened at 92.05 on Friday. The company has a market capitalization of $1.02 billion, a PE ratio of 25.50 and a beta of 0.83. The stock has a 50 day moving average price of $94.88 and a 200-day moving average price of $94.62. 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 released its quarterly earnings results on Thursday, August 3rd. The insurance provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by $0.55. The business had revenue of $323.80 million for the quarter, compared to the consensus estimate of $330 million. Infinity Property and Casualty Corporation had a net margin of 2.58% and a return on equity of 5.16%. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.99 EPS. Equities research analysts expect that Infinity Property and Casualty Corporation will post $3.73 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 given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, September 7th. Infinity Property and Casualty Corporation’s payout ratio is 64.09%.

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A number of research analysts recently issued reports on the company. Zacks Investment Research raised Infinity Property and Casualty Corporation from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a report on Wednesday, June 7th. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Infinity Property and Casualty Corporation in a report on Thursday, May 25th. 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 objective for the company in a report on Thursday, July 13th. UBS AG raised Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, July 13th. Finally, BidaskClub raised Infinity Property and Casualty Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average 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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