Pinebridge Investments L.P. decreased its position in shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 3.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,950 shares of the insurance provider’s stock after selling 695 shares during the period. Pinebridge Investments L.P. owned 0.17% of Infinity Property and Casualty Corporation worth $1,782,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its stake in Infinity Property and Casualty Corporation by 3.4% during the 2nd quarter. Great West Life Assurance Co. Can now owns 16,244 shares of the insurance provider’s stock worth $1,525,000 after acquiring an additional 530 shares during the period. Ameriprise Financial Inc. raised its stake in Infinity Property and Casualty Corporation by 4.8% during the 1st quarter. Ameriprise Financial Inc. now owns 58,931 shares of the insurance provider’s stock worth $5,628,000 after acquiring an additional 2,677 shares during the period. Thrivent Financial For Lutherans raised its stake in Infinity Property and Casualty Corporation by 30.2% during the 1st quarter. Thrivent Financial For Lutherans now owns 188,291 shares of the insurance provider’s stock worth $17,982,000 after acquiring an additional 43,660 shares during the period. Teachers Advisors LLC raised its stake in Infinity Property and Casualty Corporation by 2.5% during the 4th quarter. Teachers Advisors LLC now owns 17,723 shares of the insurance provider’s stock worth $1,558,000 after acquiring an additional 427 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in Infinity Property and Casualty Corporation by 240.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 22,824 shares of the insurance provider’s stock worth $2,146,000 after acquiring an additional 16,120 shares during the period. Institutional investors own 95.16% of the company’s stock.

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Shares of Infinity Property and Casualty Corporation (NASDAQ IPCC) opened at 89.80 on Friday. The stock’s 50 day moving average is $90.89 and its 200 day moving average is $94.48. Infinity Property and Casualty Corporation has a 52-week low of $73.80 and a 52-week high of $101.70. The company has a market cap of $991.12 million, a PE ratio of 24.88 and a beta of 0.86.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last announced its 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). The business had revenue of $323.80 million for the quarter, compared to analyst estimates of $330.00 million. Infinity Property and Casualty Corporation had a return on equity of 5.16% and a net margin of 2.58%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 earnings per share. Equities analysts forecast that Infinity Property and Casualty Corporation will post $3.75 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Thursday, September 7th. Infinity Property and Casualty Corporation’s payout ratio is 64.09%.

A number of equities research analysts have commented on the stock. 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 target price on the stock in a research note on Thursday, July 13th. BidaskClub upgraded shares of Infinity Property and Casualty Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded shares of Infinity Property and Casualty Corporation from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a research note on Wednesday, June 21st. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $94.00 price objective on shares of Infinity Property and Casualty Corporation in a research report on Thursday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target 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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