Infinity Property and Casualty Corporation (NASDAQ:IPCC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday. The firm presently has a $122.00 target price on the insurance provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 12.44% from the company’s previous close.

According to Zacks, “Infinity Property is a property and casualty insurer. “

A number of other analysts have also recently commented on the stock. BidaskClub raised shares of Infinity Property and Casualty Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $94.00 price target on shares of Infinity Property and Casualty Corporation in a research report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $107.00.

Infinity Property and Casualty Corporation (NASDAQ IPCC) opened at $108.50 on Wednesday. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.38. Infinity Property and Casualty Corporation has a twelve month low of $81.65 and a twelve month high of $109.90. The firm has a market cap of $1,171.34, a P/E ratio of 23.88, a PEG ratio of 2.77 and a beta of 0.82.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last announced its earnings results on Monday, November 6th. The insurance provider reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $1.26. Infinity Property and Casualty Corporation had a net margin of 3.37% and a return on equity of 7.02%. The business had revenue of $380.70 million during the quarter, compared to analysts’ expectations of $339.80 million. During the same period in the prior year, the company earned $0.17 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. analysts anticipate that Infinity Property and Casualty Corporation will post 4.31 EPS for the current fiscal year.

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Several large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Infinity Property and Casualty Corporation by 8.3% during the second quarter. BlackRock Inc. now owns 1,501,114 shares of the insurance provider’s stock worth $141,106,000 after acquiring an additional 114,554 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Infinity Property and Casualty Corporation by 1.1% during the second quarter. Vanguard Group Inc. now owns 1,067,932 shares of the insurance provider’s stock worth $100,386,000 after acquiring an additional 12,025 shares during the last quarter. Macquarie Group Ltd. boosted its position in shares of Infinity Property and Casualty Corporation by 8.2% during the third quarter. Macquarie Group Ltd. now owns 760,406 shares of the insurance provider’s stock worth $71,630,000 after acquiring an additional 57,870 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Infinity Property and Casualty Corporation by 3.9% during the third quarter. Victory Capital Management Inc. now owns 619,037 shares of the insurance provider’s stock worth $58,313,000 after acquiring an additional 23,158 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Infinity Property and Casualty Corporation by 3.6% during the second quarter. State Street Corp now owns 294,564 shares of the insurance provider’s stock worth $27,688,000 after acquiring an additional 10,315 shares during the last quarter. Hedge funds and other institutional investors own 96.11% of the company’s stock.

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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