Infinity Property and Casualty Corp. (IPCC) to Issue Quarterly Dividend of $0.58 on December 22nd
Infinity Property and Casualty Corp. (NASDAQ:IPCC) announced a quarterly dividend on Thursday, November 2nd, RTT News reports. Investors of record on Friday, December 8th will be given a dividend of 0.58 per share by the insurance provider on Friday, December 22nd. This represents a $2.32 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Thursday, December 7th.
Infinity Property and Casualty has raised its dividend payment by an average of 20.1% per year over the last three years and has increased its dividend annually for the last 9 consecutive years. Infinity Property and Casualty has a dividend payout ratio of 53.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Infinity Property and Casualty to earn $5.45 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 42.6%.
Shares of Infinity Property and Casualty (NASDAQ:IPCC) opened at $107.35 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 has a twelve month low of $83.00 and a twelve month high of $110.63. The firm has a market capitalization of $1,175.71, a price-to-earnings ratio of 23.96, a P/E/G ratio of 2.78 and a beta of 0.86.
Infinity Property and Casualty (NASDAQ:IPCC) last released its quarterly earnings data on Monday, November 6th. The insurance provider reported $1.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $1.26. Infinity Property and Casualty had a return on equity of 7.02% and a net margin of 3.37%. The company had revenue of $380.70 million for the quarter, compared to the consensus estimate of $339.80 million. During the same quarter last year, the business posted $0.17 EPS. Infinity Property and Casualty’s revenue for the quarter was up .7% on a year-over-year basis. research analysts forecast that Infinity Property and Casualty will post 4.31 earnings per share for the current year.
Several equities research analysts recently weighed in on IPCC shares. Zacks Investment Research downgraded Infinity Property and Casualty from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $94.00 price objective on shares of Infinity Property and Casualty in a report on Thursday, September 21st. Finally, BidaskClub downgraded Infinity Property and Casualty from a “hold” rating to a “sell” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Infinity Property and Casualty presently has a consensus rating of “Buy” and a consensus price target of $107.00.
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About Infinity Property and Casualty
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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