Infinity Property and Casualty Corporation (IPCC) Stake Boosted by OppenheimerFunds Inc.

OppenheimerFunds Inc. boosted its stake in Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 6.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,448 shares of the insurance provider’s stock after buying an additional 710 shares during the period. OppenheimerFunds Inc. owned about 0.10% of Infinity Property and Casualty Corporation worth $1,093,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Infinity Property and Casualty Corporation during the fourth quarter valued at about $19,236,000. Macquarie Group Ltd. boosted its stake in shares of Infinity Property and Casualty Corporation by 4.4% in the fourth quarter. Macquarie Group Ltd. now owns 660,496 shares of the insurance provider’s stock valued at $58,058,000 after buying an additional 27,878 shares during the last quarter. State Street Corp boosted its stake in shares of Infinity Property and Casualty Corporation by 11.3% in the fourth quarter. State Street Corp now owns 271,862 shares of the insurance provider’s stock valued at $23,898,000 after buying an additional 27,685 shares during the last quarter. Cooke & Bieler LP boosted its stake in shares of Infinity Property and Casualty Corporation by 73.0% in the first quarter. Cooke & Bieler LP now owns 62,725 shares of the insurance provider’s stock valued at $5,990,000 after buying an additional 26,464 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Infinity Property and Casualty Corporation by 2.9% in the first quarter. Victory Capital Management Inc. now owns 630,506 shares of the insurance provider’s stock valued at $60,213,000 after buying an additional 17,627 shares during the last quarter. Hedge funds and other institutional investors own 95.95% of the company’s stock.

Infinity Property and Casualty Corporation (NASDAQ IPCC) traded up 1.78% on Friday, hitting $100.25. The stock had a trading volume of 19,081 shares. The company’s 50 day moving average is $95.53 and its 200 day moving average is $93.75. Infinity Property and Casualty Corporation has a 12-month low of $73.80 and a 12-month high of $101.70. The firm has a market cap of $1.11 billion, a PE ratio of 24.15 and a beta of 0.82.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last released its quarterly earnings results on Thursday, May 4th. The insurance provider reported $0.93 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.07. Infinity Property and Casualty Corporation had a return on equity of 6.21% and a net margin of 2.97%. The business had revenue of $370.70 million for the quarter, compared to analysts’ expectations of $390.70 million. During the same quarter in the previous year, the firm posted $0.68 earnings per share. The company’s revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts expect that Infinity Property and Casualty Corporation will post $4.27 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 16th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Wednesday, June 14th. Infinity Property and Casualty Corporation’s dividend payout ratio (DPR) is 55.90%.

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IPCC has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Infinity Property and Casualty Corporation in a report on Thursday, May 25th. Zacks Investment Research cut Infinity Property and Casualty Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. BidaskClub cut Infinity Property and Casualty Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. UBS AG raised Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 13th. Finally, Raymond James Financial, Inc. raised 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Infinity Property and Casualty Corporation has an average rating of “Hold” and a consensus target price of $101.67.

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.

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

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