Infinity Property and Casualty Corporation (IPCC) Position Reduced by New South Capital Management Inc.

New South Capital Management Inc. reduced its stake in Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 1.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 531,082 shares of the insurance provider’s stock after selling 8,499 shares during the period. New South Capital Management Inc.’s holdings in Infinity Property and Casualty Corporation were worth $50,718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Macquarie Group Ltd. boosted its position in shares of Infinity Property and Casualty Corporation by 3.5% in the first quarter. Macquarie Group Ltd. now owns 683,802 shares of the insurance provider’s stock valued at $65,303,000 after buying an additional 23,306 shares during the period. State Street Corp boosted its position in shares of Infinity Property and Casualty Corporation by 4.6% in the first quarter. State Street Corp now owns 284,249 shares of the insurance provider’s stock valued at $27,150,000 after buying an additional 12,387 shares during the period. Bank of America Corp DE boosted its position in shares of Infinity Property and Casualty Corporation by 72.6% in the first quarter. Bank of America Corp DE now owns 28,958 shares of the insurance provider’s stock valued at $2,765,000 after buying an additional 12,180 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Infinity Property and Casualty Corporation by 8.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 76,731 shares of the insurance provider’s stock valued at $7,328,000 after buying an additional 6,196 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Infinity Property and Casualty Corporation by 51,734.0% in the first quarter. BlackRock Inc. now owns 1,386,560 shares of the insurance provider’s stock valued at $132,418,000 after buying an additional 1,383,885 shares during the period. 96.28% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Infinity Property and Casualty Corporation (IPCC) traded down 0.16% on Thursday, reaching $93.80. The company had a trading volume of 15,489 shares. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 22.60 and a beta of 0.84. Infinity Property and Casualty Corporation has a 52-week low of $73.80 and a 52-week high of $101.70. The company’s 50-day moving average price is $95.52 and its 200-day moving average price is $92.42.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last released its earnings results on Thursday, May 4th. The insurance provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.07. The firm had revenue of $370.70 million during the quarter, compared to the consensus estimate of $390.70 million. Infinity Property and Casualty Corporation had a return on equity of 6.21% and a net margin of 2.97%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.68 EPS. On average, analysts predict that Infinity Property and Casualty Corporation will post $4.32 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, June 14th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.47%. Infinity Property and Casualty Corporation’s payout ratio is 55.90%.

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Several research analysts recently commented on the company. Zacks Investment Research raised Infinity Property and Casualty Corporation from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research report on Wednesday. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Infinity Property and Casualty Corporation in a research report on Thursday, May 25th.

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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