BNP Paribas Arbitrage SA Grows Position in Infinity Property and Casualty Corporation (IPCC)

BNP Paribas Arbitrage SA increased its position in Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 53.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,976 shares of the insurance provider’s stock after buying an additional 1,385 shares during the period. BNP Paribas Arbitrage SA’s holdings in Infinity Property and Casualty Corporation were worth $374,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in 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 worth $132,418,000 after buying an additional 1,383,885 shares during the last quarter. Vanguard Group Inc. increased its holdings in Infinity Property and Casualty Corporation by 7.3% in the first quarter. Vanguard Group Inc. now owns 1,055,907 shares of the insurance provider’s stock worth $100,839,000 after buying an additional 71,831 shares during the last quarter. Macquarie Group Ltd. increased its holdings in 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 worth $65,303,000 after buying an additional 23,306 shares during the last quarter. Victory Capital Management Inc. increased its holdings in 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 worth $60,213,000 after buying an additional 17,627 shares during the last quarter. Finally, State Street Corp increased its holdings in 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 worth $27,150,000 after buying an additional 12,387 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

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IPCC has been the topic of a number of research reports. Zacks Investment Research upgraded Infinity Property and Casualty Corporation from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Wednesday, June 7th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Infinity Property and Casualty Corporation in a report on Thursday, May 25th. Raymond James Financial, Inc. upgraded Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating and set a $105.00 price target on the stock in a report on Thursday, July 13th. UBS AG upgraded Infinity Property and Casualty Corporation from a “market perform” rating to an “outperform” rating in a report on Thursday, July 13th. Finally, BidaskClub upgraded Infinity Property and Casualty Corporation from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Infinity Property and Casualty Corporation presently has an average rating of “Hold” and a consensus target price of $101.67.

Infinity Property and Casualty Corporation (IPCC) opened at 90.85 on Monday. The firm has a market cap of $1.00 billion, a P/E ratio of 25.17 and a beta of 0.86. The firm’s 50-day moving average price is $91.44 and its 200 day moving average price is $94.59. Infinity Property and Casualty Corporation has a one year low of $73.80 and a one year high of $101.70.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last posted its quarterly 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 company 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 firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the firm earned $0.99 EPS. On average, equities research analysts forecast that Infinity Property and Casualty Corporation will post $3.75 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, September 7th. Infinity Property and Casualty Corporation’s dividend payout ratio (DPR) is 64.09%.

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.

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

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