Dean Investment Associates LLC Reduces Holdings in Infinity Property and Casualty Corp. (IPCC)

Dean Investment Associates LLC reduced its position in Infinity Property and Casualty Corp. (NASDAQ:IPCC) by 21.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,208 shares of the insurance provider’s stock after selling 8,902 shares during the quarter. Dean Investment Associates LLC owned approximately 0.29% of Infinity Property and Casualty worth $3,034,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IPCC. BlackRock Inc. grew its position in shares of Infinity Property and Casualty 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 buying an additional 114,554 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Infinity Property and Casualty 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 buying an additional 12,025 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of Infinity Property and Casualty 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 buying an additional 57,870 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Infinity Property and Casualty 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 buying an additional 23,158 shares in the last quarter. Finally, State Street Corp grew its position in shares of Infinity Property and Casualty 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 buying an additional 10,315 shares in the last quarter. 95.88% of the stock is owned by institutional investors.

IPCC has been the subject of a number of analyst reports. Zacks Investment Research raised Infinity Property and Casualty from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $94.00 price objective on shares of Infinity Property and Casualty in a research report on Thursday, September 21st. Finally, BidaskClub downgraded Infinity Property and Casualty from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. One 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 stock has a consensus rating of “Buy” and an average target price of $107.00.

Shares of Infinity Property and Casualty Corp. (IPCC) opened at $106.20 on Thursday. The firm has a market capitalization of $1,166.43, a P/E ratio of 23.77, a P/E/G ratio of 2.76 and a beta of 0.86. Infinity Property and Casualty Corp. has a 52 week low of $83.00 and a 52 week high of $110.63. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.48 and a current ratio of 0.48.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, December 7th. Infinity Property and Casualty’s payout ratio is 49.15%.

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Infinity Property and Casualty 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.

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

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