Infinity Property and Casualty Corp. (IPCC) Shares Bought by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. raised its stake in Infinity Property and Casualty Corp. (NASDAQ:IPCC) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,580 shares of the insurance provider’s stock after purchasing an additional 2,065 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.72% of Infinity Property and Casualty worth $7,403,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in IPCC. Wells Fargo & Company MN raised its stake in shares of Infinity Property and Casualty by 49.6% in the 3rd quarter. Wells Fargo & Company MN now owns 13,258 shares of the insurance provider’s stock valued at $1,249,000 after acquiring an additional 4,393 shares during the period. Citadel Advisors LLC raised its stake in shares of Infinity Property and Casualty by 259.2% in the 3rd quarter. Citadel Advisors LLC now owns 10,029 shares of the insurance provider’s stock valued at $945,000 after acquiring an additional 7,237 shares during the period. Legal & General Group Plc raised its stake in shares of Infinity Property and Casualty by 2.9% in the 3rd quarter. Legal & General Group Plc now owns 21,879 shares of the insurance provider’s stock valued at $2,061,000 after acquiring an additional 612 shares during the period. TD Asset Management Inc. raised its stake in shares of Infinity Property and Casualty by 6.0% in the 3rd quarter. TD Asset Management Inc. now owns 15,886 shares of the insurance provider’s stock valued at $1,496,000 after acquiring an additional 900 shares during the period. Finally, Granite Investment Partners LLC raised its stake in shares of Infinity Property and Casualty by 6.1% in the 3rd quarter. Granite Investment Partners LLC now owns 129,512 shares of the insurance provider’s stock valued at $12,200,000 after acquiring an additional 7,473 shares during the period. Institutional investors own 95.84% of the company’s stock.

A number of equities analysts have recently commented on IPCC shares. BidaskClub downgraded shares of Infinity Property and Casualty from a “hold” rating to a “sell” rating in a research note on Tuesday, December 5th. Zacks Investment Research raised shares of Infinity Property and Casualty from a “hold” rating to a “strong-buy” rating and set a $122.00 target price on the stock in a research note on Wednesday, November 15th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $105.00 target price on shares of Infinity Property and Casualty in a research note on Friday, December 22nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $110.67.

Shares of Infinity Property and Casualty Corp. (NASDAQ:IPCC) opened at $103.55 on Friday. Infinity Property and Casualty Corp. has a one year low of $83.00 and a one year high of $110.63. The stock has a market cap of $1,128.73, a price-to-earnings ratio of 23.01, a P/E/G ratio of 2.11 and a beta of 0.87. 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 (NASDAQ:IPCC) last released its quarterly earnings results on Monday, November 6th. The insurance provider reported $1.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $1.26. Infinity Property and Casualty had a net margin of 3.37% and a return on equity of 7.02%. The firm had revenue of $380.70 million for the quarter, compared to the consensus estimate of $339.80 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. analysts expect that Infinity Property and Casualty Corp. will post 4.31 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 8th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 2.24%. The ex-dividend date was Thursday, December 7th. Infinity Property and Casualty’s dividend payout ratio (DPR) is 49.15%.

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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.

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

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