Zacks lowered shares of Infinity Property & Casualty Corp. (NASDAQ:IPCC) from a neutral rating to an underperform rating in a research report released on Thursday morning, AmericanBankingNews.com reports. Zacks currently has $66.80 price objective on the stock.
Zacks has also taken action a number of other financials stocks recently. The firm reiterated its neutral rating on shares of AFLAC Inc.. They have a $69.00 price target on that stock. Also, Zacks reiterated its neutral rating on shares of Protective Life Corp.. They have a $51.00 price target on that stock. Finally, Zacks reiterated its neutral rating on shares of XL Group PLC. They have a $34.00 price target on that stock.
Infinity Property & Casualty Corp. (NASDAQ:IPCC) opened at 68.88 on Thursday. Infinity Property & Casualty Corp. has a 52-week low of $53.87 and a 52-week high of $71.95. The stock has a 50-day moving average of $69.14 and a 200-day moving average of $63.99. The company has a market cap of $791.1 million and a price-to-earnings ratio of 25.86.
Infinity Property & Casualty Corp. (NASDAQ:IPCC) last released its earnings data on Thursday, November 7th. The company reported $0.63 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.77 by $0.14. The company had revenue of $335.00 million for the quarter, compared to the consensus estimate of $341.00 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts expect that Infinity Property & Casualty Corp. will post $2.60 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, December 4th.
Infinity Property and Casualty Corporation is a holding company that, through subsidiaries, provides personal automobile insurance with a concentration on nonstandard auto insurance.
To view Zacks’ full report, visit www.zacks.com
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