BNP Paribas Arbitrage SA reduced its stake in shares of Infinity Property and Casualty Corporation (NASDAQ:IPCC) by 2.7% during the first quarter, Holdings Channel reports. The fund owned 2,591 shares of the insurance provider’s stock after selling 73 shares during the period. BNP Paribas Arbitrage SA’s holdings in Infinity Property and Casualty Corporation were worth $247,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Macquarie Group Ltd. increased its stake in Infinity Property and Casualty Corporation by 4.4% in the fourth quarter. Macquarie Group Ltd. now owns 660,496 shares of the insurance provider’s stock valued at $58,058,000 after buying an additional 27,878 shares during the last quarter. State Street Corp increased its stake in Infinity Property and Casualty Corporation by 11.3% in the fourth quarter. State Street Corp now owns 271,862 shares of the insurance provider’s stock valued at $23,898,000 after buying an additional 27,685 shares during the last quarter. Norges Bank purchased a new stake in Infinity Property and Casualty Corporation during the fourth quarter valued at $19,236,000. Renaissance Technologies LLC increased its stake in Infinity Property and Casualty Corporation by 7.1% in the fourth quarter. Renaissance Technologies LLC now owns 198,700 shares of the insurance provider’s stock valued at $17,466,000 after buying an additional 13,200 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Infinity Property and Casualty Corporation by 4.6% in the first quarter. Bank of New York Mellon Corp now owns 160,643 shares of the insurance provider’s stock valued at $15,342,000 after buying an additional 7,005 shares during the last quarter. 96.28% of the stock is owned by institutional investors and hedge funds.

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

Shares of Infinity Property and Casualty Corporation (IPCC) opened at 95.20 on Friday. The firm’s 50-day moving average price is $95.77 and its 200 day moving average price is $92.22. The stock has a market capitalization of $1.05 billion, a P/E ratio of 22.93 and a beta of 0.84. Infinity Property and Casualty Corporation has a 1-year low of $73.80 and a 1-year high of $101.70.

Infinity Property and Casualty Corporation (NASDAQ:IPCC) last released its quarterly earnings results on Thursday, May 4th. The insurance provider reported $0.93 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.07. The company had revenue of $370.70 million for the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 earnings per share. Analysts expect that Infinity Property and Casualty Corporation will post $4.32 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be issued 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 2.44%. Infinity Property and Casualty Corporation’s dividend payout ratio (DPR) is presently 55.90%.

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Several analysts have recently weighed in on IPCC shares. Zacks Investment Research raised Infinity Property and Casualty Corporation from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 1st. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Infinity Property and Casualty Corporation in a 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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