Ritholtz Wealth Management Sells 654 Shares of Investors Title Company $ITIC

Ritholtz Wealth Management trimmed its position in shares of Investors Title Company (NASDAQ:ITIC) by 32.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,355 shares of the insurance provider’s stock after selling 654 shares during the period. Ritholtz Wealth Management owned approximately 0.07% of Investors Title worth $286,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Investors Title by 1.0% during the first quarter. Vanguard Group Inc. now owns 75,800 shares of the insurance provider’s stock valued at $18,274,000 after acquiring an additional 730 shares during the period. American Century Companies Inc. increased its stake in Investors Title by 22.3% during the first quarter. American Century Companies Inc. now owns 13,192 shares of the insurance provider’s stock valued at $3,180,000 after acquiring an additional 2,404 shares during the period. Aristides Capital LLC increased its stake in Investors Title by 5.3% during the first quarter. Aristides Capital LLC now owns 11,920 shares of the insurance provider’s stock valued at $2,874,000 after acquiring an additional 600 shares during the period. Profit Investment Management LLC acquired a new stake in Investors Title during the second quarter valued at approximately $1,466,000. Finally, Royal Bank of Canada boosted its holdings in Investors Title by 2.3% during the first quarter. Royal Bank of Canada now owns 3,937 shares of the insurance provider’s stock valued at $949,000 after purchasing an additional 88 shares in the last quarter. 41.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Investors Title in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Investors Title Trading Down 0.4%

NASDAQ ITIC opened at $265.07 on Wednesday. The stock’s 50 day moving average is $254.12 and its two-hundred day moving average is $231.83. The company has a market capitalization of $500.98 million, a price-to-earnings ratio of 15.16 and a beta of 0.87. Investors Title Company has a 1-year low of $190.20 and a 1-year high of $290.40.

Investors Title (NASDAQ:ITIC) last released its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $6.48 earnings per share for the quarter. The company had revenue of $71.55 million for the quarter. Investors Title had a return on equity of 12.70% and a net margin of 12.28%.

Investors Title Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Investors Title’s payout ratio is presently 10.53%.

Investors Title Profile

Investors Title Company engages in the issuance of residential and commercial title insurance for residential, institutional, commercial, and industrial properties. The company underwrites land title insurance for owners and mortgagees as a primary insurer; and assumes the reinsurance of title insurance risks from other title insurance companies.