Investors Title Company (NASDAQ:ITIC) Short Interest Update

Investors Title Company (NASDAQ:ITIC) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totaling 48,886 shares, a drop of 16.3% from the November 30th total of 58,438 shares. Currently, 3.5% of the shares of the company are short sold. Based on an average daily trading volume, of 17,809 shares, the short-interest ratio is currently 2.7 days. Based on an average daily trading volume, of 17,809 shares, the short-interest ratio is currently 2.7 days. Currently, 3.5% of the shares of the company are short sold.

Institutional Investors Weigh In On Investors Title

A number of institutional investors have recently added to or reduced their stakes in the stock. Profit Investment Management LLC bought a new position in shares of Investors Title during the 2nd quarter valued at about $1,466,000. Aviva PLC increased its holdings in shares of Investors Title by 146.2% in the second quarter. Aviva PLC now owns 2,186 shares of the insurance provider’s stock worth $462,000 after purchasing an additional 1,298 shares during the last quarter. Militia Capital Partners LP purchased a new stake in shares of Investors Title in the first quarter worth about $809,000. Strs Ohio bought a new position in Investors Title during the first quarter valued at approximately $530,000. Finally, State Board of Administration of Florida Retirement System bought a new position in Investors Title during the second quarter valued at approximately $490,000. 41.40% of the stock is owned by hedge funds and other institutional investors.

Investors Title Trading Down 0.4%

NASDAQ ITIC opened at $250.66 on Wednesday. The stock has a market cap of $473.75 million, a price-to-earnings ratio of 13.19 and a beta of 0.62. Investors Title has a 12 month low of $190.20 and a 12 month high of $288.98. The company’s 50 day moving average is $262.97 and its two-hundred day moving average is $244.56.

Investors Title (NASDAQ:ITIC) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $6.45 earnings per share (EPS) for the quarter. Investors Title had a return on equity of 13.72% and a net margin of 13.15%.The business had revenue of $70.97 million during the quarter.

Investors Title Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.46 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. Investors Title’s payout ratio is currently 9.68%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Investors Title in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

About Investors Title

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. It offers services in connection with tax-deferred exchanges of like-kind property; acts as a qualified intermediary in tax-deferred exchanges of property; coordinates the exchange aspects of the real estate transaction, such as drafting standard exchange documents, holding the exchange funds between the sale of the old property and the purchase of the new property, and accepting the formal identification of the replacement property.