Investors Title (NASDAQ:ITIC) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Investors Title (NASDAQ:ITICFree Report) from a buy rating to a hold rating in a research note released on Monday morning.

Separately, Weiss Ratings raised shares of Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, Investors Title currently has an average rating of “Buy”.

Read Our Latest Report on ITIC

Investors Title Stock Performance

Shares of NASDAQ ITIC opened at $283.30 on Monday. The stock has a market cap of $535.44 million, a price-to-earnings ratio of 14.09 and a beta of 0.63. The business has a 50 day simple moving average of $259.01 and a 200 day simple moving average of $246.31. Investors Title has a 52 week low of $203.52 and a 52 week high of $291.43.

Investors Title (NASDAQ:ITICGet Free Report) last released its quarterly earnings data on Thursday, May 7th. The insurance provider reported $3.20 EPS for the quarter. The firm had revenue of $63.49 million for the quarter. Investors Title had a return on equity of 14.03% and a net margin of 13.59%.

Investors Title Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.6%. Investors Title’s dividend payout ratio is currently 9.15%.

Insider Buying and Selling at Investors Title

In related news, Director Jr. Elton C. Parker acquired 538 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of $231.00 per share, with a total value of $124,278.00. Following the purchase, the director owned 3,750 shares of the company’s stock, valued at approximately $866,250. The trade was a 16.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 25.96% of the company’s stock.

Hedge Funds Weigh In On Investors Title

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aristides Capital LLC raised its position in shares of Investors Title by 13.6% in the first quarter. Aristides Capital LLC now owns 18,953 shares of the insurance provider’s stock valued at $4,119,000 after purchasing an additional 2,273 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Investors Title during the 4th quarter worth $36,000. Invesco Ltd. boosted its holdings in shares of Investors Title by 30.7% during the 4th quarter. Invesco Ltd. now owns 4,027 shares of the insurance provider’s stock worth $1,005,000 after buying an additional 945 shares during the period. Engineers Gate Manager LP bought a new stake in shares of Investors Title during the 4th quarter worth $226,000. Finally, AQR Capital Management LLC grew its stake in Investors Title by 8.3% in the 4th quarter. AQR Capital Management LLC now owns 1,838 shares of the insurance provider’s stock valued at $459,000 after buying an additional 141 shares during the last quarter. Institutional investors and hedge funds own 41.40% of the company’s stock.

About Investors Title

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Investors Title Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Investors Title and related companies with MarketBeat.com's FREE daily email newsletter.