Investors Title (NASDAQ:ITIC) Sets New 52-Week High Following Analyst Upgrade

Investors Title Company (NASDAQ:ITICGet Free Report) shares reached a new 52-week high on Tuesday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The company traded as high as $291.55 and last traded at $289.72, with a volume of 4352 shares traded. The stock had previously closed at $284.44.

Separately, Weiss Ratings raised Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Check Out Our Latest Stock Report on Investors Title

Insider Transactions at Investors Title

In related news, Director Jr. Elton C. Parker acquired 538 shares of the stock in a transaction on Wednesday, May 13th. The shares were acquired at an average price of $231.00 per share, with a total value of $124,278.00. Following the completion of the transaction, the director owned 3,750 shares in the company, valued at approximately $866,250. The trade was a 16.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 25.96% of the company’s stock.

Institutional Investors Weigh In On Investors Title

A number of hedge funds have recently modified their holdings of ITIC. Caitong International Asset Management Co. Ltd purchased a new position in Investors Title in the fourth quarter valued at approximately $36,000. CANADA LIFE ASSURANCE Co raised its stake in shares of Investors Title by 34.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock valued at $48,000 after buying an additional 49 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Investors Title by 357.4% in the third quarter. Russell Investments Group Ltd. now owns 311 shares of the insurance provider’s stock valued at $83,000 after buying an additional 243 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Investors Title by 6.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock valued at $201,000 after buying an additional 49 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Investors Title during the 4th quarter worth $224,000. Institutional investors own 41.40% of the company’s stock.

Investors Title Stock Performance

The firm has a 50 day moving average price of $261.57 and a two-hundred day moving average price of $246.91. The company has a market cap of $549.86 million, a P/E ratio of 14.53 and a beta of 0.63.

Investors Title (NASDAQ:ITICGet Free Report) last posted its earnings results on Thursday, May 7th. The insurance provider reported $3.20 earnings per share (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 announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. Investors Title’s payout ratio is presently 9.15%.

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

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