Investors Title (NASDAQ:ITIC) Issues Quarterly Earnings Results

Investors Title (NASDAQ:ITIC) released its earnings results on Tuesday. The insurance provider reported $3.97 earnings per share for the quarter, Zacks reports. Investors Title had a return on equity of 13.72% and a net margin of 13.15%.

Investors Title Stock Performance

Shares of NASDAQ:ITIC traded down $5.99 during trading hours on Tuesday, hitting $261.58. The stock had a trading volume of 277 shares, compared to its average volume of 16,563. The stock’s fifty day simple moving average is $255.99 and its 200 day simple moving average is $256.51. The firm has a market capitalization of $494.38 million, a price-to-earnings ratio of 13.77 and a beta of 0.65. Investors Title has a 1-year low of $190.20 and a 1-year high of $288.98.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Investors Title in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

Institutional Trading of Investors Title

Several large investors have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its holdings in Investors Title by 486.5% in the 3rd quarter. Millennium Management LLC now owns 16,815 shares of the insurance provider’s stock worth $4,504,000 after purchasing an additional 13,948 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Investors Title by 110.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,140 shares of the insurance provider’s stock worth $5,028,000 after purchasing an additional 10,589 shares during the period. BNP Paribas Financial Markets boosted its stake in Investors Title by 12,260.0% during the second quarter. BNP Paribas Financial Markets now owns 10,506 shares of the insurance provider’s stock worth $2,220,000 after buying an additional 10,421 shares in the last quarter. Two Sigma Investments LP increased its holdings in Investors Title by 18.7% in the 3rd quarter. Two Sigma Investments LP now owns 42,303 shares of the insurance provider’s stock valued at $11,330,000 after buying an additional 6,673 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in shares of Investors Title in the 3rd quarter valued at $1,463,000. 41.40% of the stock is owned by institutional investors and hedge funds.

Investors Title Company 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. 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.