Investors Title (NASDAQ:ITIC) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Investors Title Company (NASDAQ:ITICGet Free Report)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $244.34 and traded as high as $274.43. Investors Title shares last traded at $272.37, with a volume of 19,825 shares changing hands.

Analyst Ratings Changes

ITIC has been the topic of several research reports. Wall Street Zen downgraded shares of Investors Title from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. 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 MarketBeat, the stock has a consensus rating of “Buy”.

View Our Latest Research Report on ITIC

Investors Title Stock Up 1.3%

The stock has a fifty day moving average price of $251.64 and a two-hundred day moving average price of $244.56. The company has a market cap of $521.64 million, a price-to-earnings ratio of 13.73 and a beta of 0.63.

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

Investors Title Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.46 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. Investors Title’s payout ratio is currently 9.15%.

Insider Activity

In other Investors Title news, Director Jr. Elton C. Parker bought 538 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of $231.00 per share, for a total transaction of $124,278.00. Following the transaction, the director directly owned 3,750 shares in the company, valued at approximately $866,250. This trade represents a 16.75% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 25.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Investors Title

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Two Sigma Investments LP grew its position in Investors Title by 18.7% during the third quarter. Two Sigma Investments LP now owns 42,303 shares of the insurance provider’s stock worth $11,330,000 after buying an additional 6,673 shares in the last quarter. Geode Capital Management LLC increased its stake in Investors Title by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 36,696 shares of the insurance provider’s stock worth $9,163,000 after acquiring an additional 777 shares during the period. State Street Corp raised its holdings in Investors Title by 7.6% in the 4th quarter. State Street Corp now owns 30,049 shares of the insurance provider’s stock valued at $7,501,000 after acquiring an additional 2,127 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Investors Title by 110.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 20,140 shares of the insurance provider’s stock valued at $5,028,000 after acquiring an additional 10,589 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Investors Title by 27.1% during the 4th quarter. BNP Paribas Financial Markets now owns 20,015 shares of the insurance provider’s stock valued at $4,997,000 after acquiring an additional 4,268 shares during the period. 41.40% of the stock is currently owned by institutional investors and hedge funds.

Investors Title Company Profile

(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.

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