Wall Street Zen lowered shares of Investors Title (NASDAQ:ITIC – Free Report) from a buy rating to a hold rating in a research note released on Wednesday morning.
Separately, Weiss Ratings raised Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Investors Title currently has an average rating of “Buy”.
Get Our Latest Stock Report on ITIC
Investors Title Stock Down 0.1%
Investors Title (NASDAQ:ITIC – Get Free Report) last announced its earnings results on Thursday, May 7th. The insurance provider reported $3.20 earnings per share for the quarter. The business had revenue of $63.49 million during the quarter. Investors Title had a net margin of 13.59% and a return on equity of 14.03%.
Investors Title Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, June 15th. Investors Title’s dividend payout ratio (DPR) is presently 9.15%.
Insider Buying and Selling
In related news, Director Jr. Elton C. Parker purchased 538 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was purchased at an average cost of $231.00 per share, with a total value of $124,278.00. Following the completion of the purchase, the director owned 3,750 shares in the company, valued at approximately $866,250. This trade represents a 16.75% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 25.96% of the company’s stock.
Hedge Funds Weigh In On Investors Title
A number of institutional investors and hedge funds have recently made changes to their positions in ITIC. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Investors Title in the 4th quarter valued at about $36,000. CANADA LIFE ASSURANCE Co raised its stake in Investors Title by 34.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock worth $48,000 after buying an additional 49 shares during the period. Russell Investments Group Ltd. raised its stake in Investors Title by 357.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 311 shares of the insurance provider’s stock worth $83,000 after buying an additional 243 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Investors Title by 6.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock worth $201,000 after acquiring an additional 49 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Investors Title in the fourth quarter worth approximately $224,000. Institutional investors own 41.40% of the company’s stock.
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.
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