Investors Title Company (NASDAQ:ITIC – Get Free Report) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $261.93 and traded as high as $291.31. Investors Title shares last traded at $282.90, with a volume of 71,529 shares.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on ITIC shares. Wall Street Zen cut Investors Title from a “buy” rating to a “hold” rating in a report on Wednesday, August 5th. Weiss Ratings restated a “buy (b)” rating on shares of Investors Title in a report on Monday. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy”.
Get Our Latest Stock Report on ITIC
Investors Title Stock Performance
Investors Title (NASDAQ:ITIC – Get Free Report) last released its earnings results on Thursday, August 6th. The insurance provider reported $7.73 earnings per share for the quarter. The firm had revenue of $81.71 million for the quarter. Investors Title had a net margin of 13.80% and a return on equity of 14.62%.
Investors Title Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, September 1st. Investors Title’s payout ratio is currently 8.62%.
Institutional Investors Weigh In On Investors Title
A number of institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP grew its stake in shares of Investors Title by 137.6% in the 2nd quarter. Engineers Gate Manager LP now owns 2,801 shares of the insurance provider’s stock worth $767,000 after buying an additional 1,622 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Investors Title during the 2nd quarter valued at about $1,554,000. Legal & General Group Plc bought a new position in shares of Investors Title in the 2nd quarter valued at about $100,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Investors Title in the second quarter worth about $290,000. Finally, Meeder Asset Management Inc. purchased a new position in Investors Title in the second quarter worth about $292,000. Hedge funds and other institutional investors own 41.40% of the company’s stock.
About Investors Title
Investors Title Company (NASDAQ: ITIC) is a holding company that provides title insurance and related services in the United States. Through its insurance subsidiaries, the company underwrites title insurance policies that protect property owners and mortgage lenders against losses arising from defects, liens, encumbrances, and other issues affecting real estate title.
The company also provides a range of title-related services, including title searches and examinations, settlement and closing services, escrow services, and construction disbursement services.
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