Investors Title (NASDAQ:ITIC) Downgraded to “Hold” Rating by StockNews.com

StockNews.com lowered shares of Investors Title (NASDAQ:ITIC) from a buy rating to a hold rating in a research report released on Wednesday.

Investors Title Trading Down 1.3 %

ITIC opened at $236.76 on Wednesday. Investors Title has a 12-month low of $146.41 and a 12-month high of $290.40. The company has a market cap of $446.06 million, a price-to-earnings ratio of 15.67 and a beta of 0.89. The company’s 50 day moving average is $257.66 and its 200 day moving average is $226.57.

Investors Title Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $14.46 per share. This represents a $57.84 annualized dividend and a yield of 24.43%. The ex-dividend date was Monday, December 2nd. This is a boost from Investors Title’s previous quarterly dividend of $0.46. Investors Title’s dividend payout ratio (DPR) is currently 12.18%.

Institutional Trading of Investors Title

A number of institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. raised its holdings in shares of Investors Title by 455.8% in the third quarter. Meeder Asset Management Inc. now owns 239 shares of the insurance provider’s stock worth $55,000 after buying an additional 196 shares during the period. FMR LLC boosted its holdings in shares of Investors Title by 73.6% in the third quarter. FMR LLC now owns 479 shares of the insurance provider’s stock valued at $110,000 after purchasing an additional 203 shares during the period. SG Americas Securities LLC bought a new position in Investors Title in the third quarter worth approximately $117,000. BNP Paribas Financial Markets lifted its holdings in shares of Investors Title by 65.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 540 shares of the insurance provider’s stock worth $124,000 after buying an additional 214 shares during the period. Finally, Centiva Capital LP bought a new stake in shares of Investors Title in the third quarter valued at about $226,000. 41.40% of the stock is currently owned by institutional investors.

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.