Investors Title (NASDAQ:ITIC) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Investors Title (NASDAQ:ITIC) from a buy rating to a hold rating in a research note issued to investors on Friday.

Investors Title Stock Performance

ITIC stock opened at $225.35 on Friday. The business has a 50-day simple moving average of $245.67 and a two-hundred day simple moving average of $234.25. The company has a market capitalization of $423.66 million, a P/E ratio of 14.91 and a beta of 0.92. Investors Title has a 52-week low of $146.41 and a 52-week high of $290.40.

Investors Title (NASDAQ:ITIC) last announced its quarterly earnings results on Tuesday, November 5th. The insurance provider reported $4.92 earnings per share (EPS) for the quarter. Investors Title had a return on equity of 10.99% and a net margin of 11.83%. The business had revenue of $68.83 million during the quarter.

Investors Title Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $14.46 per share. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from Investors Title’s previous quarterly dividend of $0.46. This represents a $57.84 annualized dividend and a yield of 25.67%. Investors Title’s payout ratio is 12.18%.

Institutional Investors Weigh In On Investors Title

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Investors Title in the third quarter valued at approximately $117,000. Ritholtz Wealth Management boosted its position in Investors Title by 9.0% in the third quarter. Ritholtz Wealth Management now owns 2,703 shares of the insurance provider’s stock worth $621,000 after purchasing an additional 223 shares during the last quarter. Canal Capital Management LLC bought a new position in Investors Title in the 3rd quarter valued at $230,000. Meeder Asset Management Inc. increased its position in shares of Investors Title by 455.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 239 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 196 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Investors Title by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,169 shares of the insurance provider’s stock worth $958,000 after purchasing an additional 142 shares during the period. Hedge funds and other 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.