Investors Title (NASDAQ:ITIC) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

Investors Title (NASDAQ:ITIC)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $190.17 and traded as high as $230.98. Investors Title shares last traded at $230.98, with a volume of 5,741 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Investors Title from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th.

Investors Title Price Performance

The company has a market capitalization of $435.17 million, a P/E ratio of 17.45 and a beta of 0.85. The stock’s 50 day moving average is $222.29 and its 200-day moving average is $190.17.

Investors Title (NASDAQ:ITIC) last issued its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $4.70 earnings per share (EPS) for the quarter. Investors Title had a net margin of 11.25% and a return on equity of 10.32%. The company had revenue of $65.38 million during the quarter.

Investors Title Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a $0.46 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.80%. Investors Title’s dividend payout ratio is currently 13.90%.

Institutional Investors Weigh In On Investors Title

Several hedge funds have recently added to or reduced their stakes in the stock. Aristides Capital LLC bought a new stake in shares of Investors Title in the 1st quarter worth $1,648,000. O Shaughnessy Asset Management LLC increased its holdings in Investors Title by 41.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,560 shares of the insurance provider’s stock worth $581,000 after buying an additional 1,037 shares in the last quarter. Ritholtz Wealth Management increased its holdings in Investors Title by 55.0% in the 2nd quarter. Ritholtz Wealth Management now owns 2,480 shares of the insurance provider’s stock worth $447,000 after buying an additional 880 shares in the last quarter. American Century Companies Inc. raised its position in Investors Title by 27.0% in the 2nd quarter. American Century Companies Inc. now owns 3,774 shares of the insurance provider’s stock worth $680,000 after buying an additional 803 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Investors Title by 6.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 12,607 shares of the insurance provider’s stock valued at $2,271,000 after acquiring an additional 710 shares during the period. 41.40% of the stock is 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.