Investors Title (NASDAQ:ITIC) Short Interest Up 8.1% in December

Investors Title (NASDAQ:ITIC) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 26,700 shares, an increase of 8.1% from the November 30th total of 24,700 shares. Approximately 1.9% of the shares of the company are short sold. Based on an average daily volume of 11,200 shares, the days-to-cover ratio is presently 2.4 days.

Investors Title Stock Down 1.3 %

Shares of ITIC stock opened at $236.76 on Wednesday. The firm has a market cap of $446.06 million, a P/E ratio of 15.67 and a beta of 0.89. The company has a 50 day moving average of $257.57 and a 200-day moving average of $226.49. Investors Title has a 12-month low of $146.41 and a 12-month high of $290.40.

Investors Title Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $14.46 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from Investors Title’s previous quarterly dividend of $0.46. This represents a $57.84 annualized dividend and a dividend yield of 24.43%. Investors Title’s payout ratio is presently 12.18%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. raised its stake in Investors Title by 455.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 239 shares of the insurance provider’s stock valued at $55,000 after acquiring an additional 196 shares during the period. FMR LLC raised its position 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 3rd quarter worth approximately $117,000. BNP Paribas Financial Markets grew its stake in Investors Title by 65.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 540 shares of the insurance provider’s stock valued at $124,000 after buying an additional 214 shares in the last quarter. Finally, Centiva Capital LP bought a new stake in Investors Title during the 3rd quarter valued at $226,000. Institutional investors own 41.40% of the company’s stock.

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.