Geode Capital Management LLC Grows Stock Holdings in Investors Title (NASDAQ:ITIC)

Geode Capital Management LLC increased its position in shares of Investors Title (NASDAQ:ITIC) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,275 shares of the insurance provider’s stock after purchasing an additional 809 shares during the period. Geode Capital Management LLC’s holdings in Investors Title were worth $7,648,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in shares of Investors Title by 6.0% in 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 last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Investors Title by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,169 shares of the insurance provider’s stock valued at $958,000 after purchasing an additional 142 shares in the last quarter. American Century Companies Inc. increased its stake in Investors Title by 27.0% in the second quarter. American Century Companies Inc. now owns 3,774 shares of the insurance provider’s stock valued at $680,000 after purchasing an additional 803 shares during the last quarter. Ritholtz Wealth Management raised its holdings in Investors Title by 9.0% during 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 in the last quarter. Finally, Barclays PLC lifted its position in shares of Investors Title by 127.2% during the 3rd quarter. Barclays PLC now owns 2,406 shares of the insurance provider’s stock worth $553,000 after buying an additional 1,347 shares during the last quarter. Hedge funds and other institutional investors own 41.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Investors Title from a “buy” rating to a “hold” rating in a research report on Wednesday.

Investors Title Price Performance

Investors Title stock opened at $233.48 on Friday. The business has a 50 day simple moving average of $257.62 and a 200-day simple moving average of $226.61. Investors Title has a 12 month low of $146.41 and a 12 month high of $290.40. The stock has a market capitalization of $439.88 million, a PE ratio of 15.45 and a beta of 0.89.

Investors Title Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $14.46 per share. 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 24.77%. The ex-dividend date was Monday, December 2nd. Investors Title’s payout ratio is presently 12.18%.

Investors Title 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.