StockNews.com Upgrades Investors Title (NASDAQ:ITIC) to “Buy”

StockNews.com upgraded shares of Investors Title (NASDAQ:ITIC) from a hold rating to a buy rating in a report published on Monday.

Investors Title Stock Up 1.3 %

Shares of Investors Title stock opened at $217.54 on Monday. Investors Title has a 12 month low of $146.41 and a 12 month high of $290.40. The business has a fifty day simple moving average of $256.91 and a 200 day simple moving average of $229.50. The stock has a market cap of $409.85 million, a PE ratio of 14.40 and a beta of 0.92.

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 given a $14.46 dividend. This represents a $57.84 dividend on an annualized basis and a dividend yield of 26.59%. This is an increase from Investors Title’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, December 2nd. Investors Title’s dividend payout ratio (DPR) is currently 12.18%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Investors Title by 3.5% during the third 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. BNP Paribas Financial Markets raised its holdings in Investors Title by 65.6% during 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. Barclays PLC lifted its stake in Investors Title by 127.2% in the third quarter. Barclays PLC now owns 2,406 shares of the insurance provider’s stock valued at $553,000 after buying an additional 1,347 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Investors Title by 33.2% in the third quarter. Jane Street Group LLC now owns 2,096 shares of the insurance provider’s stock valued at $482,000 after buying an additional 523 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Investors Title by 2.5% during the third quarter. Geode Capital Management LLC now owns 33,275 shares of the insurance provider’s stock worth $7,648,000 after acquiring an additional 809 shares in the last quarter. Institutional investors and hedge funds 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.