SummerHaven Investment Management LLC Acquires Shares of 4,200 Investors Title Company $ITIC

SummerHaven Investment Management LLC bought a new position in shares of Investors Title Company (NASDAQ:ITIC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 4,200 shares of the insurance provider’s stock, valued at approximately $1,125,000. Investors Title accounts for 0.7% of SummerHaven Investment Management LLC’s investment portfolio, making the stock its 14th biggest position. SummerHaven Investment Management LLC owned about 0.22% of Investors Title at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Truist Financial Corp lifted its stake in shares of Investors Title by 3.2% during the 3rd quarter. Truist Financial Corp now owns 4,280 shares of the insurance provider’s stock valued at $1,146,000 after buying an additional 132 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Investors Title by 12,260.0% during the second quarter. BNP Paribas Financial Markets now owns 10,506 shares of the insurance provider’s stock worth $2,220,000 after acquiring an additional 10,421 shares in the last quarter. Brevan Howard Capital Management LP bought a new position in shares of Investors Title in the second quarter worth $240,000. Quantinno Capital Management LP purchased a new position in shares of Investors Title in the second quarter valued at $294,000. Finally, First Trust Advisors LP raised its stake in shares of Investors Title by 4.2% during the 2nd quarter. First Trust Advisors LP now owns 4,749 shares of the insurance provider’s stock valued at $1,003,000 after purchasing an additional 190 shares during the period. Institutional investors own 41.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Investors Title in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy”.

Investors Title Stock Down 1.3%

NASDAQ:ITIC opened at $253.41 on Wednesday. The stock has a market cap of $478.94 million, a P/E ratio of 13.33 and a beta of 0.66. The business’s 50-day moving average price is $255.91 and its two-hundred day moving average price is $250.62. Investors Title Company has a twelve month low of $190.20 and a twelve month high of $288.98.

Investors Title (NASDAQ:ITIC) last issued its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $6.45 EPS for the quarter. The company had revenue of $70.97 million during the quarter. Investors Title had a return on equity of 13.72% and a net margin of 13.15%.

Investors Title Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.46 per share. The ex-dividend date was Monday, December 1st. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. Investors Title’s dividend payout ratio (DPR) is 9.68%.

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. It offers services in connection with tax-deferred exchanges of like-kind property; acts as a qualified intermediary in tax-deferred exchanges of property; coordinates the exchange aspects of the real estate transaction, such as drafting standard exchange documents, holding the exchange funds between the sale of the old property and the purchase of the new property, and accepting the formal identification of the replacement property.