Investors Title (NASDAQ:ITIC) Director Buys $124,278.00 in Stock

Investors Title Company (NASDAQ:ITIC) Director Jr. Elton Parker bought 538 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were purchased at an average cost of $231.00 per share, for a total transaction of $124,278.00. Following the transaction, the director owned 3,750 shares in the company, valued at approximately $866,250. This represents a 16.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Investors Title Stock Down 0.8%

Investors Title stock opened at $235.72 on Friday. Investors Title Company has a 52 week low of $190.20 and a 52 week high of $288.98. The company’s 50 day moving average price is $229.05 and its two-hundred day moving average price is $247.21. The stock has a market cap of $445.51 million, a P/E ratio of 11.73 and a beta of 0.67.

Investors Title (NASDAQ:ITIC) last posted its earnings results on Thursday, May 7th. The insurance provider reported $3.20 EPS for the quarter. Investors Title had a net margin of 13.59% and a return on equity of 14.03%. The firm had revenue of $63.49 million for the quarter.

Investors Title Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $1.84 annualized dividend and a dividend yield of 0.8%. Investors Title’s dividend payout ratio (DPR) is currently 9.15%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ITIC shares. Weiss Ratings reissued a “buy (b)” rating on shares of Investors Title in a research report on Thursday, January 22nd. Wall Street Zen raised shares of Investors Title from a “hold” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy”.

Institutional Investors Weigh In On Investors Title

A number of hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP raised its holdings in shares of Investors Title by 18.7% in the 3rd quarter. Two Sigma Investments LP now owns 42,303 shares of the insurance provider’s stock worth $11,330,000 after purchasing an additional 6,673 shares during the period. Geode Capital Management LLC raised its holdings in shares of Investors Title by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 36,696 shares of the insurance provider’s stock worth $9,163,000 after purchasing an additional 777 shares during the period. State Street Corp raised its holdings in shares of Investors Title by 7.6% in the 4th quarter. State Street Corp now owns 30,049 shares of the insurance provider’s stock worth $7,501,000 after purchasing an additional 2,127 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Investors Title by 110.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 20,140 shares of the insurance provider’s stock worth $5,028,000 after purchasing an additional 10,589 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Investors Title by 27.1% in the 4th quarter. BNP Paribas Financial Markets now owns 20,015 shares of the insurance provider’s stock worth $4,997,000 after purchasing an additional 4,268 shares during the period. Institutional investors 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. 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.