Investors Title (NASDAQ:ITIC) Sees Strong Trading Volume – Here’s What Happened

Shares of Investors Title Company (NASDAQ:ITIC) saw strong trading volume on Thursday . Approximately 85,568 shares were traded during mid-day trading, an increase of 238% from the previous session’s volume of 25,289 shares.The stock last traded at $283.8450 and had previously closed at $279.39.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Investors Title from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Investors Title Trading Up 0.7%

The business has a 50-day moving average price of $246.62 and a 200-day moving average price of $243.29. The firm has a market cap of $531.68 million, a P/E ratio of 14.01 and a beta of 0.62.

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

Investors Title Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. Investors Title’s dividend payout ratio (DPR) is 9.15%.

Insider Activity at Investors Title

In other Investors Title news, Director Jr. Elton C. Parker purchased 538 shares of Investors Title stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average price of $231.00 per share, for a total transaction of $124,278.00. Following the acquisition, the director owned 3,750 shares in the company, valued at $866,250. This trade represents a 16.75% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 25.96% of the company’s stock.

Hedge Funds Weigh In On Investors Title

Hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers increased its holdings in Investors Title by 2.0% during the third quarter. Rhumbline Advisers now owns 2,160 shares of the insurance provider’s stock valued at $579,000 after buying an additional 42 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Investors Title by 6.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock worth $201,000 after buying an additional 49 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Investors Title by 34.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock worth $48,000 after buying an additional 49 shares during the period. Invesco Ltd. boosted its position in Investors Title by 4.0% during the 2nd quarter. Invesco Ltd. now owns 1,622 shares of the insurance provider’s stock valued at $343,000 after acquiring an additional 63 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in Investors Title by 2.3% during the 1st quarter. Royal Bank of Canada now owns 3,937 shares of the insurance provider’s stock valued at $949,000 after acquiring an additional 88 shares in the last quarter. 41.40% of the stock is currently owned by institutional investors.

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. 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.