Investors Title (NASDAQ:ITIC) Lowered to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Investors Title (NASDAQ:ITIC) from a buy rating to a hold rating in a research note issued to investors on Monday.

Separately, Weiss Ratings upgraded shares of Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy”.

Investors Title Price Performance

NASDAQ:ITIC opened at $287.13 on Monday. Investors Title has a one year low of $200.95 and a one year high of $291.43. The company has a fifty day moving average price of $256.99 and a 200 day moving average price of $245.81. The stock has a market cap of $542.68 million, a P/E ratio of 14.29 and a beta of 0.63.

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

Investors Title Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, June 15th. Investors Title’s dividend payout ratio (DPR) is 9.15%.

Insider Activity

In other news, Director Jr. Elton C. Parker purchased 538 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average cost of $231.00 per share, with a total value of $124,278.00. Following the acquisition, the director directly owned 3,750 shares of the company’s stock, valued at approximately $866,250. This trade represents a 16.75% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 25.96% of the company’s stock.

Institutional Investors Weigh In On Investors Title

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of Investors Title during the fourth quarter worth approximately $36,000. CANADA LIFE ASSURANCE Co grew its stake in shares of Investors Title by 34.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 49 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Investors Title by 357.4% in the third quarter. Russell Investments Group Ltd. now owns 311 shares of the insurance provider’s stock valued at $83,000 after purchasing an additional 243 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Investors Title by 6.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock valued at $201,000 after purchasing an additional 49 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Investors Title in the fourth quarter valued at approximately $224,000. 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. 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.