Investors Title (NASDAQ:ITIC) Posts Earnings Results

Investors Title (NASDAQ:ITIC) posted its quarterly earnings data on Thursday. The insurance provider reported $7.73 EPS for the quarter, FiscalAI reports. The business had revenue of $81.71 million for the quarter. Investors Title had a net margin of 13.59% and a return on equity of 14.03%.

Investors Title Trading Up 2.2%

ITIC stock traded up $6.26 on Thursday, hitting $295.43. 228,314 shares of the company’s stock traded hands, compared to its average volume of 30,206. Investors Title has a 1-year low of $209.75 and a 1-year high of $297.31. The stock has a market cap of $558.36 million, a price-to-earnings ratio of 14.70 and a beta of 0.63. The stock has a fifty day moving average of $269.61 and a 200-day moving average of $249.12.

Investors Title Dividend Announcement

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

Insider Transactions at Investors Title

In related news, Director Jr. Elton C. Parker purchased 538 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were bought at an average price of $231.00 per share, with a total value of $124,278.00. Following the completion of the acquisition, the director owned 3,750 shares of the company’s stock, valued at approximately $866,250. This represents a 16.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 25.96% of the company’s stock.

Hedge Funds Weigh In On Investors Title

Hedge funds have recently modified their holdings of the stock. Aristides Capital LLC lifted its position in shares of Investors Title by 13.6% in the 1st quarter. Aristides Capital LLC now owns 18,953 shares of the insurance provider’s stock valued at $4,119,000 after acquiring an additional 2,273 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Investors Title by 34.0% in 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. Caitong International Asset Management Co. Ltd purchased a new position in shares of Investors Title during the fourth quarter valued at $36,000. Truist Financial Corp raised its position in Investors Title by 11.7% during the fourth quarter. Truist Financial Corp now owns 4,780 shares of the insurance provider’s stock valued at $1,193,000 after buying an additional 500 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Investors Title by 6.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock worth $201,000 after acquiring an additional 49 shares in the last quarter. 41.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ITIC. Wall Street Zen cut Investors Title from a “buy” rating to a “hold” rating in a research report on Wednesday. Weiss Ratings upgraded Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy”.

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.