Investors Title (NASDAQ:ITIC) Sees Strong Trading Volume – What’s Next?

Investors Title Company (NASDAQ:ITIC) shares saw unusually-strong trading volume on Thursday . Approximately 76,037 shares changed hands during mid-day trading, an increase of 173% from the previous session’s volume of 27,859 shares.The stock last traded at $294.80 and had previously closed at $289.17.

Analysts Set New Price Targets

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

Investors Title Price Performance

The stock has a 50-day moving average price of $270.72 and a 200-day moving average price of $249.41. The company has a market capitalization of $547.80 million, a price-to-earnings ratio of 13.58 and a beta of 0.63.

Investors Title (NASDAQ:ITIC) last released its quarterly earnings data on Thursday, August 6th. The insurance provider reported $7.73 EPS for the quarter. The firm had revenue of $81.71 million during the quarter. Investors Title had a net margin of 13.80% and a return on equity of 14.81%.

Investors Title Dividend Announcement

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

Insider Activity

In other Investors Title news, Director Jr. Elton C. Parker purchased 538 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of $231.00 per share, with a total value of $124,278.00. Following the completion of the transaction, the director owned 3,750 shares in the company, valued at $866,250. The trade was a 16.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 25.96% of the company’s stock.

Institutional Trading of Investors Title

Several large investors have recently modified their holdings of ITIC. Aristides Capital LLC increased its holdings in 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 buying an additional 2,273 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Investors Title during the 4th quarter worth approximately $36,000. Truist Financial Corp boosted its position in shares of Investors Title by 11.7% during the 4th quarter. Truist Financial Corp now owns 4,780 shares of the insurance provider’s stock worth $1,193,000 after acquiring an additional 500 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Investors Title during the 2nd quarter worth approximately $3,588,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Investors Title during the 4th quarter worth approximately $226,000. 41.40% of the stock is owned by institutional investors and hedge funds.

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.