Investors Title Company (NASDAQ:ITIC) Short Interest Down 16.3% in December

Investors Title Company (NASDAQ:ITIC) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totaling 48,886 shares, a decrease of 16.3% from the November 30th total of 58,438 shares. Based on an average daily trading volume, of 17,809 shares, the days-to-cover ratio is presently 2.7 days. Approximately 3.5% of the shares of the company are short sold. Approximately 3.5% of the shares of the company are short sold. Based on an average daily trading volume, of 17,809 shares, the days-to-cover ratio is presently 2.7 days.

Institutional Trading of Investors Title

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its holdings in Investors Title by 486.5% during the third quarter. Millennium Management LLC now owns 16,815 shares of the insurance provider’s stock worth $4,504,000 after buying an additional 13,948 shares in the last quarter. Creative Planning bought a new position in shares of Investors Title in the third quarter valued at $365,000. Lazard Asset Management LLC acquired a new stake in shares of Investors Title during the 3rd quarter valued at $1,463,000. Two Sigma Investments LP boosted its stake in shares of Investors Title by 18.7% during the 3rd quarter. Two Sigma Investments LP now owns 42,303 shares of the insurance provider’s stock worth $11,330,000 after acquiring an additional 6,673 shares in the last quarter. Finally, UBS Group AG grew its holdings in shares of Investors Title by 18.2% in the 3rd quarter. UBS Group AG now owns 6,828 shares of the insurance provider’s stock worth $1,829,000 after acquiring an additional 1,051 shares during the last quarter. 41.40% of the stock is owned by institutional investors and hedge funds.

Investors Title Stock Down 0.4%

ITIC traded down $1.02 during trading on Thursday, reaching $249.64. The stock had a trading volume of 13,275 shares, compared to its average volume of 15,789. The stock has a 50 day moving average of $262.68 and a two-hundred day moving average of $244.60. The firm has a market capitalization of $471.82 million, a price-to-earnings ratio of 13.13 and a beta of 0.62. Investors Title has a 1-year low of $190.20 and a 1-year high of $288.98.

Investors Title (NASDAQ:ITIC) last announced its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $6.45 earnings per share for the quarter. The business had revenue of $70.97 million during the quarter. Investors Title had a return on equity of 13.72% and a net margin of 13.15%.

Investors Title Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.46 per share. The ex-dividend date was Monday, December 1st. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. Investors Title’s dividend payout ratio (DPR) is 9.68%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Investors Title in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy”.

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.