Investors Title (NASDAQ:ITIC) Sets New 12-Month High – Here’s What Happened

Investors Title Company (NASDAQ:ITIC) reached a new 52-week high on Wednesday . The stock traded as high as $297.99 and last traded at $295.19, with a volume of 31023 shares trading hands. The stock had previously closed at $291.16.

Analysts Set New Price Targets

ITIC has been the topic of several research reports. Wall Street Zen lowered Investors Title from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Buy rating, According to MarketBeat, Investors Title has an average rating of “Buy”.

Investors Title Price Performance

The stock has a market cap of $544.62 million, a price-to-earnings ratio of 13.50 and a beta of 0.63. The stock’s 50 day simple moving average is $278.82 and its two-hundred day simple moving average is $251.43.

Investors Title (NASDAQ:ITIC) last announced its quarterly earnings data on Thursday, August 6th. The insurance provider reported $7.73 earnings per share (EPS) for the quarter. The company had revenue of $81.71 million during the quarter. Investors Title had a net margin of 13.80% and a return on equity of 14.62%.

Investors Title Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.84 dividend on an annualized basis and a yield of 0.6%. Investors Title’s payout ratio is presently 8.62%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITIC. Caitong International Asset Management Co. Ltd acquired a new stake in Investors Title during the fourth quarter valued at approximately $36,000. CANADA LIFE ASSURANCE Co raised its holdings in shares of Investors Title by 34.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock worth $48,000 after buying an additional 49 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Investors Title by 357.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 311 shares of the insurance provider’s stock worth $83,000 after buying an additional 243 shares during the period. Legal & General Group Plc bought a new position in shares of Investors Title during the 2nd quarter worth approximately $100,000. Finally, Price T Rowe Associates Inc. MD boosted 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 valued at $201,000 after buying an additional 49 shares in the last quarter. Institutional investors 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.