Investors Title (NASDAQ:ITIC) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Investors Title (NASDAQ:ITIC) from a hold rating to a buy rating in a report issued on Saturday.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Investors Title in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy”.

Investors Title Stock Performance

Shares of ITIC opened at $235.72 on Friday. The company has a market capitalization of $445.51 million, a P/E ratio of 11.73 and a beta of 0.67. Investors Title has a one year low of $190.20 and a one year high of $288.98. The stock has a 50-day moving average price of $229.05 and a 200 day moving average price of $247.21.

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

Investors Title Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Monday, March 23rd. Investors Title’s dividend payout ratio is 9.15%.

Insider Transactions at Investors Title

In other news, Director Jr. Elton C. Parker purchased 538 shares of the firm’s stock in a transaction 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 purchase, the director owned 3,750 shares in the company, valued at $866,250. This trade represents a 16.75% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 25.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On Investors Title

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Investors Title during the 4th quarter worth $36,000. CANADA LIFE ASSURANCE Co boosted its stake in shares of Investors Title by 34.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock worth $48,000 after acquiring an additional 49 shares in the last quarter. Russell Investments Group Ltd. boosted its stake 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 acquiring an additional 243 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Investors Title by 6.5% during 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. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Investors Title during the 4th quarter worth $224,000. 41.40% of the stock is owned by institutional investors.

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.