Investors Title (NASDAQ:ITIC) Cut to Hold at StockNews.com

StockNews.com downgraded shares of Investors Title (NASDAQ:ITIC) from a buy rating to a hold rating in a research report released on Wednesday.

Investors Title Stock Down 0.7 %

Shares of NASDAQ:ITIC traded down $1.54 during trading on Wednesday, hitting $204.48. 20,722 shares of the company were exchanged, compared to its average volume of 9,191. Investors Title has a 1-year low of $127.71 and a 1-year high of $213.00. The company has a market capitalization of $385.24 million, a P/E ratio of 15.44 and a beta of 0.87. The business’s 50 day moving average is $185.59 and its 200-day moving average is $169.56.

Investors Title Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Friday, June 14th. Investors Title’s dividend payout ratio is currently 13.90%.

Institutional Investors Weigh In On Investors Title

Several hedge funds have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. raised its stake in shares of Investors Title by 2.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 9,790 shares of the insurance provider’s stock valued at $1,587,000 after acquiring an additional 263 shares during the last quarter. Franklin Resources Inc. raised its position in Investors Title by 34.9% during the 4th quarter. Franklin Resources Inc. now owns 10,724 shares of the insurance provider’s stock worth $1,739,000 after purchasing an additional 2,776 shares during the last quarter. Private Management Group Inc. acquired a new position in Investors Title during the 4th quarter worth about $209,000. O Shaughnessy Asset Management LLC grew its position in shares of Investors Title by 41.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,560 shares of the insurance provider’s stock valued at $581,000 after buying an additional 1,037 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Investors Title by 36.1% in the 1st quarter. BNP Paribas Financial Markets now owns 637 shares of the insurance provider’s stock valued at $104,000 after buying an additional 169 shares during the last quarter. 41.40% of the stock is currently 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.