Short Interest in Investors Title (NASDAQ:ITIC) Rises By 12.0%

Investors Title (NASDAQ:ITIC) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 18,600 shares, an increase of 12.0% from the September 30th total of 16,600 shares. Based on an average daily trading volume, of 17,400 shares, the days-to-cover ratio is currently 1.1 days. Currently, 1.3% of the company’s stock are short sold.

Institutional Investors Weigh In On Investors Title

Several large investors have recently added to or reduced their stakes in ITIC. BNP Paribas Financial Markets raised its holdings 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 acquiring an additional 169 shares in the last quarter. Rhumbline Advisers raised its stake in Investors Title by 9.1% in the second quarter. Rhumbline Advisers now owns 2,088 shares of the insurance provider’s stock valued at $376,000 after purchasing an additional 174 shares in the last quarter. Empowered Funds LLC lifted its position in Investors Title by 4.2% during the first quarter. Empowered Funds LLC now owns 4,302 shares of the insurance provider’s stock valued at $702,000 after purchasing an additional 175 shares during the last quarter. Ritholtz Wealth Management grew its stake in Investors Title by 9.0% in the 3rd quarter. Ritholtz Wealth Management now owns 2,703 shares of the insurance provider’s stock worth $621,000 after buying an additional 223 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in Investors Title in the 3rd quarter worth approximately $117,000. Institutional investors own 41.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Investors Title from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th.

Investors Title Trading Down 2.1 %

Shares of ITIC traded down $4.98 during trading hours on Thursday, reaching $231.28. 11,517 shares of the stock traded hands, compared to its average volume of 10,461. Investors Title has a 52 week low of $136.56 and a 52 week high of $243.74. The company has a market cap of $435.73 million, a price-to-earnings ratio of 17.47 and a beta of 0.85. The stock has a fifty day simple moving average of $228.11 and a 200 day simple moving average of $196.34.

Investors Title (NASDAQ:ITIC) last announced its earnings results on Tuesday, August 6th. The insurance provider reported $4.70 earnings per share for the quarter. Investors Title had a return on equity of 10.32% and a net margin of 11.25%. The firm had revenue of $65.38 million for the quarter.

Investors Title Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were issued a $0.46 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $1.84 annualized dividend and a dividend yield of 0.80%. Investors Title’s payout ratio is currently 13.90%.

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.