StockNews.com Upgrades Investors Title (NASDAQ:ITIC) to Buy

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

Investors Title Price Performance

Shares of NASDAQ ITIC traded up $4.89 during midday trading on Wednesday, hitting $251.47. 5,055 shares of the company’s stock were exchanged, compared to its average volume of 15,024. The firm’s fifty day simple moving average is $230.59 and its 200-day simple moving average is $200.07. The company has a market cap of $472.76 million, a PE ratio of 16.64 and a beta of 0.85. Investors Title has a twelve month low of $141.41 and a twelve month high of $259.00.

Investors Title (NASDAQ:ITIC) last released its earnings results on Tuesday, August 6th. The insurance provider reported $4.70 EPS for the quarter. Investors Title had a return on equity of 11.16% and a net margin of 11.83%. The company had revenue of $65.38 million for the quarter.

Investors Title Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend was Tuesday, September 3rd. Investors Title’s dividend payout ratio is currently 12.18%.

Hedge Funds Weigh In On Investors Title

Hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. grew its holdings in shares of Investors Title by 455.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 239 shares of the insurance provider’s stock worth $55,000 after acquiring an additional 196 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Investors Title by 36.1% during the first quarter. BNP Paribas Financial Markets now owns 637 shares of the insurance provider’s stock valued at $104,000 after purchasing an additional 169 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Investors Title during the third quarter valued at $117,000. Canal Capital Management LLC acquired a new stake in Investors Title during the third quarter valued at $230,000. Finally, Rhumbline Advisers boosted its position in Investors Title by 9.1% during 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 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.