Investors Title (NASDAQ:ITIC) Reaches New 52-Week High After Dividend Announcement

Investors Title (NASDAQ:ITIC)’s share price reached a new 52-week high on Tuesday following a dividend announcement from the company. The company traded as high as $270.00 and last traded at $270.00, with a volume of 5814 shares traded. The stock had previously closed at $259.38.

The newly announced dividend which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $14.46 dividend. This is an increase from Investors Title’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $57.84 dividend on an annualized basis and a dividend yield of 21.20%. Investors Title’s dividend payout ratio (DPR) is presently 12.18%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Investors Title from a “buy” rating to a “hold” rating in a report on Thursday.

Investors Title Stock Performance

The stock’s fifty day moving average is $233.21 and its 200 day moving average is $202.53. The stock has a market cap of $513.03 million, a P/E ratio of 18.06 and a beta of 0.85.

Institutional Trading of Investors Title

Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in Investors Title by 65.6% in the third quarter. BNP Paribas Financial Markets now owns 540 shares of the insurance provider’s stock worth $124,000 after purchasing an additional 214 shares during the last quarter. FMR LLC lifted its stake in Investors Title by 73.6% in the third quarter. FMR LLC now owns 479 shares of the insurance provider’s stock worth $110,000 after purchasing an additional 203 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Investors Title by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,169 shares of the insurance provider’s stock valued at $958,000 after acquiring an additional 142 shares in the last quarter. Meeder Asset Management Inc. raised its stake in shares of Investors Title by 455.8% during the third quarter. Meeder Asset Management Inc. now owns 239 shares of the insurance provider’s stock valued at $55,000 after acquiring an additional 196 shares in the last quarter. Finally, Canal Capital Management LLC bought a new stake in shares of Investors Title during the third quarter valued at approximately $230,000. 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.