Investors Title (NASDAQ:ITIC) Rating Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Investors Title (NASDAQ:ITIC) from a buy rating to a hold rating in a report published on Thursday morning.

Investors Title Stock Down 1.2 %

NASDAQ ITIC opened at $271.60 on Thursday. The stock has a market capitalization of $510.61 million, a P/E ratio of 17.97 and a beta of 0.85. Investors Title has a 52-week low of $141.41 and a 52-week high of $283.27. The firm has a 50-day moving average price of $235.29 and a 200 day moving average price of $204.40.

Investors Title Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $14.46 per share. This represents a $57.84 dividend on an annualized basis and a yield of 21.30%. The ex-dividend date is Monday, December 2nd. This is a positive change from Investors Title’s previous quarterly dividend of $0.46. Investors Title’s dividend payout ratio is currently 12.18%.

Institutional Investors Weigh In On Investors Title

Hedge funds and other institutional investors have recently bought and sold shares of the business. Aristides Capital LLC purchased a new position in shares of Investors Title in the 1st quarter valued at about $1,648,000. Barclays PLC grew its position in Investors Title by 127.2% during the third quarter. Barclays PLC now owns 2,406 shares of the insurance provider’s stock worth $553,000 after buying an additional 1,347 shares during the period. PDT Partners LLC purchased a new position in Investors Title in the third quarter valued at about $267,000. O Shaughnessy Asset Management LLC lifted its position in shares of Investors Title by 41.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 3,560 shares of the insurance provider’s stock valued at $581,000 after acquiring an additional 1,037 shares during the period. Finally, Canal Capital Management LLC purchased a new stake in shares of Investors Title during the 3rd quarter worth approximately $230,000. Institutional investors and hedge funds own 41.40% of the company’s stock.

Investors Title Company Profile

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.