Investors Title (NASDAQ:ITIC) Hits New 12-Month High – Here’s Why

Investors Title (NASDAQ:ITIC) hit a new 52-week high on Thursday . The company traded as high as $284.38 and last traded at $283.51, with a volume of 7366 shares. The stock had previously closed at $277.64.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Investors Title from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th.

Investors Title Price Performance

The stock has a market capitalization of $529.41 million, a price-to-earnings ratio of 18.63 and a beta of 0.85. The business’s fifty day moving average price is $238.47 and its 200-day moving average price is $206.51.

Investors Title Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $14.46 per share. This is a boost from Investors Title’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, December 2nd. This represents a $57.84 annualized dividend and a dividend yield of 20.54%. Investors Title’s payout ratio is presently 12.18%.

Institutional Investors Weigh In On Investors Title

Hedge funds have recently modified their holdings of the stock. Aristides Capital LLC purchased a new stake in shares of Investors Title during the 1st quarter valued at approximately $1,648,000. Barclays PLC increased its position in shares of Investors Title by 127.2% during the 3rd quarter. Barclays PLC now owns 2,406 shares of the insurance provider’s stock valued at $553,000 after purchasing an additional 1,347 shares during the last quarter. PDT Partners LLC bought a new position in Investors Title during the third quarter valued at approximately $267,000. O Shaughnessy Asset Management LLC raised its stake in shares of Investors Title by 41.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,560 shares of the insurance provider’s stock worth $581,000 after acquiring an additional 1,037 shares in the last quarter. Finally, Canal Capital Management LLC bought a new position in shares of Investors Title during the 3rd quarter valued at $230,000. Institutional investors 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.