Investors Title (NASDAQ:ITIC) Downgraded to Hold Rating by StockNews.com

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

Investors Title Trading Up 1.9 %

Shares of Investors Title stock opened at $241.32 on Friday. The firm has a market capitalization of $454.65 million, a P/E ratio of 14.69 and a beta of 0.97. The business has a fifty day simple moving average of $228.84 and a two-hundred day simple moving average of $238.57. Investors Title has a 12 month low of $146.41 and a 12 month high of $290.40.

Investors Title (NASDAQ:ITIC) last announced its quarterly earnings data on Thursday, February 13th. The insurance provider reported $4.41 EPS for the quarter. The business had revenue of $70.63 million during the quarter. Investors Title had a return on equity of 11.84% and a net margin of 12.03%.

Investors Title Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 24th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Monday, March 24th. Investors Title’s dividend payout ratio is currently 11.20%.

Hedge Funds Weigh In On Investors Title

Several institutional investors and hedge funds have recently added to or reduced their stakes in ITIC. Meeder Asset Management Inc. raised its position 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 purchasing an additional 196 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Investors Title by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,169 shares of the insurance provider’s stock worth $958,000 after purchasing an additional 142 shares during the last quarter. FMR LLC raised its position in shares of Investors Title by 73.6% in the 3rd 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. BNP Paribas Financial Markets raised its position in shares of Investors Title by 65.6% in the 3rd 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. Finally, Martingale Asset Management L P raised its position in shares of Investors Title by 10.8% in the 3rd quarter. Martingale Asset Management L P now owns 1,431 shares of the insurance provider’s stock worth $329,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other 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.