Short Interest in Investors Title (NASDAQ:ITIC) Decreases By 25.8%

Investors Title (NASDAQ:ITIC) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 17,000 shares, a decline of 25.8% from the February 13th total of 22,900 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 10,000 shares, the short-interest ratio is presently 1.7 days.

Investors Title Stock Up 1.9 %

Shares of NASDAQ:ITIC traded up $4.50 during midday trading on Friday, reaching $241.32. The company’s stock had a trading volume of 7,882 shares, compared to its average volume of 11,147. The firm has a 50 day moving average of $229.03 and a 200-day moving average of $238.79. The firm has a market capitalization of $454.65 million, a P/E ratio of 14.69 and a beta of 0.97. Investors Title has a 12-month low of $146.41 and a 12-month high of $290.40.

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

Investors Title Cuts Dividend

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

Hedge Funds Weigh In On Investors Title

A number of large investors have recently added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. purchased a new stake in Investors Title in the 4th quarter worth approximately $47,000. Meeder Asset Management Inc. increased its position in shares of Investors Title by 455.8% during 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. FMR LLC increased its position in shares of Investors Title by 73.6% during 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 boosted its holdings in Investors Title by 65.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 540 shares of the insurance provider’s stock valued at $124,000 after acquiring an additional 214 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in Investors Title by 21.0% during the 4th quarter. SG Americas Securities LLC now owns 616 shares of the insurance provider’s stock valued at $146,000 after acquiring an additional 107 shares during the period. 41.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.