Investors Title (NASDAQ:ITIC) Short Interest Update

Investors Title (NASDAQ:ITIC) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 26,700 shares, an increase of 8.1% from the November 30th total of 24,700 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average daily trading volume, of 11,200 shares, the short-interest ratio is currently 2.4 days.

Investors Title Stock Performance

Investors Title stock opened at $236.76 on Thursday. The firm has a 50 day moving average price of $257.66 and a 200 day moving average price of $226.57. Investors Title has a fifty-two week low of $146.41 and a fifty-two week high of $290.40. The company has a market capitalization of $446.06 million, a PE ratio of 15.67 and a beta of 0.89.

Investors Title Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $14.46 dividend. This represents a $57.84 annualized dividend and a dividend yield of 24.43%. The ex-dividend date of this dividend was Monday, December 2nd. This is an increase from Investors Title’s previous quarterly dividend of $0.46. Investors Title’s payout ratio is currently 12.18%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Investors Title

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Investors Title by 187.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,260 shares of the insurance provider’s stock valued at $749,000 after acquiring an additional 2,126 shares in the last quarter. Barclays PLC boosted its stake in shares of Investors Title by 127.2% in the third 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 period. PDT Partners LLC acquired a new position in shares of Investors Title in the third quarter valued at approximately $267,000. Canal Capital Management LLC purchased a new stake in Investors Title during the 3rd quarter worth approximately $230,000. Finally, Centiva Capital LP acquired a new stake in Investors Title during the 3rd quarter worth approximately $226,000. Institutional investors and hedge funds 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.