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

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

Investors Title Trading Down 1.0 %

NASDAQ ITIC traded down $2.80 during midday trading on Thursday, hitting $271.98. The company had a trading volume of 9,822 shares, compared to its average volume of 10,687. The company has a market capitalization of $511.32 million, a PE ratio of 18.19 and a beta of 0.85. The firm has a 50-day moving average price of $234.24 and a 200-day moving average price of $203.03. Investors Title has a twelve month low of $141.41 and a twelve month high of $283.27.

Investors Title Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $14.46 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $57.84 dividend on an annualized basis and a dividend yield of 21.27%. This is a boost from Investors Title’s previous quarterly dividend of $0.46. Investors Title’s payout ratio is 12.18%.

Hedge Funds Weigh In On Investors Title

Institutional investors have recently modified their holdings of the business. Meeder Asset Management Inc. raised its holdings 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 buying an additional 196 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Investors Title by 36.1% during the 1st quarter. BNP Paribas Financial Markets now owns 637 shares of the insurance provider’s stock worth $104,000 after buying an additional 169 shares in the last quarter. FMR LLC raised its holdings 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 buying an additional 203 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Investors Title during the 3rd quarter worth $117,000. Finally, Centiva Capital LP acquired a new position in shares of Investors Title during the 3rd quarter worth $226,000. 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.