Investors Title (NASDAQ:ITIC) Cut to “Hold” at StockNews.com

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

Investors Title Trading Down 0.6 %

NASDAQ ITIC opened at $232.07 on Wednesday. Investors Title has a 12-month low of $146.41 and a 12-month high of $290.40. The company has a fifty day simple moving average of $257.62 and a two-hundred day simple moving average of $227.00. The stock has a market cap of $437.22 million, a P/E ratio of 15.36 and a beta of 0.92.

Investors Title Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $14.46 per share. This is an increase from Investors Title’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $57.84 dividend on an annualized basis and a dividend yield of 24.92%. Investors Title’s payout ratio is 12.18%.

Institutional Trading of Investors Title

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in Investors Title by 2.5% during the third quarter. Geode Capital Management LLC now owns 33,275 shares of the insurance provider’s stock valued at $7,648,000 after purchasing an additional 809 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Investors Title by 6.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,607 shares of the insurance provider’s stock valued at $2,271,000 after purchasing an additional 710 shares during the period. Charles Schwab Investment Management Inc. grew its position in Investors Title by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,169 shares of the insurance provider’s stock valued at $958,000 after buying an additional 142 shares during the period. American Century Companies Inc. raised its position in shares of Investors Title by 27.0% in the second quarter. American Century Companies Inc. now owns 3,774 shares of the insurance provider’s stock worth $680,000 after acquiring an additional 803 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Investors Title by 187.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,260 shares of the insurance provider’s stock worth $749,000 after acquiring an additional 2,126 shares in the last quarter. 41.40% of the stock is currently owned by institutional investors and hedge funds.

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.