Investors Title (NASDAQ:ITIC) Sees Large Drop in Short Interest

Investors Title (NASDAQ:ITIC) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 23,400 shares, a drop of 12.4% from the December 15th total of 26,700 shares. Approximately 1.7% of the shares of the company are sold short. Based on an average trading volume of 11,900 shares, the short-interest ratio is presently 2.0 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Investors Title from a “hold” rating to a “buy” rating in a research report on Monday, January 13th.

Investors Title Price Performance

Shares of ITIC traded up $0.06 during mid-day trading on Friday, reaching $228.05. 17,538 shares of the company’s stock were exchanged, compared to its average volume of 8,748. The stock has a market capitalization of $428.73 million, a PE ratio of 15.09 and a beta of 0.92. The business’s fifty day simple moving average is $254.98 and its 200-day simple moving average is $230.80. Investors Title has a 52-week low of $146.41 and a 52-week high of $290.40.

Investors Title Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $14.46 per share. The ex-dividend date was Monday, December 2nd. This is a positive change from Investors Title’s previous quarterly dividend of $0.46. This represents a $57.84 dividend on an annualized basis and a dividend yield of 25.36%. Investors Title’s dividend payout ratio (DPR) is 12.18%.

Hedge Funds Weigh In On Investors Title

A number of hedge funds have recently modified their holdings of ITIC. SG Americas Securities LLC grew its position in Investors Title by 21.0% in the 4th quarter. SG Americas Securities LLC now owns 616 shares of the insurance provider’s stock valued at $146,000 after buying an additional 107 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Investors Title by 225.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 650 shares of the insurance provider’s stock valued at $154,000 after buying an additional 450 shares during the last quarter. Trust Co of the South purchased a new position in Investors Title in the 4th quarter valued at $322,000. 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 buying an additional 2,126 shares during the last quarter. Finally, Barclays PLC grew its position in Investors Title by 127.2% in the 3rd quarter. Barclays PLC now owns 2,406 shares of the insurance provider’s stock valued at $553,000 after buying an additional 1,347 shares during the last quarter. 41.40% of the stock is currently owned by hedge funds and other institutional investors.

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.