Investors Title (NASDAQ:ITIC) Short Interest Update

Investors Title (NASDAQ:ITIC) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 26,300 shares, a growth of 41.4% from the October 15th total of 18,600 shares. Based on an average trading volume of 14,100 shares, the short-interest ratio is presently 1.9 days. Currently, 1.9% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, StockNews.com lowered Investors Title from a “buy” rating to a “hold” rating in a research report on Thursday.

Institutional Investors Weigh In On Investors Title

Institutional investors and hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. lifted its position in shares of Investors Title by 455.8% in 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 period. BNP Paribas Financial Markets raised its stake in Investors Title by 36.1% in the first 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 lifted its holdings in Investors Title by 73.6% during the third quarter. FMR LLC now owns 479 shares of the insurance provider’s stock worth $110,000 after buying an additional 203 shares during the period. SG Americas Securities LLC bought a new stake in Investors Title during the 3rd quarter valued at $117,000. Finally, Centiva Capital LP purchased a new position in shares of Investors Title in the 3rd quarter valued at $226,000. 41.40% of the stock is owned by institutional investors.

Investors Title Price Performance

Shares of NASDAQ:ITIC traded down $3.18 on Friday, hitting $271.60. 10,867 shares of the company’s stock were exchanged, compared to its average volume of 10,692. The stock has a market capitalization of $511.69 million, a price-to-earnings ratio of 17.97 and a beta of 0.85. Investors Title has a 12 month low of $141.41 and a 12 month high of $283.27. The business’s 50 day simple moving average is $235.29 and its two-hundred day simple moving average is $204.10.

Investors Title Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $14.46 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $57.84 annualized dividend and a yield of 21.30%. This is a boost from Investors Title’s previous quarterly dividend of $0.46. Investors Title’s dividend payout ratio is 12.18%.

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.