Investors Title (NASDAQ:ITIC) Hits New 1-Year High – Here’s Why

Investors Title Company (NASDAQ:ITIC) hit a new 52-week high during trading on Friday . The company traded as high as $291.44 and last traded at $289.37, with a volume of 3745 shares. The stock had previously closed at $283.96.

Analysts Set New Price Targets

ITIC has been the topic of a number of research reports. Wall Street Zen upgraded Investors Title from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Weiss Ratings raised Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Investors Title presently has a consensus rating of “Buy”.

Investors Title Price Performance

The stock has a market capitalization of $541.06 million, a price-to-earnings ratio of 14.24 and a beta of 0.63. The stock’s 50 day simple moving average is $254.93 and its 200-day simple moving average is $245.29.

Investors Title (NASDAQ:ITIC) last announced its quarterly earnings results on Thursday, May 7th. The insurance provider reported $3.20 EPS for the quarter. The company had revenue of $63.49 million for the quarter. Investors Title had a net margin of 13.59% and a return on equity of 14.03%.

Investors Title Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. Investors Title’s dividend payout ratio is presently 9.15%.

Insiders Place Their Bets

In related news, Director Jr. Elton C. Parker purchased 538 shares of Investors Title stock in a transaction on Wednesday, May 13th. The stock was bought at an average price of $231.00 per share, with a total value of $124,278.00. Following the completion of the transaction, the director directly owned 3,750 shares of the company’s stock, valued at approximately $866,250. This represents a 16.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 25.96% of the stock is currently owned by company insiders.

Institutional Trading of Investors Title

Several large investors have recently made changes to their positions in ITIC. Aristides Capital LLC increased its holdings in shares of Investors Title by 13.6% during the 1st quarter. Aristides Capital LLC now owns 18,953 shares of the insurance provider’s stock valued at $4,119,000 after acquiring an additional 2,273 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Investors Title in the 4th quarter worth approximately $36,000. Invesco Ltd. boosted its position in Investors Title by 30.7% during the fourth quarter. Invesco Ltd. now owns 4,027 shares of the insurance provider’s stock worth $1,005,000 after purchasing an additional 945 shares during the period. Engineers Gate Manager LP bought a new stake in Investors Title during the fourth quarter worth approximately $226,000. Finally, AQR Capital Management LLC grew its holdings in Investors Title by 8.3% during the fourth quarter. AQR Capital Management LLC now owns 1,838 shares of the insurance provider’s stock valued at $459,000 after purchasing an additional 141 shares during the last quarter. Institutional investors 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. It offers services in connection with tax-deferred exchanges of like-kind property; acts as a qualified intermediary in tax-deferred exchanges of property; coordinates the exchange aspects of the real estate transaction, such as drafting standard exchange documents, holding the exchange funds between the sale of the old property and the purchase of the new property, and accepting the formal identification of the replacement property.