Investors Title (NASDAQ:ITIC) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Investors Title (NASDAQ:ITIC) from a hold rating to a buy rating in a report published on Tuesday.

Separately, Weiss Ratings upgraded Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Investors Title presently has a consensus rating of “Buy”.

Investors Title Stock Performance

Shares of NASDAQ ITIC opened at $290.71 on Tuesday. The firm has a market cap of $548.86 million, a price-to-earnings ratio of 14.46 and a beta of 0.63. The business’s 50-day simple moving average is $262.62 and its 200-day simple moving average is $247.20. Investors Title has a 52 week low of $207.73 and a 52 week high of $291.55.

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

Investors Title Dividend Announcement

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

Insider Activity

In other Investors Title news, Director Jr. Elton C. Parker acquired 538 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $231.00 per share, for a total transaction of $124,278.00. Following the completion of the purchase, the director owned 3,750 shares of the company’s stock, valued at approximately $866,250. This trade represents a 16.75% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 25.96% of the company’s stock.

Institutional Trading of Investors Title

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC increased its position in Investors Title by 486.5% during the third quarter. Millennium Management LLC now owns 16,815 shares of the insurance provider’s stock worth $4,504,000 after acquiring an additional 13,948 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Investors Title by 110.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 20,140 shares of the insurance provider’s stock valued at $5,028,000 after purchasing an additional 10,589 shares during the period. BNP Paribas Financial Markets grew its position in Investors Title by 12,260.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,506 shares of the insurance provider’s stock worth $2,220,000 after purchasing an additional 10,421 shares during the last quarter. Two Sigma Investments LP grew its position in Investors Title by 18.7% in the 3rd quarter. Two Sigma Investments LP now owns 42,303 shares of the insurance provider’s stock worth $11,330,000 after purchasing an additional 6,673 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of Investors Title during the 3rd quarter worth about $1,463,000. 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.