Investors Title (NASDAQ:ITIC) Sees Unusually-High Trading Volume – What’s Next?

Investors Title Company (NASDAQ:ITIC) shares saw strong trading volume on Thursday . Approximately 76,037 shares changed hands during trading, an increase of 173% from the previous session’s volume of 27,859 shares.The stock last traded at $294.80 and had previously closed at $289.17.

Analyst Ratings Changes

Several analysts recently weighed in on ITIC shares. Wall Street Zen lowered Investors Title from a “buy” rating to a “hold” rating in a research note on Wednesday. Weiss Ratings raised shares of Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. One 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 Up 1.1%

The company has a 50 day moving average price of $268.47 and a 200-day moving average price of $248.83. The company has a market cap of $552.29 million, a price-to-earnings ratio of 14.53 and a beta of 0.63.

Investors Title (NASDAQ:ITIC) last posted its earnings results on Thursday, August 6th. The insurance provider reported $7.73 earnings per share for the quarter. Investors Title had a net margin of 13.59% and a return on equity of 14.03%. The firm had revenue of $81.71 million for the quarter.

Investors Title Announces Dividend

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

Insider Buying and Selling at Investors Title

In other Investors Title news, Director Jr. Elton C. Parker purchased 538 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $231.00 per share, with a total value of $124,278.00. Following the transaction, the director owned 3,750 shares in the company, valued at $866,250. The trade was 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 the SEC website. 25.96% of the stock is owned by corporate insiders.

Institutional Trading of Investors Title

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp purchased a new stake in shares of Investors Title in the second quarter worth approximately $3,588,000. GSA Capital Partners LLP bought a new stake in Investors Title during the second quarter worth $777,000. Aristides Capital LLC raised its position in Investors Title by 13.6% in the 1st quarter. Aristides Capital LLC now owns 18,953 shares of the insurance provider’s stock valued at $4,119,000 after buying an additional 2,273 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Investors Title in the 4th quarter valued at $36,000. Finally, Invesco Ltd. lifted its stake in Investors Title by 30.7% during the 4th quarter. Invesco Ltd. now owns 4,027 shares of the insurance provider’s stock valued at $1,005,000 after acquiring an additional 945 shares in the last quarter. 41.40% of the stock is owned by 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. 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.