Investors Title (NASDAQ:ITIC) Sees Strong Trading Volume – Here’s What Happened

Investors Title Company (NASDAQ:ITIC) shares saw unusually-strong trading volume on Monday . 49,653 shares traded hands during trading, an increase of 62% from the previous session’s volume of 30,572 shares.The stock last traded at $290.7550 and had previously closed at $287.71.

Wall Street Analyst Weigh In

A number of brokerages have commented on ITIC. Wall Street Zen cut shares of Investors Title from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Investors Title Stock Up 0.6%

The stock has a market cap of $546.94 million, a P/E ratio of 13.55 and a beta of 0.63. The firm has a 50 day simple moving average of $275.50 and a 200-day simple moving average of $250.46.

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 return on equity of 14.62% and a net margin of 13.80%.The business had revenue of $81.71 million for the quarter.

Investors Title Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.84 annualized dividend and a dividend yield of 0.6%. Investors Title’s dividend payout ratio is presently 8.62%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd acquired a new stake in Investors Title during the fourth quarter worth approximately $36,000. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Investors Title by 34.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock worth $48,000 after acquiring an additional 49 shares during the period. Russell Investments Group Ltd. grew its position in shares of Investors Title by 357.4% in the third quarter. Russell Investments Group Ltd. now owns 311 shares of the insurance provider’s stock valued at $83,000 after purchasing an additional 243 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Investors Title in the second quarter valued at approximately $100,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Investors Title by 6.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock worth $201,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds 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.