Investors Title (NASDAQ:ITIC) Director Purchases $133,000.00 in Stock

Investors Title Company (NASDAQ:ITIC) Director Jr. Elton Parker bought 500 shares of the stock in a transaction on Wednesday, November 11th. The stock was purchased at an average cost of $266.00 per share, for a total transaction of $133,000.00. Following the acquisition, the director owned 4,250 shares of the company’s stock, valued at $1,130,500. This trade represents a 13.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Investors Title Stock Up 1.1%

NASDAQ:ITIC traded up $2.80 on Friday, hitting $254.39. The stock had a trading volume of 34,341 shares, compared to its average volume of 54,507. The business’s 50-day simple moving average is $284.01 and its two-hundred day simple moving average is $261.93. The stock has a market cap of $480.80 million, a price-to-earnings ratio of 12.80 and a beta of 0.60. Investors Title Company has a 52-week low of $209.75 and a 52-week high of $309.55.

Investors Title (NASDAQ:ITIC) last released its quarterly earnings results on Thursday, November 5th. The insurance provider reported $4.97 EPS for the quarter. Investors Title had a net margin of 12.47% and a return on equity of 13.43%. The firm had revenue of $83.55 million during the quarter.

Investors Title Dividend Announcement

The firm also recently disclosed a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a $19.27 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. Investors Title’s dividend payout ratio (DPR) is presently 9.26%.

Hedge Funds Weigh In On Investors Title

Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Investors Title during the second quarter valued at about $32,062,000. Bank of New York Mellon Corp purchased a new stake in Investors Title in the second quarter worth about $3,588,000. Bank of America Corp DE bought a new position in shares of Investors Title in the second quarter worth about $1,554,000. GSA Capital Partners LLP bought a new position in shares of Investors Title in the second quarter worth about $777,000. Finally, Aristides Capital LLC raised its stake in shares of Investors Title by 13.6% in the first quarter. Aristides Capital LLC now owns 18,953 shares of the insurance provider’s stock worth $4,119,000 after buying an additional 2,273 shares during the period. 41.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ITIC. Weiss Ratings lowered shares of Investors Title from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, November 3rd. Wall Street Zen downgraded shares of Investors Title from a “buy” rating to a “hold” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating. According to MarketBeat, Investors Title has a consensus rating of “Buy”.

About Investors Title

Investors Title Company (NASDAQ: ITIC) is a title insurance and real estate services company headquartered in Chapel Hill, North Carolina. Through its subsidiaries, it provides title insurance that helps protect property owners and mortgage lenders against certain losses arising from defects in a property’s title. The company also offers related services, including title examination and settlement support, as well as tax-deferred exchange services for real estate transactions. It distributes its products through a network of agents and its own operations in multiple U.S. states.