Investors Title (NASDAQ:ITIC) Posts Earnings Results

Investors Title (NASDAQ:ITIC) released its earnings results on Thursday. The insurance provider reported $4.97 earnings per share for the quarter, FiscalAI reports. The business had revenue of $83.55 million for the quarter. Investors Title had a return on equity of 14.62% and a net margin of 13.80%.

Investors Title Trading Up 0.8%

ITIC traded up $1.98 on Friday, hitting $263.28. The company had a trading volume of 28,857 shares, compared to its average volume of 38,957. The firm has a market cap of $497.08 million, a P/E ratio of 12.33 and a beta of 0.60. Investors Title has a 1 year low of $209.75 and a 1 year high of $309.55. The company’s fifty day moving average price is $288.54 and its 200 day moving average price is $261.76.

Investors Title Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, September 1st. Investors Title’s payout ratio is 8.62%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its stake in Investors Title by 6.3% during the third quarter. Russell Investments Group Ltd. now owns 962 shares of the insurance provider’s stock worth $272,000 after purchasing an additional 57 shares in the last quarter. Engineers Gate Manager LP boosted its position in shares of Investors Title by 137.6% during the second quarter. Engineers Gate Manager LP now owns 2,801 shares of the insurance provider’s stock worth $767,000 after buying an additional 1,622 shares during the period. Bank of America Corp DE acquired a new stake in shares of Investors Title in the second quarter valued at $1,554,000. Legal & General Group Plc acquired a new stake in shares of Investors Title in the second quarter valued at $100,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Investors Title in the second quarter valued at $290,000. Hedge funds and other institutional investors own 41.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings downgraded shares of Investors Title from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday. Wall Street Zen cut shares of Investors Title from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

About Investors Title

Investors Title Company (NASDAQ: ITIC) is an insurance and real estate services company headquartered in Chapel Hill, North Carolina. Founded in 1972, the company provides title insurance and related services that help protect property owners and lenders against losses arising from defects, claims, or other issues affecting real estate ownership.

Through its title insurance subsidiaries, including Investors Title Insurance Company and National Investors Title Insurance Company, the company offers lender’s and owner’s title insurance policies.