Investors Title (NASDAQ:ITIC) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Investors Title (NASDAQ:ITIC) from a hold rating to a buy rating in a research note released on Saturday.

Investors Title Stock Up 2.2 %

Shares of NASDAQ ITIC opened at $242.73 on Friday. The firm has a market cap of $457.79 million, a price-to-earnings ratio of 14.77 and a beta of 0.97. The company’s 50-day simple moving average is $231.14 and its 200-day simple moving average is $239.66. Investors Title has a 52-week low of $146.41 and a 52-week high of $290.40.

Investors Title (NASDAQ:ITIC) last issued its quarterly earnings results on Thursday, February 13th. The insurance provider reported $4.41 earnings per share for the quarter. Investors Title had a net margin of 12.03% and a return on equity of 11.84%. The firm had revenue of $70.63 million for the quarter.

Investors Title Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 24th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Monday, March 24th. Investors Title’s dividend payout ratio is currently 11.20%.

Institutional Investors Weigh In On Investors Title

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Deutsche Bank AG raised its position in shares of Investors Title by 33.6% in the fourth quarter. Deutsche Bank AG now owns 1,448 shares of the insurance provider’s stock valued at $343,000 after buying an additional 364 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Investors Title in the 4th quarter valued at about $513,000. Bank of America Corp DE raised its holdings in Investors Title by 6.7% in the 4th quarter. Bank of America Corp DE now owns 7,951 shares of the insurance provider’s stock valued at $1,882,000 after acquiring an additional 497 shares during the last quarter. Northern Trust Corp lifted its stake in Investors Title by 6.5% in the 4th quarter. Northern Trust Corp now owns 14,562 shares of the insurance provider’s stock worth $3,448,000 after purchasing an additional 892 shares in the last quarter. Finally, Barclays PLC boosted its holdings in shares of Investors Title by 6.1% during the 4th quarter. Barclays PLC now owns 2,553 shares of the insurance provider’s stock worth $604,000 after purchasing an additional 147 shares during the last quarter. 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.