Jr. Elton Parker Purchases 538 Shares of Investors Title (NASDAQ:ITIC) Stock

Investors Title Company (NASDAQ:ITIC) Director Jr. Elton Parker purchased 538 shares of the stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of $231.00 per share, for a total transaction of $124,278.00. Following the completion of the acquisition, the director owned 3,750 shares of the company’s stock, valued at approximately $866,250. This represents a 16.75% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Investors Title Trading Up 2.4%

Shares of Investors Title stock opened at $237.59 on Friday. Investors Title Company has a 12-month low of $190.20 and a 12-month high of $288.98. The company has a market cap of $449.05 million, a price-to-earnings ratio of 11.82 and a beta of 0.67. The company’s 50-day moving average price is $228.90 and its 200-day moving average price is $247.29.

Investors Title (NASDAQ:ITIC) last announced its earnings results on Thursday, May 7th. The insurance provider reported $3.20 earnings per share for the quarter. Investors Title had a net margin of 13.59% and a return on equity of 14.03%. The business had revenue of $63.49 million for the quarter.

Investors Title Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were issued a $0.46 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.8%. Investors Title’s dividend payout ratio is presently 9.15%.

Hedge Funds Weigh In On Investors Title

A number of institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers grew its position in Investors Title by 2.0% during the third quarter. Rhumbline Advisers now owns 2,160 shares of the insurance provider’s stock valued at $579,000 after acquiring an additional 42 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in 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 valued at $201,000 after acquiring an additional 49 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position in Investors Title by 34.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock valued at $48,000 after acquiring an additional 49 shares during the last quarter. Invesco Ltd. grew its position in Investors Title by 4.0% during the second quarter. Invesco Ltd. now owns 1,622 shares of the insurance provider’s stock valued at $343,000 after acquiring an additional 63 shares during the last quarter. Finally, Royal Bank of Canada grew its position in Investors Title by 2.3% during the first quarter. Royal Bank of Canada now owns 3,937 shares of the insurance provider’s stock valued at $949,000 after acquiring an additional 88 shares during the last quarter. Institutional investors own 41.40% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Investors Title in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

About Investors Title

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.