Profit Investment Management LLC Cuts Holdings in Investors Title Company $ITIC

Profit Investment Management LLC lowered its position in Investors Title Company (NASDAQ:ITIC) by 34.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,516 shares of the insurance provider’s stock after selling 2,420 shares during the quarter. Investors Title accounts for 1.5% of Profit Investment Management LLC’s investment portfolio, making the stock its 24th biggest position. Profit Investment Management LLC owned 0.24% of Investors Title worth $1,210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its stake in shares of Investors Title by 12,260.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 10,506 shares of the insurance provider’s stock valued at $2,220,000 after purchasing an additional 10,421 shares in the last quarter. Aristides Capital LLC increased its position in Investors Title by 33.6% during the 2nd quarter. Aristides Capital LLC now owns 15,920 shares of the insurance provider’s stock worth $3,364,000 after purchasing an additional 4,000 shares in the last quarter. Nuveen LLC purchased a new position in Investors Title in the first quarter valued at approximately $861,000. Militia Capital Partners LP acquired a new position in Investors Title during the first quarter valued at approximately $809,000. Finally, American Century Companies Inc. lifted its position in Investors Title by 19.7% during the second quarter. American Century Companies Inc. now owns 15,791 shares of the insurance provider’s stock valued at $3,337,000 after buying an additional 2,599 shares in the last quarter. 41.40% of the stock is currently owned by institutional investors and hedge funds.

Investors Title Stock Down 1.4%

Shares of NASDAQ:ITIC opened at $254.24 on Monday. The company has a market capitalization of $480.51 million, a price-to-earnings ratio of 13.37 and a beta of 0.62. The company has a 50 day moving average of $264.28 and a two-hundred day moving average of $242.00. Investors Title Company has a 52-week low of $190.20 and a 52-week high of $288.98.

Investors Title (NASDAQ:ITIC) last posted its earnings results on Wednesday, November 5th. The insurance provider reported $6.45 EPS for the quarter. The business had revenue of $70.97 million for the quarter. Investors Title had a net margin of 13.15% and a return on equity of 13.72%.

Investors Title Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, December 1st. Investors Title’s dividend payout ratio is presently 9.68%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Investors Title in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Investors Title has a consensus rating of “Buy”.

Investors Title 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.