Virtu Financial LLC Acquires New Stake in Investors Title (NASDAQ:ITIC)

Virtu Financial LLC acquired a new stake in Investors Title (NASDAQ:ITIC) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,731 shares of the insurance provider’s stock, valued at approximately $410,000.

A number of other large investors also recently bought and sold shares of ITIC. Geode Capital Management LLC increased its stake in shares of Investors Title by 2.5% during the third quarter. Geode Capital Management LLC now owns 33,275 shares of the insurance provider’s stock worth $7,648,000 after acquiring an additional 809 shares during the period. Bank of New York Mellon Corp boosted its holdings in Investors Title by 21.9% in the 4th quarter. Bank of New York Mellon Corp now owns 14,721 shares of the insurance provider’s stock valued at $3,485,000 after purchasing an additional 2,648 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Investors Title by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,169 shares of the insurance provider’s stock worth $958,000 after purchasing an additional 142 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Investors Title by 187.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,260 shares of the insurance provider’s stock worth $749,000 after buying an additional 2,126 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Investors Title by 127.2% in the 3rd quarter. Barclays PLC now owns 2,406 shares of the insurance provider’s stock valued at $553,000 after buying an additional 1,347 shares during the period. Hedge funds and other institutional investors own 41.40% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Investors Title from a “hold” rating to a “buy” rating in a report on Saturday, March 22nd.

Investors Title Stock Up 0.7 %

Shares of ITIC opened at $241.42 on Thursday. Investors Title has a 52-week low of $146.41 and a 52-week high of $290.40. The company has a 50-day simple moving average of $231.72 and a 200-day simple moving average of $239.82. The company has a market capitalization of $455.32 million, a PE ratio of 14.69 and a beta of 0.97.

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

Investors Title Cuts Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Monday, March 24th. Investors Title’s payout ratio is currently 11.20%.

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.