Investors Title (NASDAQ:ITIC) Sees Large Volume Increase – What’s Next?

Investors Title Company (NASDAQ:ITIC) shares saw an uptick in trading volume on Monday . Approximately 49,653 shares changed hands during trading, an increase of 62% from the previous session’s volume of 30,572 shares.The stock last traded at $290.7550 and had previously closed at $287.71.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Wall Street Zen lowered Investors Title from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Investors Title Trading Up 1.0%

The firm has a 50-day simple moving average of $277.27 and a two-hundred day simple moving average of $250.98. The company has a market capitalization of $549.71 million, a price-to-earnings ratio of 13.64 and a beta of 0.63.

Investors Title (NASDAQ:ITIC) last issued its quarterly earnings data on Thursday, August 6th. The insurance provider reported $7.73 earnings per share (EPS) for the quarter. The business had revenue of $81.71 million during the quarter. Investors Title had a return on equity of 14.62% and a net margin of 13.80%.

Investors Title Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.84 dividend on an annualized basis and a yield of 0.6%. Investors Title’s payout ratio is presently 8.62%.

Institutional Investors Weigh In On Investors Title

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Investors Title in the 2nd quarter valued at $32,062,000. Millennium Management LLC raised its position in Investors Title by 486.5% during the third quarter. Millennium Management LLC now owns 16,815 shares of the insurance provider’s stock worth $4,504,000 after acquiring an additional 13,948 shares during the period. Bank of New York Mellon Corp acquired a new position in Investors Title during the second quarter worth $3,588,000. Goldman Sachs Group Inc. lifted its holdings in Investors Title by 110.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 20,140 shares of the insurance provider’s stock valued at $5,028,000 after purchasing an additional 10,589 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Investors Title by 12,260.0% during the second 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. Institutional investors and hedge funds own 41.40% of the company’s stock.

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.