Investors Title (NASDAQ:ITIC) Sets New 52-Week High – Still a Buy?

Investors Title Company (NASDAQ:ITIC)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $299.15 and last traded at $297.63, with a volume of 56682 shares. The stock had previously closed at $289.26.

Analysts Set New Price Targets

ITIC has been the topic of a number of recent research reports. Weiss Ratings raised shares of Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. Wall Street Zen lowered Investors Title from a “buy” rating to a “hold” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Investors Title presently has an average rating of “Buy”.

Investors Title Trading Up 0.8%

The firm’s 50-day simple moving average is $282.43 and its two-hundred day simple moving average is $252.20. The stock has a market capitalization of $578.30 million, a PE ratio of 14.33 and a beta of 0.63.

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

Investors Title Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Investors Title’s dividend payout ratio (DPR) is 8.62%.

Hedge Funds Weigh In On Investors Title

Several institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Investors Title during the fourth quarter valued at $36,000. CANADA LIFE ASSURANCE Co grew its position in shares of Investors Title by 34.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 49 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Investors Title by 357.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 311 shares of the insurance provider’s stock valued at $83,000 after purchasing an additional 243 shares during the period. Legal & General Group Plc acquired a new position in Investors Title in the second quarter valued at about $100,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Investors Title by 6.5% in 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. 41.40% of the stock is owned by institutional investors.

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. 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.