Investors Title (NASDAQ:ITIC) Sees Unusually-High Trading Volume – Here’s Why

Shares of Investors Title Company (NASDAQ:ITIC) saw unusually-high trading volume on Tuesday . 60,726 shares were traded during mid-day trading, an increase of 74% from the previous session’s volume of 34,930 shares.The stock last traded at $295.4150 and had previously closed at $297.97.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Investors Title from a “buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Weiss Ratings raised shares of Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Investors Title currently has a consensus rating of “Buy”.

Investors Title Stock Down 1.3%

The company has a market cap of $555.98 million, a P/E ratio of 13.78 and a beta of 0.61. The firm’s 50-day moving average price is $287.57 and its 200-day moving average price is $253.81.

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

Investors Title Announces Dividend

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

Hedge Funds Weigh In On Investors Title

Several hedge funds have recently made changes to their positions in ITIC. CANADA LIFE ASSURANCE Co raised its stake in shares of Investors Title by 34.0% during the 4th 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 period. Price T Rowe Associates Inc. MD boosted its stake in Investors Title by 6.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock worth $201,000 after purchasing an additional 49 shares during the period. Invesco Ltd. grew its holdings in Investors Title by 4.0% during the 2nd quarter. Invesco Ltd. now owns 1,622 shares of the insurance provider’s stock valued at $343,000 after buying an additional 63 shares in the last quarter. Royal Bank of Canada grew its holdings in Investors Title by 2.3% during the 1st quarter. Royal Bank of Canada now owns 3,937 shares of the insurance provider’s stock valued at $949,000 after buying an additional 88 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Investors Title by 1.9% during the third quarter. First Trust Advisors LP now owns 4,839 shares of the insurance provider’s stock valued at $1,296,000 after buying an additional 90 shares during the period. 41.40% of the stock is currently owned by hedge funds and other institutional investors.

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.