Investors Title Company (ITIC) to Issue Quarterly Dividend of $0.46 on June 30th

Investors Title Company (NASDAQ:ITIC) announced a quarterly dividend on Wednesday, May 20th. Shareholders of record on Monday, June 15th will be given a dividend of 0.46 per share by the insurance provider on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, June 15th.

Investors Title has decreased its dividend by an average of 0.1%annually over the last three years.

Investors Title Trading Up 0.1%

Investors Title stock opened at $244.01 on Friday. The firm has a market cap of $461.18 million, a price-to-earnings ratio of 12.14 and a beta of 0.67. The stock has a fifty day simple moving average of $230.36 and a two-hundred day simple moving average of $246.63. Investors Title has a 12 month low of $190.20 and a 12 month high of $288.98.

Investors Title (NASDAQ:ITIC) last posted its earnings results on Thursday, May 7th. The insurance provider reported $3.20 EPS for the quarter. The business had revenue of $63.49 million during the quarter. Investors Title had a return on equity of 14.03% and a net margin of 13.59%.

Insider Activity

In other news, Director Jr. Elton C. Parker purchased 538 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of $231.00 per share, for a total transaction of $124,278.00. Following the purchase, the director directly owned 3,750 shares in the company, valued at approximately $866,250. This represents a 16.75% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 25.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Investors Title

A number of institutional investors and hedge funds have recently modified their holdings of ITIC. Caitong International Asset Management Co. Ltd purchased a new position in shares of Investors Title in the 4th quarter worth $36,000. CANADA LIFE ASSURANCE Co lifted its position in Investors Title by 34.0% during 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 in the last quarter. Russell Investments Group Ltd. lifted its position in Investors Title by 357.4% during the third 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Investors Title by 6.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock valued at $201,000 after purchasing an additional 49 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Investors Title during the fourth quarter valued at $224,000. 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.