Investors Title (NASDAQ:ITIC) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Investors Title (NASDAQ:ITIC) from a buy rating to a hold rating in a report issued on Wednesday.

Separately, Weiss Ratings raised Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Investors Title presently has a consensus rating of “Buy”.

Investors Title Trading Down 1.9%

Shares of NASDAQ:ITIC opened at $289.84 on Wednesday. Investors Title has a 1 year low of $209.75 and a 1 year high of $297.31. The business has a fifty day simple moving average of $270.72 and a 200 day simple moving average of $249.41. The firm has a market cap of $547.80 million, a price-to-earnings ratio of 13.58 and a beta of 0.63.

Investors Title (NASDAQ:ITIC) last issued its earnings results on Thursday, August 6th. The insurance provider reported $7.73 EPS for the quarter. Investors Title had a return on equity of 14.81% and a net margin of 13.80%.The firm had revenue of $81.71 million for the quarter.

Investors Title Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. Investors Title’s dividend payout ratio (DPR) is presently 9.15%.

Insiders Place Their Bets

In related news, Director Jr. Elton C. Parker bought 538 shares of Investors Title stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average cost of $231.00 per share, for a total transaction of $124,278.00. Following the acquisition, the director owned 3,750 shares in the company, valued at $866,250. This trade represents a 16.75% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 25.96% of the company’s stock.

Institutional Trading of Investors Title

A number of institutional investors and hedge funds have recently modified their holdings of ITIC. Caitong International Asset Management Co. Ltd acquired a new position in Investors Title in the 4th quarter valued at $36,000. CANADA LIFE ASSURANCE Co lifted its position in Investors Title by 34.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock worth $48,000 after acquiring an additional 49 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Investors Title by 357.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 311 shares of the insurance provider’s stock worth $83,000 after acquiring an additional 243 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings 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 acquiring an additional 49 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Investors Title during the fourth quarter valued at about $224,000. 41.40% of the stock is currently owned by institutional investors and hedge funds.

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.