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

Shares of Investors Title Company (NASDAQ:ITIC) saw strong trading volume on Wednesday . Approximately 32,511 shares were traded during mid-day trading, a decline of 1% from the previous session’s volume of 32,793 shares.The stock last traded at $305.5610 and had previously closed at $303.48.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ITIC. 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 shares of Investors Title from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Investors Title has an average rating of “Buy”.

Investors Title Price Performance

The business’s 50 day moving average is $283.34 and its two-hundred day moving average is $252.38. The firm has a market capitalization of $573.95 million, a PE ratio of 14.24 and a beta of 0.63.

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

Investors Title Announces Dividend

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

Institutional Investors Weigh In On Investors Title

Several hedge funds have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in shares of Investors Title during the 2nd quarter valued at about $777,000. Aristides Capital LLC raised its holdings in shares of Investors Title by 13.6% during the 1st quarter. Aristides Capital LLC now owns 18,953 shares of the insurance provider’s stock valued at $4,119,000 after buying an additional 2,273 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in Investors Title in the 2nd quarter worth approximately $292,000. Caitong International Asset Management Co. Ltd bought a new stake in Investors Title in the 4th quarter worth approximately $36,000. Finally, Truist Financial Corp boosted its stake in Investors Title by 11.7% in the fourth quarter. Truist Financial Corp now owns 4,780 shares of the insurance provider’s stock worth $1,193,000 after buying an additional 500 shares in the last quarter. Institutional investors 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.