Investors Title (NASDAQ:ITIC) Issues Quarterly Earnings Results

Investors Title (NASDAQ:ITIC) posted its earnings results on Thursday. The insurance provider reported $4.97 EPS for the quarter, FiscalAI reports. Investors Title had a return on equity of 14.62% and a net margin of 13.80%. The firm had revenue of $83.55 million for the quarter.

Investors Title Stock Down 1.9%

Shares of Investors Title stock traded down $4.93 during mid-day trading on Friday, reaching $256.37. 45,195 shares of the stock traded hands, compared to its average volume of 51,082. The business has a 50-day moving average of $287.59 and a 200 day moving average of $261.80. Investors Title has a fifty-two week low of $209.75 and a fifty-two week high of $309.55. The stock has a market capitalization of $484.54 million, a PE ratio of 12.90 and a beta of 0.60.

Investors Title Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, September 1st. Investors Title’s payout ratio is 8.62%.

Institutional Trading of Investors Title

A number of institutional investors have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Investors Title in the second quarter valued at about $32,062,000. Aristides Capital LLC boosted its position in Investors Title by 13.6% during the first quarter. Aristides Capital LLC now owns 18,953 shares of the insurance provider’s stock worth $4,119,000 after acquiring an additional 2,273 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in Investors Title during the 2nd quarter valued at about $3,588,000. Bank of America Corp DE purchased a new stake in Investors Title during the 2nd quarter valued at about $1,554,000. Finally, GSA Capital Partners LLP acquired a new stake in Investors Title in the 2nd quarter valued at about $777,000. 41.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ITIC has been the subject of several recent research reports. Weiss Ratings lowered shares of Investors Title from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday. Wall Street Zen downgraded shares of Investors Title from a “buy” rating to a “hold” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating. According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

About Investors Title

Investors Title Company (NASDAQ: ITIC) is an insurance and real estate services company headquartered in Chapel Hill, North Carolina. Founded in 1972, the company provides title insurance and related services that help protect property owners and lenders against losses arising from defects, claims, or other issues affecting real estate ownership.

Through its title insurance subsidiaries, including Investors Title Insurance Company and National Investors Title Insurance Company, the company offers lender’s and owner’s title insurance policies.