Investors Title (ITIC) Rating Increased to Hold at BidaskClub

BidaskClub upgraded shares of Investors Title (NASDAQ:ITIC) from a sell rating to a hold rating in a research report report published on Wednesday.

Shares of ITIC stock opened at $200.20 on Wednesday. Investors Title has a 1 year low of $133.65 and a 1 year high of $221.88. The firm has a market capitalization of $374.19, a PE ratio of 14.76 and a beta of 0.68.

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Investors Title (NASDAQ:ITIC) last released its earnings results on Wednesday, February 7th. The insurance provider reported $2.26 earnings per share for the quarter. Investors Title had a return on equity of 12.06% and a net margin of 15.90%. The business had revenue of $40.58 million for the quarter.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Tuesday, March 20th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Monday, March 19th. Investors Title’s dividend payout ratio (DPR) is presently 11.80%.

A number of hedge funds have recently added to or reduced their stakes in ITIC. Vanguard Group Inc. grew its position in Investors Title by 5.3% during the second quarter. Vanguard Group Inc. now owns 43,967 shares of the insurance provider’s stock worth $8,505,000 after buying an additional 2,225 shares in the last quarter. State Street Corp boosted its holdings in Investors Title by 11.4% during the second quarter. State Street Corp now owns 21,660 shares of the insurance provider’s stock valued at $4,189,000 after purchasing an additional 2,223 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Investors Title by 2.9% during the second quarter. The Manufacturers Life Insurance Company now owns 1,284 shares of the insurance provider’s stock valued at $249,000 after purchasing an additional 36 shares in the last quarter. Catalyst Capital Advisors LLC boosted its holdings in Investors Title by 25.6% during the third quarter. Catalyst Capital Advisors LLC now owns 3,643 shares of the insurance provider’s stock valued at $652,000 after purchasing an additional 743 shares in the last quarter. Finally, JPMorgan Chase & Co. acquired a new stake in Investors Title during the third quarter valued at approximately $101,000. 41.81% of the stock is currently owned by institutional investors and hedge funds.

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Investors Title Company Profile

Investors Title Company is an insurance holding company. The Company, through its subsidiaries, Investors Title Insurance Company (ITIC) and National Investors Title Insurance Company (NITIC), is engaged in issuance of residential and commercial title insurance, Investors Title Insurance Company (ITIC) and National Investors Title Insurance Company (NITIC).

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