BidaskClub Lowers Investors Title (ITIC) to Hold

BidaskClub lowered shares of Investors Title (NASDAQ:ITIC) from a buy rating to a hold rating in a research note released on Friday.

Shares of NASDAQ ITIC traded down $0.84 during mid-day trading on Friday, reaching $173.90. The company had a trading volume of 1,928 shares, compared to its average volume of 3,666. Investors Title has a twelve month low of $156.00 and a twelve month high of $209.95. The company has a market capitalization of $331.44 million, a PE ratio of 12.80 and a beta of 0.47.

Investors Title (NASDAQ:ITIC) last posted its quarterly earnings results on Friday, November 2nd. The insurance provider reported $5.61 earnings per share for the quarter. Investors Title had a net margin of 19.07% and a return on equity of 14.11%. The business had revenue of $48.26 million for the quarter.

The business also recently declared a quarterly dividend, which was paid on Monday, December 17th. Stockholders of record on Monday, December 3rd were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Friday, November 30th.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in Investors Title by 2.4% during the second quarter. BlackRock Inc. now owns 106,521 shares of the insurance provider’s stock worth $19,669,000 after buying an additional 2,538 shares during the last quarter. Vanguard Group Inc increased its position in Investors Title by 2.5% during the third quarter. Vanguard Group Inc now owns 57,170 shares of the insurance provider’s stock worth $9,599,000 after buying an additional 1,387 shares during the last quarter. Vanguard Group Inc. increased its position in Investors Title by 2.5% during the third quarter. Vanguard Group Inc. now owns 57,170 shares of the insurance provider’s stock worth $9,599,000 after buying an additional 1,387 shares during the last quarter. FMR LLC increased its position in Investors Title by 29.6% during the second quarter. FMR LLC now owns 30,492 shares of the insurance provider’s stock worth $5,631,000 after buying an additional 6,971 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Investors Title by 6.3% during the third quarter. Renaissance Technologies LLC now owns 20,200 shares of the insurance provider’s stock worth $3,392,000 after buying an additional 1,200 shares during the last quarter. 42.50% of the stock is currently owned by institutional investors and hedge funds.

About Investors Title

Investors Title Company, through its subsidiaries, provides 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.

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