Investors Title (NASDAQ:ITIC) Posts Quarterly Earnings Results

Investors Title (NASDAQ:ITIC) released its quarterly earnings data on Thursday. The insurance provider reported $3.20 earnings per share (EPS) for the quarter, Zacks reports. Investors Title had a net margin of 13.59% and a return on equity of 14.06%.

Investors Title Trading Down 1.3%

NASDAQ ITIC traded down $3.20 during trading hours on Friday, reaching $238.30. 22,999 shares of the company traded hands, compared to its average volume of 20,506. The company has a 50 day moving average of $228.38 and a two-hundred day moving average of $248.33. Investors Title has a 12 month low of $190.20 and a 12 month high of $288.98. The stock has a market capitalization of $519.49 million, a PE ratio of 11.86 and a beta of 0.67.

Investors Title Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, March 23rd. Investors Title’s dividend payout ratio is 9.91%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co increased its holdings in shares of Investors Title by 34.0% in 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 period. Russell Investments Group Ltd. increased its holdings in shares of Investors Title by 357.4% in 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 period. Price T Rowe Associates Inc. MD increased its holdings in shares of Investors Title by 6.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock worth $201,000 after acquiring an additional 49 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Investors Title in the 4th quarter worth about $224,000. Finally, Franklin Resources Inc. acquired a new stake in shares of Investors Title in the 3rd quarter worth about $242,000. 41.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Investors Title in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Investors Title presently has an average rating of “Buy”.

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.