Investors Title (NASDAQ:ITIC) Releases Earnings Results

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

Investors Title Stock Performance

NASDAQ ITIC traded down $3.20 during mid-day trading on Friday, reaching $238.30. 22,999 shares of the stock were exchanged, compared to its average volume of 20,506. Investors Title has a 1-year low of $190.20 and a 1-year high of $288.98. The business’s fifty day simple moving average is $228.38 and its 200 day simple moving average is $248.33. The stock has a market capitalization of $519.49 million, a PE ratio of 11.86 and a beta of 0.67.

Investors Title Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued 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.com, the stock has an average rating of “Buy”.

Institutional Trading of Investors Title

A number of hedge funds have recently bought and sold shares of ITIC. Millennium Management LLC boosted its position in Investors Title by 486.5% during the third quarter. Millennium Management LLC now owns 16,815 shares of the insurance provider’s stock worth $4,504,000 after acquiring an additional 13,948 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Investors Title by 110.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 20,140 shares of the insurance provider’s stock worth $5,028,000 after acquiring an additional 10,589 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Investors Title by 12,260.0% during the second quarter. BNP Paribas Financial Markets now owns 10,506 shares of the insurance provider’s stock worth $2,220,000 after acquiring an additional 10,421 shares during the last quarter. Two Sigma Investments LP boosted its position in Investors Title by 18.7% during the third quarter. Two Sigma Investments LP now owns 42,303 shares of the insurance provider’s stock worth $11,330,000 after acquiring an additional 6,673 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Investors Title during the third quarter worth approximately $1,463,000. Institutional investors and hedge funds 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.