Jr. Elton Parker Purchases 538 Shares of Investors Title (NASDAQ:ITIC) Stock

Investors Title Company (NASDAQ:ITIC) Director Jr. Elton Parker acquired 538 shares of Investors Title stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average cost of $231.00 per share, for a total transaction of $124,278.00. Following the completion of the purchase, the director directly owned 3,750 shares of the company’s stock, valued at $866,250. This represents a 16.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Investors Title Price Performance

NASDAQ:ITIC traded down $4.80 during trading hours on Wednesday, hitting $232.00. The company’s stock had a trading volume of 22,743 shares, compared to its average volume of 17,906. The stock has a fifty day simple moving average of $228.73 and a 200-day simple moving average of $247.73. The company has a market capitalization of $505.76 million, a P/E ratio of 11.54 and a beta of 0.67. Investors Title Company has a twelve month low of $190.20 and a twelve month high of $288.98.

Investors Title (NASDAQ:ITIC) last released its quarterly earnings data on Thursday, May 7th. The insurance provider reported $3.20 earnings per share for the quarter. The business had revenue of $63.49 million for the quarter. Investors Title had a return on equity of 14.06% and a net margin of 13.59%.

Investors Title Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were paid a $0.46 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $1.84 annualized dividend and a yield of 0.8%. Investors Title’s dividend payout ratio (DPR) is 9.15%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Investors Title in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Investors Title currently has a consensus rating of “Buy”.

Hedge Funds Weigh In On Investors Title

Several large investors have recently bought and sold shares of ITIC. Caitong International Asset Management Co. Ltd bought a new position in Investors Title in the fourth quarter valued at about $36,000. CANADA LIFE ASSURANCE Co raised its position in Investors Title by 34.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock valued at $48,000 after purchasing an additional 49 shares during the last quarter. Russell Investments Group Ltd. raised its position in Investors Title by 357.4% in the third quarter. Russell Investments Group Ltd. now owns 311 shares of the insurance provider’s stock valued at $83,000 after purchasing an additional 243 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Investors Title by 6.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock valued at $201,000 after purchasing an additional 49 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Investors Title in the fourth quarter valued at about $224,000. 41.40% of the stock is currently owned by institutional investors.

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.