GSA Capital Partners LLP Makes New $777,000 Investment in Investors Title Company $ITIC

GSA Capital Partners LLP purchased a new stake in Investors Title Company (NASDAQ:ITIC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,840 shares of the insurance provider’s stock, valued at approximately $777,000.

A number of other hedge funds have also recently made changes to their positions in ITIC. Caitong International Asset Management Co. Ltd bought a new position in shares of Investors Title in the fourth quarter worth $36,000. CANADA LIFE ASSURANCE Co boosted its stake in Investors Title by 34.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock valued at $48,000 after buying an additional 49 shares during the period. Russell Investments Group Ltd. boosted its stake in Investors Title by 357.4% during the third quarter. Russell Investments Group Ltd. now owns 311 shares of the insurance provider’s stock valued at $83,000 after buying an additional 243 shares during the period. Price T Rowe Associates Inc. MD grew its position in Investors Title by 6.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock worth $201,000 after buying an additional 49 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Investors Title during the fourth quarter worth about $224,000. 41.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Wall Street Zen cut Investors Title from a “buy” rating to a “hold” rating in a report on Wednesday, August 5th. Weiss Ratings raised Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy”.

Investors Title Stock Performance

Shares of ITIC opened at $292.39 on Thursday. The firm has a market cap of $552.62 million, a price-to-earnings ratio of 13.70 and a beta of 0.63. Investors Title Company has a fifty-two week low of $209.75 and a fifty-two week high of $297.99. The firm has a 50 day moving average price of $278.06 and a 200-day moving average price of $251.22.

Investors Title (NASDAQ:ITIC) last released its earnings results on Thursday, August 6th. The insurance provider reported $7.73 EPS for the quarter. Investors Title had a net margin of 13.80% and a return on equity of 14.62%. The company had revenue of $81.71 million for the quarter.

Investors Title Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Investors Title’s dividend payout ratio is presently 8.62%.

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.