Investors Title (NASDAQ:ITIC) Sees Unusually-High Trading Volume – Here’s What Happened

Investors Title Company (NASDAQ:ITIC) shares saw strong trading volume on Tuesday . 60,726 shares traded hands during mid-day trading, an increase of 74% from the previous session’s volume of 34,930 shares.The stock last traded at $295.4150 and had previously closed at $297.97.

Wall Street Analyst Weigh In

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

Investors Title Stock Performance

The firm has a market capitalization of $563.82 million, a PE ratio of 13.97 and a beta of 0.61. The firm’s 50-day moving average is $288.34 and its 200 day moving average is $254.82.

Investors Title (NASDAQ:ITIC) last announced its earnings results on Thursday, August 6th. The insurance provider reported $7.73 earnings per share (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 during the quarter.

Investors Title Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors 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 dividend yield of 0.6%. The ex-dividend date is Tuesday, September 1st. Investors Title’s payout ratio is currently 8.62%.

Institutional Investors Weigh In On Investors Title

A number of institutional investors and hedge funds have recently bought and sold shares of ITIC. CANADA LIFE ASSURANCE Co increased its position in Investors Title by 34.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock worth $48,000 after buying an additional 49 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 acquiring an additional 49 shares in the last quarter. Invesco Ltd. lifted its position in shares of Investors Title by 4.0% in the second quarter. Invesco Ltd. now owns 1,622 shares of the insurance provider’s stock valued at $343,000 after acquiring an additional 63 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Investors Title by 2.3% during the first quarter. Royal Bank of Canada now owns 3,937 shares of the insurance provider’s stock valued at $949,000 after acquiring an additional 88 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Investors Title by 1.9% during the third quarter. First Trust Advisors LP now owns 4,839 shares of the insurance provider’s stock valued at $1,296,000 after acquiring an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 41.40% of the company’s stock.

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.