Investors Title (NASDAQ:ITIC) Stock: Insider Jr. Elton Parker Acquires 500 Shares

Investors Title Company (NASDAQ:ITIC) Director Jr. Elton Parker acquired 500 shares of Investors Title stock in a transaction that occurred on Wednesday, November 11th. The shares were bought at an average price of $266.00 per share, with a total value of $133,000.00. Following the transaction, the director directly owned 4,250 shares in the company, valued at approximately $1,130,500. This trade represents a 13.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Investors Title Trading Up 1.1%

ITIC traded up $2.80 during trading on Friday, reaching $254.39. 34,341 shares of the company were exchanged, compared to its average volume of 54,507. The stock has a market cap of $480.80 million, a P/E ratio of 12.80 and a beta of 0.60. The firm has a 50 day moving average of $284.01 and a 200 day moving average of $261.93. Investors Title Company has a 52 week low of $209.75 and a 52 week high of $309.55.

Investors Title (NASDAQ:ITIC) last posted its earnings results on Thursday, November 5th. The insurance provider reported $4.97 earnings per share (EPS) for the quarter. The company had revenue of $83.55 million for the quarter. Investors Title had a return on equity of 13.43% and a net margin of 12.47%.

Investors Title Dividend Announcement

The company also recently declared a special dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a dividend of $19.27 per share. The ex-dividend date is Tuesday, December 1st. Investors Title’s dividend payout ratio is currently 9.26%.

Hedge Funds Weigh In On Investors Title

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Investors Title during the 2nd quarter valued at $32,062,000. Aristides Capital LLC boosted its position in Investors Title by 13.6% during the 1st quarter. Aristides Capital LLC now owns 18,953 shares of the insurance provider’s stock worth $4,119,000 after acquiring an additional 2,273 shares during the period. Bank of New York Mellon Corp acquired a new position in Investors Title during the 2nd quarter worth $3,588,000. First Trust Advisors LP grew its stake in shares of Investors Title by 30.7% in the third quarter. First Trust Advisors LP now owns 6,803 shares of the insurance provider’s stock worth $1,925,000 after purchasing an additional 1,599 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in shares of Investors Title in the second quarter worth $1,554,000. 41.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ITIC has been the topic of several recent research reports. Weiss Ratings downgraded shares of Investors Title from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, November 3rd. Wall Street Zen lowered shares of Investors Title from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Investors Title Company Profile

Investors Title Company (NASDAQ: ITIC) is a title insurance and real estate services company headquartered in Chapel Hill, North Carolina. Through its subsidiaries, it provides title insurance that helps protect property owners and mortgage lenders against certain losses arising from defects in a property’s title. The company also offers related services, including title examination and settlement support, as well as tax-deferred exchange services for real estate transactions. It distributes its products through a network of agents and its own operations in multiple U.S. states.