Investors Title (NASDAQ:ITIC) Shares Pass Above 200 Day Moving Average – Should You Sell?

Shares of Investors Title Company (NASDAQ:ITIC) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $242.63 and traded as high as $255.99. Investors Title shares last traded at $254.02, with a volume of 81,913 shares.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Investors Title from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Investors Title currently has an average rating of “Buy”.

Investors Title Price Performance

The company has a market cap of $488.34 million, a P/E ratio of 12.85 and a beta of 0.65. The stock’s 50-day moving average is $240.54 and its two-hundred day moving average is $242.31.

Investors Title (NASDAQ:ITIC) last issued its earnings results on Thursday, May 7th. The insurance provider reported $3.20 earnings per share (EPS) for the quarter. Investors Title had a net margin of 13.59% and a return on equity of 14.03%. The company had revenue of $63.49 million for the quarter.

Investors Title Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, June 15th. Investors Title’s dividend payout ratio (DPR) is 9.15%.

Insider Activity

In other news, Director Jr. Elton C. Parker acquired 538 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average price of $231.00 per share, with a total value of $124,278.00. Following the completion of the acquisition, the director directly owned 3,750 shares of the company’s stock, valued at approximately $866,250. The trade was a 16.75% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 25.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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