Investors Title (NASDAQ:ITIC) Sees Large Volume Increase – Here’s What Happened

Shares of Investors Title Company (NASDAQ:ITIC) saw strong trading volume on Friday . Approximately 35,074 shares changed hands during trading, an increase of 54% from the previous session’s volume of 22,785 shares.The stock last traded at $269.60 and had previously closed at $265.09.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of Investors Title from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Investors Title Stock Up 1.0%

The stock has a fifty day simple moving average of $243.49 and a 200 day simple moving average of $242.40. The firm has a market capitalization of $506.27 million, a P/E ratio of 13.43 and a beta of 0.65.

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 return on equity of 14.03% and a net margin of 13.59%.The company had revenue of $63.49 million for the quarter.

Investors Title Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders 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 of this dividend is Monday, June 15th. Investors Title’s dividend payout ratio (DPR) is presently 9.15%.

Insiders Place Their Bets

In other news, Director Jr. Elton C. Parker bought 538 shares of Investors Title stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $231.00 per share, with a total value of $124,278.00. Following the completion of the purchase, the director owned 3,750 shares in the company, valued at $866,250. The trade was a 16.75% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 25.96% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aristides Capital LLC boosted its holdings in shares of Investors Title by 13.6% in the 1st quarter. Aristides Capital LLC now owns 18,953 shares of the insurance provider’s stock valued at $4,119,000 after buying an additional 2,273 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Investors Title during the 4th quarter valued at about $36,000. Invesco Ltd. raised its stake in shares of Investors Title by 30.7% in the fourth quarter. Invesco Ltd. now owns 4,027 shares of the insurance provider’s stock worth $1,005,000 after purchasing an additional 945 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Investors Title in the fourth quarter worth about $226,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Investors Title by 8.3% during the fourth quarter. AQR Capital Management LLC now owns 1,838 shares of the insurance provider’s stock worth $459,000 after purchasing an additional 141 shares during the period. 41.40% of the stock is currently owned by institutional investors.

About Investors Title

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.