Martingale Asset Management L P Increases Stake in Investors Title (NASDAQ:ITIC)

Martingale Asset Management L P raised its holdings in shares of Investors Title (NASDAQ:ITIC) by 10.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,431 shares of the insurance provider’s stock after buying an additional 140 shares during the quarter. Martingale Asset Management L P’s holdings in Investors Title were worth $329,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Ritholtz Wealth Management raised its holdings in Investors Title by 9.0% in the 3rd quarter. Ritholtz Wealth Management now owns 2,703 shares of the insurance provider’s stock valued at $621,000 after acquiring an additional 223 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Investors Title by 27.0% during the 2nd quarter. American Century Companies Inc. now owns 3,774 shares of the insurance provider’s stock worth $680,000 after purchasing an additional 803 shares during the last quarter. Rhumbline Advisers grew its position in shares of Investors Title by 9.1% in the second quarter. Rhumbline Advisers now owns 2,088 shares of the insurance provider’s stock valued at $376,000 after purchasing an additional 174 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Investors Title by 6.0% in the second quarter. Bank of New York Mellon Corp now owns 12,607 shares of the insurance provider’s stock valued at $2,271,000 after purchasing an additional 710 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Investors Title by 0.9% during the first quarter. Vanguard Group Inc. now owns 67,743 shares of the insurance provider’s stock worth $11,055,000 after buying an additional 591 shares in the last quarter. 41.40% of the stock is owned by hedge funds and other institutional investors.

Investors Title Price Performance

Shares of ITIC stock opened at $271.88 on Wednesday. The firm’s 50-day moving average is $247.83 and its two-hundred day moving average is $214.45. Investors Title has a 12 month low of $141.41 and a 12 month high of $290.40. The company has a market capitalization of $511.13 million, a PE ratio of 17.99 and a beta of 0.89.

Investors Title Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $14.46 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Investors Title’s previous quarterly dividend of $0.46. This represents a $57.84 dividend on an annualized basis and a yield of 21.27%. Investors Title’s dividend payout ratio is currently 12.18%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Investors Title from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

Investors Title 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.