PDT Partners LLC Makes New $267,000 Investment in Investors Title (NASDAQ:ITIC)

PDT Partners LLC bought a new position in shares of Investors Title (NASDAQ:ITIC) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 1,163 shares of the insurance provider’s stock, valued at approximately $267,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Investors Title by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 67,743 shares of the insurance provider’s stock valued at $11,055,000 after purchasing an additional 591 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Investors Title by 6.0% in the 2nd 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 period. Charles Schwab Investment Management Inc. lifted its stake in shares of Investors Title by 3.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,169 shares of the insurance provider’s stock valued at $958,000 after purchasing an additional 142 shares during the period. American Century Companies Inc. lifted its stake in shares of Investors Title by 27.0% in the 2nd quarter. American Century Companies Inc. now owns 3,774 shares of the insurance provider’s stock valued at $680,000 after purchasing an additional 803 shares during the period. Finally, Ritholtz Wealth Management lifted its stake in shares of 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 purchasing an additional 223 shares during the period. 41.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Investors Title Price Performance

Shares of Investors Title stock opened at $271.88 on Wednesday. Investors Title has a one year low of $141.41 and a one year high of $290.40. The firm has a market capitalization of $511.13 million, a price-to-earnings ratio of 17.99 and a beta of 0.89. The business has a 50-day simple moving average of $247.83 and a 200 day simple moving average of $214.45.

Investors Title Increases Dividend

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

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.