Investors Title (NASDAQ:ITIC) Upgraded at StockNews.com

StockNews.com upgraded shares of Investors Title (NASDAQ:ITIC) from a hold rating to a buy rating in a report released on Saturday morning.

Investors Title Stock Up 2.2 %

Shares of NASDAQ ITIC opened at $242.73 on Friday. Investors Title has a 52 week low of $146.41 and a 52 week high of $290.40. The business’s 50 day moving average price is $231.14 and its 200 day moving average price is $239.66. The firm has a market cap of $457.79 million, a P/E ratio of 14.77 and a beta of 0.97.

Investors Title (NASDAQ:ITIC) last released its quarterly earnings data on Thursday, February 13th. The insurance provider reported $4.41 EPS for the quarter. Investors Title had a net margin of 12.03% and a return on equity of 11.84%. The business had revenue of $70.63 million for the quarter.

Investors Title Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 24th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Monday, March 24th. Investors Title’s dividend payout ratio is currently 11.20%.

Hedge Funds Weigh In On Investors Title

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in Investors Title by 187.5% during the third quarter. JPMorgan Chase & Co. now owns 3,260 shares of the insurance provider’s stock worth $749,000 after buying an additional 2,126 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Investors Title by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,169 shares of the insurance provider’s stock worth $958,000 after acquiring an additional 142 shares in the last quarter. Barclays PLC grew its position in shares of Investors Title by 127.2% during the 3rd quarter. Barclays PLC now owns 2,406 shares of the insurance provider’s stock valued at $553,000 after acquiring an additional 1,347 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Investors Title by 65.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 540 shares of the insurance provider’s stock valued at $124,000 after purchasing an additional 214 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in Investors Title by 33.2% in the 3rd quarter. Jane Street Group LLC now owns 2,096 shares of the insurance provider’s stock worth $482,000 after purchasing an additional 523 shares during the period. 41.40% of the stock is owned by hedge funds and other institutional investors.

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.