Investors Title (NASDAQ:ITIC) Lowered to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of Investors Title (NASDAQ:ITIC) from a buy rating to a hold rating in a report published on Thursday.

Investors Title Trading Down 1.2 %

Shares of ITIC opened at $271.60 on Thursday. The firm has a market capitalization of $510.61 million, a price-to-earnings ratio of 17.97 and a beta of 0.85. The firm’s fifty day simple moving average is $235.29 and its 200-day simple moving average is $204.40. Investors Title has a twelve month low of $141.41 and a twelve month high of $283.27.

Investors Title Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $14.46 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $57.84 dividend on an annualized basis and a yield of 21.30%. This is a boost from Investors Title’s previous quarterly dividend of $0.46. Investors Title’s dividend payout ratio (DPR) is presently 12.18%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Meeder Asset Management Inc. boosted its stake in Investors Title by 455.8% in the third quarter. Meeder Asset Management Inc. now owns 239 shares of the insurance provider’s stock valued at $55,000 after acquiring an additional 196 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Investors Title by 36.1% in the 1st quarter. BNP Paribas Financial Markets now owns 637 shares of the insurance provider’s stock valued at $104,000 after purchasing an additional 169 shares during the last quarter. FMR LLC boosted its position in shares of Investors Title by 73.6% in the 3rd quarter. FMR LLC now owns 479 shares of the insurance provider’s stock valued at $110,000 after purchasing an additional 203 shares during the period. SG Americas Securities LLC purchased a new position in Investors Title during the 3rd quarter worth approximately $117,000. Finally, Centiva Capital LP purchased a new stake in Investors Title in the third quarter valued at approximately $226,000. Institutional investors and hedge funds own 41.40% of the company’s stock.

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.