Investors Title (NASDAQ:ITIC) Sets New 12-Month High – What’s Next?

Investors Title (NASDAQ:ITIC)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $284.38 and last traded at $283.51, with a volume of 7366 shares changing hands. The stock had previously closed at $277.64.

Analyst Ratings Changes

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

Investors Title Stock Performance

The firm’s fifty day simple moving average is $238.47 and its 200 day simple moving average is $206.51. The stock has a market capitalization of $529.41 million, a price-to-earnings ratio of 18.63 and a beta of 0.85.

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 paid 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 annualized dividend and a dividend yield of 20.54%. Investors Title’s dividend payout ratio (DPR) is currently 12.18%.

Hedge Funds Weigh In On Investors Title

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

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.