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

Martingale Asset Management L P grew its stake in Investors Title (NASDAQ:ITIC) by 10.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,431 shares of the insurance provider’s stock after purchasing an additional 140 shares during the period. Martingale Asset Management L P owned about 0.08% of Investors Title worth $329,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ITIC. Meeder Asset Management Inc. boosted its holdings in Investors Title by 455.8% during the third quarter. Meeder Asset Management Inc. now owns 239 shares of the insurance provider’s stock worth $55,000 after buying an additional 196 shares in the last quarter. FMR LLC boosted its stake in shares of Investors Title by 73.6% during the 3rd quarter. FMR LLC now owns 479 shares of the insurance provider’s stock worth $110,000 after acquiring an additional 203 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Investors Title during the 3rd quarter valued at about $117,000. 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, Canal Capital Management LLC acquired a new position in Investors Title in the 3rd quarter worth about $230,000. Institutional investors and hedge funds own 41.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

Investors Title Stock Performance

NASDAQ:ITIC opened at $271.88 on Wednesday. The stock has a market capitalization of $511.13 million, a PE ratio of 17.99 and a beta of 0.89. Investors Title has a fifty-two week low of $141.41 and a fifty-two week high of $290.40. The company has a fifty day moving average of $247.83 and a two-hundred day moving average of $214.45.

Investors Title Increases Dividend

The business also recently declared 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 is Monday, December 2nd. This is a positive change 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 (DPR) is currently 12.18%.

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.