Investors Title (NASDAQ:ITIC) Short Interest Update

Investors Title (NASDAQ:ITIC) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 23,400 shares, a decline of 12.4% from the December 15th total of 26,700 shares. Based on an average daily volume of 11,900 shares, the days-to-cover ratio is presently 2.0 days. Currently, 1.7% of the company’s shares are short sold.

Investors Title Stock Performance

Shares of NASDAQ:ITIC traded up $0.06 during midday trading on Friday, reaching $228.05. The company’s stock had a trading volume of 17,538 shares, compared to its average volume of 8,748. Investors Title has a fifty-two week low of $146.41 and a fifty-two week high of $290.40. The firm has a market capitalization of $428.73 million, a price-to-earnings ratio of 15.09 and a beta of 0.92. The firm has a 50 day moving average price of $254.98 and a two-hundred day moving average price of $230.80.

Investors Title Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $14.46 dividend. This represents a $57.84 dividend on an annualized basis and a yield of 25.36%. This is a positive change from Investors Title’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, December 2nd. Investors Title’s payout ratio is presently 12.18%.

Institutional Trading of Investors Title

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ITIC. JPMorgan Chase & Co. increased its position in Investors Title by 187.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,260 shares of the insurance provider’s stock valued at $749,000 after buying an additional 2,126 shares in the last quarter. Trust Co of the South bought a new stake in Investors Title in the 4th quarter valued at about $322,000. Barclays PLC increased its position in Investors Title by 127.2% in the 3rd quarter. Barclays PLC now owns 2,406 shares of the insurance provider’s stock valued at $553,000 after buying an additional 1,347 shares in the last quarter. PDT Partners LLC bought a new stake in Investors Title in the 3rd quarter valued at about $267,000. Finally, Canal Capital Management LLC bought a new stake in Investors Title during the 3rd quarter worth approximately $230,000. 41.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Investors Title from a “hold” rating to a “buy” rating in a research note on Monday, January 13th.

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.