Investors Title (NASDAQ:ITIC) Cut to “Hold” at StockNews.com

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

Investors Title Stock Performance

NASDAQ ITIC opened at $271.60 on Thursday. Investors Title has a 52 week low of $141.41 and a 52 week high of $283.27. The stock has a market capitalization of $510.61 million, a price-to-earnings ratio of 17.97 and a beta of 0.85. The stock’s 50 day moving average price is $235.29 and its two-hundred day moving average price is $204.10.

Investors Title Increases Dividend

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

Institutional Investors Weigh In On Investors Title

A number of large investors have recently added to or reduced their stakes in ITIC. Meeder Asset Management Inc. raised its stake in Investors Title by 455.8% in the 3rd 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 during the period. BNP Paribas Financial Markets raised its stake 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 during the period. FMR LLC raised its stake in 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 acquiring an additional 203 shares during the period. SG Americas Securities LLC bought a new stake in Investors Title in the 3rd quarter valued at $117,000. Finally, Centiva Capital LP bought a new stake in Investors Title in the 3rd quarter valued at $226,000. Institutional investors own 41.40% of the company’s stock.

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.