Investors Title (NASDAQ:ITIC) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Investors Title (NASDAQ:ITIC) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Investors Title Stock Performance

NASDAQ ITIC opened at $237.43 on Friday. The stock has a fifty day moving average of $230.64 and a 200-day moving average of $239.42. The stock has a market capitalization of $447.79 million, a P/E ratio of 14.45 and a beta of 0.97. Investors Title has a 52 week low of $146.41 and a 52 week high of $290.40.

Investors Title (NASDAQ:ITIC) last released its earnings results on Thursday, February 13th. The insurance provider reported $4.41 EPS for the quarter. Investors Title had a return on equity of 11.84% and a net margin of 12.03%. The company had revenue of $70.63 million during the quarter.

Investors Title Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 24th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, March 24th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.77%. Investors Title’s dividend payout ratio (DPR) is presently 11.20%.

Institutional Investors Weigh In On Investors Title

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its stake in shares of Investors Title by 187.5% during the third quarter. JPMorgan Chase & Co. now owns 3,260 shares of the insurance provider’s stock worth $749,000 after purchasing an additional 2,126 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Investors Title by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,169 shares of the insurance provider’s stock worth $958,000 after purchasing an additional 142 shares during the period. Barclays PLC lifted its holdings in Investors Title by 127.2% during the third quarter. Barclays PLC now owns 2,406 shares of the insurance provider’s stock worth $553,000 after acquiring an additional 1,347 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in Investors Title by 65.6% during the third quarter. BNP Paribas Financial Markets now owns 540 shares of the insurance provider’s stock worth $124,000 after acquiring an additional 214 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in Investors Title by 33.2% during the third quarter. Jane Street Group LLC now owns 2,096 shares of the insurance provider’s stock worth $482,000 after acquiring an additional 523 shares in the last quarter. 41.40% of the stock is owned by institutional investors and hedge funds.

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.