Investors Title (NASDAQ:ITIC) Stock Passes Above 200 Day Moving Average of $146.42

Investors Title (NASDAQ:ITIC)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $146.42 and traded as high as $148.50. Investors Title shares last traded at $148.24, with a volume of 1,153 shares.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ITIC shares. StockNews.com started coverage on shares of Investors Title in a research report on Thursday, August 17th. They set a “buy” rating on the stock. TheStreet raised shares of Investors Title from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th.

Investors Title Stock Up 0.1 %

The company has a market cap of $280.32 million, a PE ratio of 11.62 and a beta of 0.80. The business has a 50-day simple moving average of $150.74 and a 200-day simple moving average of $146.42.

Investors Title (NASDAQ:ITIC) last announced its earnings results on Monday, August 7th. The insurance provider reported $4.00 earnings per share (EPS) for the quarter. The company had revenue of $58.31 million for the quarter. Investors Title had a return on equity of 9.99% and a net margin of 9.56%.

Investors Title Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.24%. Investors Title’s dividend payout ratio (DPR) is 14.42%.

Hedge Funds Weigh In On Investors Title

Several institutional investors have recently modified their holdings of ITIC. Legal & General Group Plc boosted its stake in Investors Title by 112.1% in the second quarter. Legal & General Group Plc now owns 227 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 120 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Investors Title by 61.0% in the second quarter. BNP Paribas Arbitrage SA now owns 322 shares of the insurance provider’s stock valued at $51,000 after buying an additional 122 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Investors Title by 36,300.0% in the second quarter. Citigroup Inc. now owns 364 shares of the insurance provider’s stock valued at $53,000 after buying an additional 363 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Investors Title by 158.9% in the third quarter. Tower Research Capital LLC TRC now owns 554 shares of the insurance provider’s stock valued at $78,000 after buying an additional 340 shares during the last quarter. Finally, BNP Paribas Arbitrage SNC raised its holdings in shares of Investors Title by 77.0% in the third quarter. BNP Paribas Arbitrage SNC now owns 570 shares of the insurance provider’s stock valued at $80,000 after buying an additional 248 shares during the last quarter. Institutional investors and hedge funds own 38.12% of the company’s stock.

Investors Title Company Profile

Investors Title Company, through its subsidiaries, 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.