DAVENPORT & Co LLC Takes Position in Investors Title (NASDAQ:ITIC)

DAVENPORT & Co LLC bought a new stake in Investors Title (NASDAQ:ITIC) during the fourth quarter, HoldingsChannel reports. The firm bought 1,300 shares of the insurance provider’s stock, valued at approximately $211,000.

A number of other institutional investors have also modified their holdings of ITIC. Legal & General Group Plc raised its stake in Investors Title by 112.1% during the second quarter. Legal & General Group Plc now owns 227 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 120 shares during the period. BNP Paribas Arbitrage SA increased its stake 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 purchasing an additional 122 shares during the period. Citigroup Inc. boosted 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 acquiring an additional 363 shares in the last quarter. Advisor Group Holdings Inc. boosted its holdings in shares of Investors Title by 28.6% in the first quarter. Advisor Group Holdings Inc. now owns 450 shares of the insurance provider’s stock valued at $91,000 after acquiring an additional 100 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Investors Title by 9,780.0% in the third quarter. Deutsche Bank AG now owns 494 shares of the insurance provider’s stock valued at $73,000 after acquiring an additional 489 shares in the last quarter. Institutional investors and hedge funds own 41.40% of the company’s stock.

Analyst Upgrades and Downgrades

ITIC has been the subject of several recent analyst reports. StockNews.com cut shares of Investors Title from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. TheStreet upgraded shares of Investors Title from a “c+” rating to a “b-” rating in a report on Wednesday, January 31st.

Investors Title Stock Performance

Shares of NASDAQ:ITIC opened at $159.40 on Friday. The stock has a market capitalization of $301.27 million, a price-to-earnings ratio of 13.91 and a beta of 0.89. Investors Title has a 1-year low of $127.71 and a 1-year high of $171.60. The company has a 50 day moving average price of $159.10 and a 200 day moving average price of $154.69.

Investors Title (NASDAQ:ITIC) last issued its earnings results on Tuesday, February 13th. The insurance provider reported $3.09 earnings per share for the quarter. The firm had revenue of $53.68 million during the quarter. Investors Title had a net margin of 9.65% and a return on equity of 8.73%.

Investors Title Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Monday, March 18th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Friday, March 15th. Investors Title’s payout ratio is 16.06%.

Investors Title 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.