Geode Capital Management LLC Sells 116 Shares of Investors Title (NASDAQ:ITIC)

Geode Capital Management LLC lessened its stake in shares of Investors Title (NASDAQ:ITIC) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,159 shares of the insurance provider’s stock after selling 116 shares during the period. Geode Capital Management LLC owned 1.76% of Investors Title worth $7,853,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITIC. SG Americas Securities LLC increased its position in shares of Investors Title by 21.0% in the fourth quarter. SG Americas Securities LLC now owns 616 shares of the insurance provider’s stock worth $146,000 after purchasing an additional 107 shares during the period. Mountain Hill Investment Partners Corp. bought a new position in Investors Title in the 4th quarter valued at about $47,000. Nisa Investment Advisors LLC boosted its stake in shares of Investors Title by 225.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 650 shares of the insurance provider’s stock valued at $154,000 after purchasing an additional 450 shares in the last quarter. Jane Street Group LLC increased its position in Investors Title by 33.2% during the 3rd quarter. Jane Street Group LLC now owns 2,096 shares of the insurance provider’s stock worth $482,000 after purchasing an additional 523 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Investors Title during the 4th quarter worth approximately $222,000. 41.40% of the stock is owned by institutional investors and hedge funds.

Investors Title Trading Down 0.2 %

Investors Title stock opened at $230.82 on Friday. The stock has a 50-day moving average price of $233.30 and a two-hundred day moving average price of $240.13. Investors Title has a 12 month low of $146.41 and a 12 month high of $290.40. The company has a market capitalization of $502.73 million, a PE ratio of 14.05 and a beta of 0.84.

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

Investors Title Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 24th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, March 24th. This represents a $1.84 dividend on an annualized basis and a yield of 0.80%. Investors Title’s dividend payout ratio (DPR) is currently 11.20%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Investors Title from a “hold” rating to a “buy” rating in a report on Saturday, March 22nd.

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.