Northern Trust Corp Has $3.45 Million Holdings in Investors Title (NASDAQ:ITIC)

Northern Trust Corp lifted its stake in Investors Title (NASDAQ:ITIC) by 6.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,562 shares of the insurance provider’s stock after buying an additional 892 shares during the period. Northern Trust Corp owned about 0.77% of Investors Title worth $3,448,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ITIC. Mountain Hill Investment Partners Corp. acquired a new stake in Investors Title during the 4th quarter valued at $47,000. SG Americas Securities LLC increased its holdings in Investors Title by 21.0% during the 4th quarter. SG Americas Securities LLC now owns 616 shares of the insurance provider’s stock valued at $146,000 after purchasing an additional 107 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Investors Title by 225.0% during 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. Raymond James Financial Inc. acquired a new stake in Investors Title during the 4th quarter valued at $222,000. Finally, Invesco Ltd. acquired a new stake in Investors Title during the 4th quarter valued at $237,000. 41.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut Investors Title from a “buy” rating to a “hold” rating in a report on Monday, May 12th.

Investors Title Price Performance

ITIC stock opened at $229.73 on Friday. The business has a fifty day moving average price of $234.90 and a 200 day moving average price of $240.90. Investors Title has a fifty-two week low of $146.41 and a fifty-two week high of $290.40. The stock has a market capitalization of $433.27 million, a price-to-earnings ratio of 13.98 and a beta of 0.91.

Investors Title (NASDAQ:ITIC) last announced its quarterly earnings data on Thursday, May 8th. The insurance provider reported $1.67 EPS for the quarter. Investors Title had a return on equity of 11.84% and a net margin of 12.03%.

Investors Title Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.46 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.84 dividend on an annualized basis and a yield of 0.80%. Investors Title’s payout ratio is 11.72%.

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.