Investors Title (NASDAQ:ITIC) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE boosted its position in Investors Title (NASDAQ:ITIC) by 6.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,951 shares of the insurance provider’s stock after purchasing an additional 497 shares during the period. Bank of America Corp DE owned approximately 0.42% of Investors Title worth $1,882,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. acquired a new stake in Investors Title in the fourth quarter worth approximately $47,000. SG Americas Securities LLC lifted its position in 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. Raymond James Financial Inc. acquired a new stake in Investors Title in the fourth quarter worth approximately $222,000. Invesco Ltd. acquired a new stake in Investors Title in the fourth quarter worth approximately $237,000. Finally, Wells Fargo & Company MN lifted its position in Investors Title by 20.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,127 shares of the insurance provider’s stock worth $267,000 after purchasing an additional 189 shares during the period. 41.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Investors Title Stock Performance

Shares of NASDAQ:ITIC opened at $200.03 on Wednesday. Investors Title has a one year low of $167.80 and a one year high of $290.40. The stock has a fifty day moving average of $232.74 and a 200-day moving average of $238.96. The company has a market capitalization of $377.26 million, a PE ratio of 12.17 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.92%. Investors Title’s dividend payout ratio (DPR) is presently 11.72%.

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.