Investors Title (NASDAQ:ITIC) Sees Large Volume Increase – Time to Buy?

Shares of Investors Title Company (NASDAQ:ITIC) saw strong trading volume on Wednesday. Approximately 101,362 shares traded hands during trading, an increase of 168% from the previous session’s volume of 37,759 shares. The stock last traded at $289.0130 and had previously closed at $286.64.

Analysts Set New Price Targets

ITIC has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Investors Title from a “buy” rating to a “hold” rating in a report on Wednesday, August 5th. Weiss Ratings upgraded Investors Title from a “buy (b)” rating to a “buy (b+)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating. According to data from MarketBeat, Investors Title presently has an average rating of “Buy”.

Investors Title Stock Performance

The firm has a market capitalization of $546.33 million, a price-to-earnings ratio of 13.53 and a beta of 0.60. The business has a 50 day simple moving average of $292.86 and a 200-day simple moving average of $269.10.

Investors Title (NASDAQ:ITIC) last posted its quarterly earnings results on Thursday, August 6th. The insurance provider reported $7.73 earnings per share for the quarter. Investors Title had a net margin of 13.80% and a return on equity of 14.62%. The business had revenue of $81.71 million during the quarter.

Investors Title Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.46 per share. The ex-dividend date was Tuesday, September 1st. This represents a $1.84 dividend on an annualized basis and a yield of 0.6%. Investors Title’s dividend payout ratio is 8.62%.

Institutional Trading of Investors Title

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Investors Title during the 2nd quarter worth about $32,062,000. Aristides Capital LLC grew its position in Investors Title by 13.6% during the 1st quarter. Aristides Capital LLC now owns 18,953 shares of the insurance provider’s stock worth $4,119,000 after purchasing an additional 2,273 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Investors Title during the 2nd quarter worth $3,588,000. Bank of America Corp DE acquired a new position in Investors Title in the second quarter valued at $1,554,000. Finally, GSA Capital Partners LLP acquired a new position in Investors Title in the second quarter valued at $777,000. Institutional investors and hedge funds own 41.40% of the company’s stock.

Investors Title Company Profile

Investors Title Company (NASDAQ: ITIC) is an insurance holding company that provides title insurance and related real estate services. Through its title insurance subsidiaries, the company protects property owners and mortgage lenders against certain losses arising from defects, liens, or other issues affecting title to real estate.

The company’s offerings include owners’ and lenders’ title insurance, title searches and examinations, escrow and closing services, and other title-related services.