Investors Title (NASDAQ:ITIC) Announces Quarterly Earnings Results

Investors Title (NASDAQ:ITIC) released its earnings results on Thursday. The insurance provider reported $3.20 EPS for the quarter, Zacks reports. Investors Title had a return on equity of 14.06% and a net margin of 13.59%.

Investors Title Trading Down 1.3%

Shares of NASDAQ:ITIC traded down $3.20 during trading on Friday, hitting $238.30. 22,999 shares of the company were exchanged, compared to its average volume of 20,506. The stock has a market cap of $519.49 million, a price-to-earnings ratio of 11.86 and a beta of 0.67. Investors Title has a fifty-two week low of $190.20 and a fifty-two week high of $288.98. The firm has a fifty day moving average price of $228.38 and a two-hundred day moving average price of $248.33.

Investors Title Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $1.84 annualized dividend and a dividend yield of 0.8%. Investors Title’s payout ratio is 9.91%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Investors Title in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy”.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ITIC. Royal Bank of Canada increased its position in shares of Investors Title by 2.3% during the 1st quarter. Royal Bank of Canada now owns 3,937 shares of the insurance provider’s stock worth $949,000 after purchasing an additional 88 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Investors Title by 8.0% during the 1st quarter. AQR Capital Management LLC now owns 1,917 shares of the insurance provider’s stock worth $462,000 after purchasing an additional 142 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Investors Title during the 1st quarter worth approximately $571,000. Invesco Ltd. increased its position in shares of Investors Title by 4.0% during the 2nd quarter. Invesco Ltd. now owns 1,622 shares of the insurance provider’s stock worth $343,000 after purchasing an additional 63 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Investors Title by 4.2% during the 2nd quarter. First Trust Advisors LP now owns 4,749 shares of the insurance provider’s stock worth $1,003,000 after purchasing an additional 190 shares during the last quarter. Institutional investors and hedge funds own 41.40% of the company’s stock.

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. It offers services in connection with tax-deferred exchanges of like-kind property; acts as a qualified intermediary in tax-deferred exchanges of property; coordinates the exchange aspects of the real estate transaction, such as drafting standard exchange documents, holding the exchange funds between the sale of the old property and the purchase of the new property, and accepting the formal identification of the replacement property.