Investors Title (NASDAQ:ITIC) Director Jr. Elton Parker Buys 538 Shares

Investors Title Company (NASDAQ:ITIC) Director Jr. Elton Parker bought 538 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were bought at an average cost of $231.00 per share, for a total transaction of $124,278.00. Following the transaction, the director owned 3,750 shares in the company, valued at approximately $866,250. The trade was a 16.75% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Investors Title Stock Down 2.0%

Shares of Investors Title stock opened at $232.00 on Thursday. The stock’s fifty day moving average is $228.71 and its two-hundred day moving average is $247.50. The company has a market capitalization of $438.48 million, a PE ratio of 11.54 and a beta of 0.67. Investors Title Company has a 52 week low of $190.20 and a 52 week high of $288.98.

Investors Title (NASDAQ:ITIC) last announced its quarterly earnings data on Thursday, May 7th. The insurance provider reported $3.20 earnings per share (EPS) for the quarter. Investors Title had a return on equity of 14.03% and a net margin of 13.59%.The company had revenue of $63.49 million for the quarter.

Investors Title Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors 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 dividend on an annualized basis and a yield of 0.8%. Investors Title’s dividend payout ratio (DPR) is presently 9.15%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ITIC. SummerHaven Investment Management LLC purchased a new position in Investors Title during the third quarter valued at approximately $1,125,000. Engineers Gate Manager LP acquired a new stake in shares of Investors Title in the fourth quarter worth approximately $226,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Investors Title by 6.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock worth $201,000 after acquiring an additional 49 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in shares of Investors Title by 34.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock worth $48,000 after acquiring an additional 49 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Investors Title in the fourth quarter worth approximately $224,000. 41.40% of the stock is currently owned by hedge funds and other institutional investors.

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. 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.