Investors Title (NASDAQ:ITIC) Sees Unusually-High Trading Volume – What’s Next?

Investors Title Company (NASDAQ:ITIC) saw strong trading volume on Thursday . 85,568 shares traded hands during mid-day trading, an increase of 238% from the previous session’s volume of 25,289 shares.The stock last traded at $283.8450 and had previously closed at $279.39.

Wall Street Analysts Forecast Growth

ITIC has been the topic of several recent analyst reports. Wall Street Zen lowered shares of Investors Title from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Weiss Ratings upgraded shares of Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Investors Title Price Performance

The stock has a market capitalization of $530.92 million, a price-to-earnings ratio of 13.99 and a beta of 0.63. The business’s 50-day simple moving average is $248.34 and its two-hundred day simple moving average is $243.77.

Investors Title (NASDAQ:ITIC) last released 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 net margin of 13.59% and a return on equity of 14.03%. The company had revenue of $63.49 million during the quarter.

Investors Title Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 15th. Investors Title’s dividend payout ratio is currently 9.15%.

Insider Buying and Selling

In related news, Director Jr. Elton C. Parker acquired 538 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were bought at an average cost of $231.00 per share, with a total value of $124,278.00. Following the completion of the transaction, the director directly owned 3,750 shares of the company’s stock, valued at $866,250. This trade represents a 16.75% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 25.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Investors Title

A number of large investors have recently modified their holdings of the stock. Two Sigma Investments LP raised its holdings in shares of Investors Title by 18.7% during the 3rd quarter. Two Sigma Investments LP now owns 42,303 shares of the insurance provider’s stock valued at $11,330,000 after buying an additional 6,673 shares during the period. Geode Capital Management LLC grew its position in Investors Title by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 36,696 shares of the insurance provider’s stock valued at $9,163,000 after acquiring an additional 777 shares in the last quarter. State Street Corp grew its holdings in Investors Title by 7.6% during the 4th quarter. State Street Corp now owns 30,049 shares of the insurance provider’s stock valued at $7,501,000 after purchasing an additional 2,127 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Investors Title by 110.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,140 shares of the insurance provider’s stock worth $5,028,000 after buying an additional 10,589 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Investors Title by 27.1% in the 4th quarter. BNP Paribas Financial Markets now owns 20,015 shares of the insurance provider’s stock worth $4,997,000 after buying an additional 4,268 shares in the last quarter. Institutional investors and hedge funds own 41.40% of the company’s stock.

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.