Investors Title (NASDAQ:ITIC) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of Investors Title (NASDAQ:ITIC) from a buy rating to a hold rating in a research report released on Thursday morning.

Investors Title Price Performance

Shares of NASDAQ ITIC opened at $271.60 on Thursday. The stock’s fifty day moving average price is $235.29 and its two-hundred day moving average price is $204.10. Investors Title has a one year low of $141.41 and a one year high of $283.27. The firm has a market cap of $510.61 million, a price-to-earnings ratio of 17.97 and a beta of 0.85.

Investors Title Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $14.46 per share. This is a positive change from Investors Title’s previous quarterly dividend of $0.46. This represents a $57.84 annualized dividend and a dividend yield of 21.30%. The ex-dividend date is Monday, December 2nd. Investors Title’s dividend payout ratio is 12.18%.

Institutional Trading of Investors Title

Several large investors have recently modified their holdings of ITIC. Geode Capital Management LLC lifted its position in shares of Investors Title by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 33,275 shares of the insurance provider’s stock worth $7,648,000 after buying an additional 809 shares during the last quarter. Barclays PLC lifted its position in shares of Investors Title by 127.2% during the 3rd quarter. Barclays PLC now owns 2,406 shares of the insurance provider’s stock worth $553,000 after buying an additional 1,347 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Investors Title by 33.2% during the 3rd quarter. Jane Street Group LLC now owns 2,096 shares of the insurance provider’s stock worth $482,000 after buying an additional 523 shares during the last quarter. Centiva Capital LP bought a new stake in shares of Investors Title during the 3rd quarter worth $226,000. Finally, PDT Partners LLC bought a new stake in shares of Investors Title during the 3rd quarter worth $267,000. 41.40% of the stock is owned by institutional investors and hedge funds.

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.