Profit Investment Management LLC Invests $1.47 Million in Investors Title Company $ITIC

Key Points

• Profit Investment Management LLC has acquired a new stake in Investors Title Company (NASDAQ: ITIC), purchasing 6,936 shares valued at approximately $1.47 million.
• Investors Title recently reported a quarterly earnings per share of $6.48 and has declared a $0.46 dividend per share, yielding 0.7% annually.
• As of now, 41.40% of Investors Title's stock is held by institutional investors and hedge funds, reflecting significant interest among large investment firms.

Profit Investment Management LLC acquired a new position in shares of Investors Title Company (NASDAQ:ITIC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,936 shares of the insurance provider's stock, valued at approximately $1,466,000. Profit Investment Management LLC owned 0.37% of Investors Title at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ITIC. GAMMA Investing LLC lifted its stake in shares of Investors Title by 132,500.0% during the first quarter. GAMMA Investing LLC now owns 5,304 shares of the insurance provider's stock worth $12,790,000 after buying an additional 5,300 shares during the period. Nuveen LLC acquired a new stake in shares of Investors Title during the first quarter worth $861,000. Militia Capital Partners LP acquired a new stake in shares of Investors Title during the first quarter worth $809,000. American Century Companies Inc. lifted its stake in shares of Investors Title by 22.3% during the first quarter. American Century Companies Inc. now owns 13,192 shares of the insurance provider's stock worth $3,180,000 after buying an additional 2,404 shares during the period. Finally, Jane Street Group LLC acquired a new position in Investors Title during the first quarter valued at $571,000. 41.40% of the stock is currently owned by institutional investors and hedge funds.

Investors Title Stock Performance

NASDAQ ITIC traded up $3.19 on Tuesday, reaching $258.47. 14,264 shares of the company's stock traded hands, compared to its average volume of 33,183. The firm has a market cap of $488.51 million, a price-to-earnings ratio of 14.79 and a beta of 0.87. The stock has a 50 day moving average price of $233.22 and a 200-day moving average price of $228.19. Investors Title Company has a fifty-two week low of $190.20 and a fifty-two week high of $290.40.

Investors Title (NASDAQ:ITIC - Get Free Report) last posted its earnings results on Wednesday, August 6th. The insurance provider reported $6.48 earnings per share (EPS) for the quarter. Investors Title had a net margin of 12.28% and a return on equity of 12.70%.

Investors Title Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $0.46 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. Investors Title's payout ratio is presently 10.53%.

Investors Title 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.