Profit Investment Management LLC Takes $1.47 Million Position 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 bought a new position in Investors Title Company (NASDAQ:ITIC - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 6,936 shares of the insurance provider's stock, valued at approximately $1,466,000. Profit Investment Management LLC owned approximately 0.37% of Investors Title as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Citadel Advisors LLC acquired a new position in Investors Title in the 4th quarter worth about $513,000. Deutsche Bank AG increased its holdings in Investors Title by 33.6% in the 4th quarter. Deutsche Bank AG now owns 1,448 shares of the insurance provider's stock worth $343,000 after purchasing an additional 364 shares in the last quarter. Bank of America Corp DE increased its holdings in Investors Title by 6.7% in the 4th quarter. Bank of America Corp DE now owns 7,951 shares of the insurance provider's stock worth $1,882,000 after purchasing an additional 497 shares in the last quarter. Northern Trust Corp increased its stake in shares of Investors Title by 6.5% in the fourth quarter. Northern Trust Corp now owns 14,562 shares of the insurance provider's stock valued at $3,448,000 after buying an additional 892 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Investors Title by 132,500.0% in the first quarter. GAMMA Investing LLC now owns 5,304 shares of the insurance provider's stock valued at $12,790,000 after buying an additional 5,300 shares during the period. Institutional investors and hedge funds own 41.40% of the company's stock.

Investors Title Stock Performance

Shares of ITIC stock traded up $1.13 on Monday, hitting $255.28. The company had a trading volume of 14,301 shares, compared to its average volume of 33,291. The firm has a market cap of $482.48 million, a P/E ratio of 14.60 and a beta of 0.87. The stock's 50-day moving average is $232.22 and its two-hundred day moving average is $228.03. Investors Title Company has a twelve month low of $190.20 and a twelve month high of $290.40.

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

Investors Title Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a $0.46 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. Investors Title's dividend 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.