Investors Title (NASDAQ:ITIC) Director Buys 500 Shares of Company Stock

Key Points

• Director Jr. Elton Parker bought 500 shares at $266 each, investing $133,000 and increasing his direct ownership by 13.33% to 4,250 shares.
• Investors Title declared a special dividend of $19.27 per share, payable December 15 to shareholders of record on December 1.
• The company reported quarterly EPS of $4.97 and revenue of $83.55 million; its shares fell 1.8% to $258.65 in Thursday trading.

Investors Title Company (NASDAQ:ITIC - Get Free Report) Director Jr. Elton Parker bought 500 shares of the stock in a transaction dated Wednesday, November 11th. The shares were acquired at an average price of $266.00 per share, for a total transaction of $133,000.00. Following the completion of the purchase, the director directly owned 4,250 shares in the company, valued at approximately $1,130,500. This trade represents a 13.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Investors Title Trading Down 1.8%

Shares of NASDAQ:ITIC traded down $4.66 during midday trading on Thursday, reaching $258.65. The company had a trading volume of 8,328 shares, compared to its average volume of 38,973. Investors Title Company has a 52-week low of $209.75 and a 52-week high of $309.55. The company's 50 day moving average price is $285.71 and its 200 day moving average price is $261.96. The stock has a market cap of $488.86 million, a P/E ratio of 13.01 and a beta of 0.60.

Investors Title (NASDAQ:ITIC - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The insurance provider reported $4.97 EPS for the quarter. The business had revenue of $83.55 million for the quarter. Investors Title had a net margin of 12.47% and a return on equity of 13.64%.

Investors Title Announces Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a $19.27 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. Investors Title's payout ratio is 9.26%.

Hedge Funds Weigh In On Investors Title

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its stake in shares of Investors Title by 6.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 962 shares of the insurance provider's stock valued at $272,000 after buying an additional 57 shares in the last quarter. Engineers Gate Manager LP grew its stake in Investors Title by 137.6% in the 2nd quarter. Engineers Gate Manager LP now owns 2,801 shares of the insurance provider's stock valued at $767,000 after buying an additional 1,622 shares in the last quarter. Bank of America Corp DE purchased a new position in Investors Title in the 2nd quarter valued at approximately $1,554,000. Legal & General Group Plc bought a new stake in Investors Title during the 2nd quarter valued at $100,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Investors Title during the 2nd quarter valued at $290,000. Institutional investors own 41.40% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on ITIC shares. Weiss Ratings lowered Investors Title from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, November 3rd. Wall Street Zen downgraded Investors Title from a "buy" rating to a "hold" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the company has a consensus rating of "Buy".

About Investors Title

Investors Title Company NASDAQ: ITIC is a title insurance and real estate services company headquartered in Chapel Hill, North Carolina. Through its subsidiaries, it provides title insurance that helps protect property owners and mortgage lenders against certain losses arising from defects in a property's title. The company also offers related services, including title examination and settlement support, as well as tax-deferred exchange services for real estate transactions. It distributes its products through a network of agents and its own operations in multiple U.S. states.

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