Investors Title Company (NASDAQ:ITIC) Declares $0.46 Quarterly Dividend

Key Points

• Investors Title Company declared a quarterly dividend of $0.46 per share, payable on September 15th to shareholders of record as of September 2nd, indicating a yield of 0.8%.
• The company's stock price rose 4.0% during mid-day trading, reaching $229.99, with a market capitalization of approximately $433.76 million.
• Recent institutional investments saw Geode Capital Management increase its stake by 4.7%, while other firms also acquired stakes, leading to institutional ownership totaling 41.40% of the company.

Investors Title Company (NASDAQ:ITIC - Get Free Report) announced a quarterly dividend on Monday, August 11th, RTT News reports. Shareholders of record on Tuesday, September 2nd will be given a dividend of 0.46 per share by the insurance provider on Monday, September 15th. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, September 2nd.

Investors Title Stock Performance

NASDAQ ITIC traded down $9.88 on Friday, hitting $237.66. The stock had a trading volume of 35,175 shares, compared to its average volume of 33,726. Investors Title has a 52-week low of $190.20 and a 52-week high of $290.40. The company has a market capitalization of $449.18 million, a price-to-earnings ratio of 13.60 and a beta of 0.91. The firm has a 50-day moving average of $212.15 and a 200-day moving average of $224.88.

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%.

Institutional Trading of Investors Title

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its position in shares of Investors Title by 12,260.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,506 shares of the insurance provider's stock valued at $2,220,000 after buying an additional 10,421 shares in the last quarter. Brevan Howard Capital Management LP purchased a new stake in shares of Investors Title during the 2nd quarter valued at $240,000. Quantinno Capital Management LP purchased a new stake in shares of Investors Title during the 2nd quarter valued at $294,000. First Trust Advisors LP raised its position in Investors Title by 4.2% in the 2nd quarter. First Trust Advisors LP now owns 4,749 shares of the insurance provider's stock worth $1,003,000 after purchasing an additional 190 shares during the period. Finally, Invesco Ltd. raised its position in Investors Title by 4.0% in the 2nd quarter. Invesco Ltd. now owns 1,622 shares of the insurance provider's stock worth $343,000 after purchasing an additional 63 shares during the period. Hedge funds and other institutional investors 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.