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. Investors of record on Tuesday, September 2nd will be paid a dividend of 0.46 per share by the insurance provider on Monday, September 15th. This represents a c) dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Tuesday, September 2nd.

Investors Title Stock Performance

ITIC stock traded up $2.93 during trading on Thursday, reaching $247.54. 22,712 shares of the company traded hands, compared to its average volume of 34,063. The company has a market capitalization of $467.85 million, a price-to-earnings ratio of 14.16 and a beta of 0.91. The business has a 50 day simple moving average of $211.31 and a 200 day simple moving average of $224.82. Investors Title has a 12 month low of $190.20 and a 12 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%.

Institutional Investors Weigh In On Investors Title

Several institutional investors have recently added to or reduced their stakes in ITIC. Profit Investment Management LLC acquired a new stake in Investors Title in the second quarter worth about $1,466,000. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 5,300 shares during the period. Aristides Capital LLC lifted its holdings in shares of Investors Title by 33.6% during the second quarter. Aristides Capital LLC now owns 15,920 shares of the insurance provider's stock worth $3,364,000 after purchasing an additional 4,000 shares during the period. Nuveen LLC acquired a new stake in shares of Investors Title during the first quarter worth about $861,000. Finally, Militia Capital Partners LP acquired a new stake in shares of Investors Title during the first quarter worth about $809,000. Institutional investors and hedge funds own 41.40% of the company's stock.

Investors Title Company 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.