Investors Title (NASDAQ:ITIC) Hits New 1-Year High - Here's Why

Key Points

• Investors Title (NASDAQ:ITIC) reached a new 52-week high, trading as high as $291.44 after closing previously at $283.96, on light volume of 3,745 shares.
• Sentiment has improved after recent analyst actions, including a Wall Street Zen upgrade to “buy” and a Weiss Ratings increase, giving the stock an average rating of Buy.
• The company posted solid fundamentals in its last earnings report, with $3.20 EPS, 14.03% return on equity, and a 0.6% dividend yield backed by a low payout ratio.

Investors Title Company (NASDAQ:ITIC - Get Free Report)'s share price hit a new 52-week high during trading on Friday . The stock traded as high as $291.44 and last traded at $289.37, with a volume of 3745 shares. The stock had previously closed at $283.96.

Wall Street Analysts Forecast Growth

ITIC has been the subject of several research reports. Wall Street Zen upgraded shares of Investors Title from a "hold" rating to a "buy" rating in a research report on Sunday, July 12th. Weiss Ratings raised shares of Investors Title from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy".

Investors Title Trading Up 0.8%

The firm has a market capitalization of $541.06 million, a price-to-earnings ratio of 14.24 and a beta of 0.63. The stock has a fifty day moving average of $254.93 and a 200-day moving average of $245.29.

Investors Title (NASDAQ:ITIC - Get Free Report) last announced its earnings results on Thursday, May 7th. The insurance provider reported $3.20 EPS for the quarter. Investors Title had a return on equity of 14.03% and a net margin of 13.59%.The business had revenue of $63.49 million during the quarter.

Investors Title Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.84 dividend on an annualized basis and a yield of 0.6%. Investors Title's dividend payout ratio is currently 9.15%.

Insider Activity at Investors Title

In other news, Director Jr. Elton C. Parker bought 538 shares of the firm's stock in a transaction on Wednesday, May 13th. The stock was bought at an average cost of $231.00 per share, for a total transaction of $124,278.00. Following the completion of the acquisition, the director directly owned 3,750 shares in the company, valued at $866,250. This represents a 16.75% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 25.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Investors Title

Several hedge funds have recently made changes to their positions in ITIC. Goldman Sachs Group Inc. grew its position in Investors Title by 110.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,140 shares of the insurance provider's stock worth $5,028,000 after purchasing an additional 10,589 shares in the last quarter. State Street Corp lifted its holdings in shares of Investors Title by 7.6% in the fourth quarter. State Street Corp now owns 30,049 shares of the insurance provider's stock valued at $7,501,000 after purchasing an additional 2,127 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Investors Title by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 36,696 shares of the insurance provider's stock worth $9,163,000 after buying an additional 777 shares during the period. Two Sigma Investments LP boosted its position in shares of Investors Title by 18.7% in the third quarter. Two Sigma Investments LP now owns 42,303 shares of the insurance provider's stock worth $11,330,000 after buying an additional 6,673 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in shares of Investors Title by 7.3% during the fourth quarter. Lazard Asset Management LLC now owns 5,863 shares of the insurance provider's stock valued at $1,464,000 after buying an additional 400 shares in the last quarter. 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. It offers services in connection with tax-deferred exchanges of like-kind property; acts as a qualified intermediary in tax-deferred exchanges of property; coordinates the exchange aspects of the real estate transaction, such as drafting standard exchange documents, holding the exchange funds between the sale of the old property and the purchase of the new property, and accepting the formal identification of the replacement property.

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