Investors Title (NASDAQ:ITIC) Sees Large Volume Increase - Time to Buy?

Key Points

• Investors Title shares rose 0.6% to about $290.76, while trading volume increased 62% to roughly 49,653 shares. The stock’s market capitalization is approximately $546.9 million.
• Recent analyst opinions were mixed: Weiss Ratings upgraded the stock to “buy,” while Wall Street Zen downgraded it to “hold.” MarketBeat’s overall consensus rating remains “Buy.”
• The company reported quarterly EPS of $7.73 on revenue of $81.71 million and announced a $0.46 quarterly dividend, equivalent to a 0.6% yield and an 8.62% payout ratio.

Shares of Investors Title Company (NASDAQ:ITIC - Get Free Report) saw an uptick in trading volume on Monday . Approximately 49,653 shares traded hands during mid-day trading, an increase of 62% from the previous session's volume of 30,572 shares.The stock last traded at $290.7550 and had previously closed at $287.71.

Analyst Ratings Changes

A number of research analysts recently issued reports on ITIC shares. Weiss Ratings upgraded Investors Title from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 1st. Wall Street Zen cut Investors Title from a "buy" rating to a "hold" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy".

Investors Title Stock Up 0.6%

The firm has a market cap of $546.94 million, a price-to-earnings ratio of 13.55 and a beta of 0.63. The company's fifty day moving average is $275.50 and its 200 day moving average is $250.46.

Investors Title (NASDAQ:ITIC - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The insurance provider reported $7.73 earnings per share (EPS) for the quarter. Investors Title had a net margin of 13.80% and a return on equity of 14.62%. The firm had revenue of $81.71 million for the quarter.

Investors Title Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.6%. Investors Title's payout ratio is currently 8.62%.

Institutional Trading of Investors Title

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in Investors Title by 2.3% in the first quarter. Royal Bank of Canada now owns 3,937 shares of the insurance provider's stock valued at $949,000 after purchasing an additional 88 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Investors Title by 8.0% during the 1st quarter. AQR Capital Management LLC now owns 1,917 shares of the insurance provider's stock worth $462,000 after purchasing an additional 142 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Investors Title during the 1st quarter worth approximately $571,000. Invesco Ltd. raised its stake in shares of Investors Title by 4.0% during 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 in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Investors Title by 4.2% in the 2nd quarter. First Trust Advisors LP now owns 4,749 shares of the insurance provider's stock valued at $1,003,000 after buying an additional 190 shares during the last quarter. 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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