Investors Title (NASDAQ:ITIC) Sees Strong Trading Volume - Here's What Happened

Key Points

• Shares experienced a 44% increase in mid-day trading volume to 24,864 shares, with the stock last trading at $249.48 versus the prior close of $240.99.
• Investors Title reported quarterly EPS of $3.97 on $69.32 million in revenue, has a market cap of $540.31 million and a P/E of 13.35, with 50- and 200-day moving averages near $227.13 and $249.10.
• The company paid a quarterly dividend of $0.46 (annualized $1.84, yield 0.7%) and received a restated Buy rating from Weiss Ratings, while institutional investors own about 41.4% of the stock.

Investors Title Company (NASDAQ:ITIC - Get Free Report) shares saw an uptick in trading volume on Tuesday . 24,864 shares changed hands during mid-day trading, an increase of 44% from the previous session's volume of 17,258 shares.The stock last traded at $249.48 and had previously closed at $240.99.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "buy (b)" rating on shares of Investors Title in a research note on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Investors Title currently has an average rating of "Buy".

Investors Title Stock Performance

The stock has a 50 day moving average of $227.13 and a two-hundred day moving average of $249.10. The firm has a market capitalization of $540.31 million, a P/E ratio of 13.35 and a beta of 0.66.

Investors Title (NASDAQ:ITIC - Get Free Report) last announced its earnings results on Tuesday, February 17th. The insurance provider reported $3.97 earnings per share (EPS) for the quarter. Investors Title had a return on equity of 13.19% and a net margin of 12.90%.The firm had revenue of $69.32 million during the quarter.

Investors Title Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, March 23rd. Investors Title's dividend payout ratio (DPR) is currently 9.91%.

Institutional Trading of Investors Title

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC bought a new stake in shares of Investors Title in the third quarter valued at approximately $1,125,000. Inceptionr LLC acquired a new position in Investors Title during the 4th quarter valued at $265,000. Franklin Resources Inc. bought a new stake in Investors Title in the 3rd quarter valued at $242,000. Brevan Howard Capital Management LP acquired a new stake in Investors Title in the 2nd quarter worth $240,000. Finally, Engineers Gate Manager LP acquired a new stake in Investors Title in the 4th quarter worth $226,000. 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. 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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