Investors Title (NASDAQ:ITIC) Sets New 1-Year High - Time to Buy?

Key Points

• Investors Title shares reached a new 52-week high, trading as high as $297.99 and closing last at $295.19, up 1.5%. The stock has a $557.9 million market capitalization and trades at a P/E ratio of 13.84.
• The company reported quarterly revenue of $81.71 million and earnings of $7.73 per share, alongside a 14.62% return on equity and 13.80% net margin. Analysts maintain a consensus “Buy” rating, although Wall Street Zen recently downgraded the stock to “Hold.”
• Investors Title declared a quarterly dividend of $0.46 per share, equivalent to $1.84 annually and a 0.6% yield. Institutional investors own 41.4% of the company, with several major funds increasing their positions.

Investors Title Company (NASDAQ:ITIC - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The company traded as high as $297.99 and last traded at $295.19, with a volume of 31023 shares changing hands. The stock had previously closed at $291.16.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ITIC shares. Wall Street Zen cut Investors Title from a "buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded 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 stock currently has a consensus rating of "Buy".

Investors Title Stock Up 1.5%

The firm has a 50 day simple moving average of $277.27 and a two-hundred day simple moving average of $250.98. The stock has a market capitalization of $557.91 million, a P/E ratio of 13.84 and a beta of 0.63.

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 return on equity of 14.62% and a net margin of 13.80%.The company had revenue of $81.71 million for the quarter.

Investors Title Dividend Announcement

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

Institutional Investors Weigh In On Investors Title

A number of hedge funds and other institutional investors have recently bought and sold shares of ITIC. BlackRock Inc. acquired a new stake in shares of Investors Title during the second quarter valued at about $32,062,000. Two Sigma Investments LP raised its holdings in Investors Title by 18.7% in the 3rd quarter. Two Sigma Investments LP now owns 42,303 shares of the insurance provider's stock valued at $11,330,000 after buying an additional 6,673 shares during the last quarter. Geode Capital Management LLC raised its holdings in Investors Title by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 36,696 shares of the insurance provider's stock valued at $9,163,000 after buying an additional 777 shares during the last quarter. State Street Corp boosted its position in Investors Title by 7.6% during the 4th quarter. State Street Corp now owns 30,049 shares of the insurance provider's stock worth $7,501,000 after buying an additional 2,127 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings 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 acquiring an additional 10,589 shares during the last quarter. Institutional investors 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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