Investors Title (NASDAQ:ITIC) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Investors Title Company (NASDAQ:ITIC) shares rose above their 200-day moving average of $224.55, reaching a high of $229.90 during trading, though the latest trade was at $224.09.
• Wall Street Zen recently downgraded Investors Title from a "buy" to a "hold" rating, indicating a shift in investor sentiment.
• The company declared a quarterly dividend of $0.46 per share, with a dividend yield of 0.8% and a payout ratio of 11.72%.

Investors Title Company (NASDAQ:ITIC - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $224.55 and traded as high as $229.90. Investors Title shares last traded at $224.09, with a volume of 53,102 shares.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Investors Title from a "buy" rating to a "hold" rating in a research report on Monday, May 12th.

Investors Title Stock Up 2.7%

The company has a market capitalization of $423.53 million, a P/E ratio of 14.27 and a beta of 0.91. The company has a 50-day moving average of $208.72 and a two-hundred day moving average of $224.55.

Investors Title (NASDAQ:ITIC - Get Free Report) last announced its earnings results on Wednesday, August 6th. The insurance provider reported $6.48 earnings per share for the quarter. Investors Title had a net margin of 11.37% and a return on equity of 11.44%.

Investors Title Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.84 annualized dividend and a dividend yield of 0.8%. Investors Title's dividend payout ratio is presently 11.72%.

Institutional Trading of Investors Title

Several hedge funds have recently bought and sold shares of the stock. Martingale Asset Management L P lifted its position in Investors Title by 3.4% in the first quarter. Martingale Asset Management L P now owns 1,480 shares of the insurance provider's stock worth $357,000 after buying an additional 49 shares during the last quarter. Royal Bank of Canada grew its stake in Investors Title by 2.3% in the 1st quarter. Royal Bank of Canada now owns 3,937 shares of the insurance provider's stock worth $949,000 after acquiring an additional 88 shares in the last quarter. AlphaQuest LLC purchased a new position in Investors Title during the 2nd quarter worth $27,000. AQR Capital Management LLC increased its stake in shares of Investors Title by 8.0% during the first quarter. AQR Capital Management LLC now owns 1,917 shares of the insurance provider's stock valued at $462,000 after buying an additional 142 shares during the period. Finally, Barclays PLC increased its position in Investors Title by 6.1% during the 4th quarter. Barclays PLC now owns 2,553 shares of the insurance provider's stock valued at $604,000 after purchasing an additional 147 shares during the period. 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.

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