Investors Title (NASDAQ:ITIC) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Investors Title shares moved above their 200-day moving average, trading as high as $274.43 and last changing hands at $272.37.
• Recent analyst activity was mixed: Weiss Ratings upgraded the stock, while Wall Street Zen downgraded it; MarketBeat says the overall consensus remains a Buy.
• The company reported quarterly EPS of $3.20 on revenue of $63.49 million and recently paid a $0.46 quarterly dividend, which annualizes to a 0.7% yield.

Investors Title Company (NASDAQ:ITIC - Get Free Report)'s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $244.34 and traded as high as $274.43. Investors Title shares last traded at $272.37, with a volume of 19,825 shares.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ITIC shares. Weiss Ratings raised Investors Title from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 1st. Wall Street Zen downgraded shares of Investors Title from a "buy" rating to a "hold" rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy".

Investors Title Trading Down 0.4%

The firm has a market cap of $514.78 million, a PE ratio of 13.55 and a beta of 0.63. The company has a 50-day simple moving average of $250.89 and a 200 day simple moving average of $244.34.

Investors Title (NASDAQ:ITIC - Get Free Report) last posted its earnings results on Thursday, May 7th. The insurance provider reported $3.20 earnings per share for the quarter. Investors Title had a net margin of 13.59% and a return on equity of 14.03%. The firm 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 given a $0.46 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.7%. Investors Title's dividend payout ratio is 9.15%.

Insider Activity

In other news, Director Jr. Elton C. Parker bought 538 shares of the stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $231.00 per share, with a total value of $124,278.00. Following the purchase, the director directly owned 3,750 shares in the company, valued at $866,250. The trade was a 16.75% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 25.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Investors Title

A number of hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. raised its position in shares of Investors Title by 13.1% during the 4th quarter. Meeder Asset Management Inc. now owns 1,068 shares of the insurance provider's stock worth $267,000 after purchasing an additional 124 shares during the last quarter. Inceptionr LLC acquired a new stake in Investors Title in the 4th quarter worth about $265,000. Franklin Resources Inc. acquired a new stake in Investors Title in the 3rd quarter worth about $242,000. Brevan Howard Capital Management LP purchased a new stake in Investors Title during the 2nd quarter worth approximately $240,000. Finally, Engineers Gate Manager LP purchased a new stake in Investors Title during the 4th quarter worth approximately $226,000. 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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