Investors Title (NASDAQ:ITIC) Shares Gap Down - Here's Why

Investors Title (NASDAQ:ITIC - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $230.82, but opened at $225.89. Investors Title shares last traded at $230.65, with a volume of 7,040 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Investors Title from a "hold" rating to a "buy" rating in a research report on Saturday, March 22nd.

Investors Title Trading Up 0.2 %

The firm's 50-day simple moving average is $233.24 and its 200 day simple moving average is $240.40. The stock has a market cap of $498.12 million, a P/E ratio of 13.92 and a beta of 0.84.

Investors Title (NASDAQ:ITIC - Get Free Report) last announced its earnings results on Thursday, February 13th. The insurance provider reported $4.41 earnings per share for the quarter. The firm had revenue of $70.63 million for the quarter. Investors Title had a return on equity of 11.84% and a net margin of 12.03%.

Investors Title Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 24th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Monday, March 24th. Investors Title's payout ratio is currently 11.20%.

Institutional Investors Weigh In On Investors Title

Several hedge funds and other institutional investors have recently bought and sold shares of ITIC. Aviva PLC raised its holdings in shares of Investors Title by 136.0% in the 4th quarter. Aviva PLC now owns 2,254 shares of the insurance provider's stock worth $534,000 after purchasing an additional 1,299 shares in the last quarter. JPMorgan Chase & Co. grew its position in Investors Title by 187.5% in the third quarter. JPMorgan Chase & Co. now owns 3,260 shares of the insurance provider's stock worth $749,000 after buying an additional 2,126 shares during the last quarter. Barclays PLC increased its holdings in shares of Investors Title by 127.2% in the third quarter. Barclays PLC now owns 2,406 shares of the insurance provider's stock valued at $553,000 after buying an additional 1,347 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Investors Title by 33.2% in the 3rd quarter. Jane Street Group LLC now owns 2,096 shares of the insurance provider's stock worth $482,000 after acquiring an additional 523 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Investors Title by 2.5% during the third quarter. Geode Capital Management LLC now owns 33,275 shares of the insurance provider's stock worth $7,648,000 after purchasing an additional 809 shares during the period. 41.40% of the stock is currently owned by institutional investors.

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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