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

Key Points

• Investors Title's stock price gapped down from $258.31 to $249.89 before trading, with recent trading at $264.74 and a volume of 20,709 shares.
• The company declared a **quarterly dividend of $0.46**, with an annualized yield of 0.7% and a dividend payout ratio of 10.53%.
• Weiss Ratings has reissued a "buy" rating for Investors Title, contributing to the stock having an average rating of "Buy" from analysts.

Investors Title Company (NASDAQ:ITIC - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $258.31, but opened at $249.89. Investors Title shares last traded at $264.74, with a volume of 20,709 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Investors Title in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Investors Title presently has an average rating of "Buy".

Investors Title Trading Up 3.1%

The firm's 50 day simple moving average is $252.87 and its 200-day simple moving average is $231.33. The stock has a market capitalization of $503.19 million, a price-to-earnings ratio of 15.23 and a beta of 0.87.

Investors Title (NASDAQ:ITIC - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $6.48 earnings per share for the quarter. The company had revenue of $71.55 million for the quarter. Investors Title had a net margin of 12.28% and a return on equity of 12.70%.

Investors Title Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, September 2nd. Investors Title's dividend payout ratio (DPR) is 10.53%.

Institutional Investors Weigh In On Investors Title

A number of large investors have recently modified their holdings of the business. AlphaQuest LLC bought a new position in Investors Title in the 2nd quarter valued at approximately $27,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Investors Title in the 2nd quarter valued at approximately $224,000. Brevan Howard Capital Management LP bought a new position in Investors Title in the 2nd quarter valued at approximately $240,000. Trexquant Investment LP bought a new position in Investors Title in the 1st quarter valued at approximately $244,000. Finally, OMERS ADMINISTRATION Corp bought a new position in Investors Title in the 2nd quarter valued at approximately $275,000. Institutional investors and hedge funds 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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