Investors Title (NASDAQ:ITIC) Shares Gap Down - Time to Sell?

Key Points

• Investors Title shares gapped down from a prior close of $295.43 to open at $285.16, later trading near $284.46 on volume of 12,026 shares.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating, although Wall Street Zen recently downgraded the stock to “Hold.” The company reported quarterly EPS of $7.73 on revenue of $81.71 million.
• Investors Title pays a quarterly dividend of $0.46, equivalent to a $1.84 annualized payout and a 0.6% yield; insiders own 25.96% of shares, while institutional investors own 41.40%.

Investors Title Company (NASDAQ:ITIC - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $295.43, but opened at $285.16. Investors Title shares last traded at $284.4640, with a volume of 12,026 shares.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ITIC shares. Wall Street Zen cut Investors Title from a "buy" rating to a "hold" rating in a report on Wednesday, August 5th. Weiss Ratings raised Investors Title from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy".

Investors Title Stock Performance

The firm's 50-day moving average is $270.72 and its two-hundred day moving average is $249.38. The stock has a market cap of $534.52 million, a P/E ratio of 13.26 and a beta of 0.63.

Investors Title (NASDAQ:ITIC - Get Free Report) last released its earnings results on Thursday, August 6th. The insurance provider reported $7.73 earnings per share for the quarter. The company had revenue of $81.71 million during the quarter. Investors Title had a return on equity of 14.81% and a net margin of 13.80%.

Investors Title Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. Investors Title's dividend payout ratio (DPR) is 8.62%.

Insider Activity at Investors Title

In other Investors Title news, Director Jr. Elton C. Parker purchased 538 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was acquired at an average cost of $231.00 per share, with a total value of $124,278.00. Following the completion of the purchase, the director directly owned 3,750 shares in the company, valued at approximately $866,250. This represents a 16.75% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 25.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Investors Title

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. bought a new stake in shares of Investors Title during the 2nd quarter valued at $292,000. BlackRock Inc. bought a new position in shares of Investors Title in the 2nd quarter worth $32,062,000. Deutsche Bank AG acquired a new stake in shares of Investors Title during the second quarter worth $391,000. Bank of New York Mellon Corp acquired a new stake in shares of Investors Title during the second quarter worth $3,588,000. Finally, GSA Capital Partners LLP bought a new stake in Investors Title in the second quarter valued at about $777,000. 41.40% of the stock is owned by institutional investors.

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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