Investors Title (NASDAQ:ITIC) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Investors Title shares surpassed the 200-day moving average of $229.63, trading as high as $270.93, with the last price at $268.88.
• The company reported an earnings per share (EPS) of $6.48 for the last quarter, alongside a return on equity of 12.70% and a net margin of 12.28%.
• A quarterly dividend of $0.46 has been recently paid, providing an annualized dividend yield of 0.7% for shareholders.

Investors Title Company (NASDAQ:ITIC - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $229.63 and traded as high as $270.93. Investors Title shares last traded at $268.88, with a volume of 25,466 shares changing hands.

Investors Title Trading Up 0.4%

The stock has a 50-day simple moving average of $241.49 and a 200-day simple moving average of $229.63. The company has a market capitalization of $508.18 million, a price-to-earnings ratio of 15.38 and a beta of 0.87.

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 (EPS) for the quarter. Investors Title had a return on equity of 12.70% and a net margin of 12.28%.

Investors Title Dividend Announcement

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

Hedge Funds Weigh In On Investors Title

A number of institutional investors have recently made changes to their positions in ITIC. Bank of America Corp DE raised its position in shares of Investors Title by 6.7% in the 4th quarter. Bank of America Corp DE now owns 7,951 shares of the insurance provider's stock valued at $1,882,000 after purchasing an additional 497 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Investors Title by 132,500.0% during the 1st quarter. GAMMA Investing LLC now owns 5,304 shares of the insurance provider's stock valued at $12,790,000 after acquiring an additional 5,300 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Investors Title by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 75,800 shares of the insurance provider's stock valued at $18,274,000 after acquiring an additional 730 shares in the last quarter. Invesco Ltd. raised its position in shares of Investors Title by 55.6% during the 1st quarter. Invesco Ltd. now owns 1,559 shares of the insurance provider's stock valued at $376,000 after acquiring an additional 557 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Investors Title during the 1st quarter valued at approximately $861,000. 41.40% of the stock is owned by institutional investors and hedge funds.

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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