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

Key Points

• Investors Title shares crossed above their 200-day moving average, reaching $295.00 before last trading at $289.80, compared with a 200-day average of $248.59.
• Analyst sentiment remains generally positive: Weiss Ratings upgraded the stock to “buy,” while Wall Street Zen downgraded it to “hold”; MarketBeat reports an average “Buy” rating.
• The company reported quarterly EPS of $3.20 on $63.49 million in revenue and paid a $0.46 quarterly dividend, equivalent to a 0.6% yield and a 9.15% payout ratio.

Investors Title Company (NASDAQ:ITIC - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $248.59 and traded as high as $295.00. Investors Title shares last traded at $289.80, with a volume of 31,827 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Weiss Ratings raised Investors Title from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 1st. Wall Street Zen lowered Investors Title from a "buy" rating to a "hold" rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy".

Investors Title Stock Performance

The firm has a market cap of $547.72 million, a price-to-earnings ratio of 14.42 and a beta of 0.63. The stock's 50 day simple moving average is $267.52 and its 200-day simple moving average is $248.59.

Investors Title (NASDAQ:ITIC - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The insurance provider reported $3.20 earnings per share (EPS) for the quarter. Investors Title had a net margin of 13.59% and a return on equity of 14.03%. The company had revenue of $63.49 million during the quarter.

Investors Title Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors 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 was Monday, June 15th. Investors Title's payout ratio is currently 9.15%.

Insider Buying and Selling

In other Investors Title news, Director Jr. Elton C. Parker acquired 538 shares of the company's stock in a transaction on Wednesday, May 13th. The shares were bought at an average cost of $231.00 per share, with a total value of $124,278.00. Following the completion of the acquisition, the director owned 3,750 shares in the company, valued at approximately $866,250. This trade represents a 16.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 25.96% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new position in Investors Title during the fourth quarter worth $36,000. CANADA LIFE ASSURANCE Co grew its position in shares of Investors Title by 34.0% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider's stock valued at $48,000 after purchasing an additional 49 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Investors Title by 357.4% during the third quarter. Russell Investments Group Ltd. now owns 311 shares of the insurance provider's stock worth $83,000 after purchasing an additional 243 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Investors Title by 6.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider's stock worth $201,000 after purchasing an additional 49 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Investors Title during the 4th quarter worth about $224,000. 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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