Investors Title (NASDAQ:ITIC) Sees Large Volume Increase - Here's Why

Key Points

• Investors Title shares traded 32,511 shares and rose to $305.56 from the prior close of $303.48, while remaining above their 50-day and 200-day moving averages.
• Analyst sentiment remains broadly positive: Weiss Ratings upgraded the stock to “buy,” Wall Street Zen downgraded it to “hold,” and MarketBeat reports an overall “Buy” rating.
• The company reported quarterly earnings of $7.73 per share on $81.71 million in revenue and declared a $0.46 quarterly dividend, representing a 0.6% yield and an 8.62% payout ratio.

Shares of Investors Title Company (NASDAQ:ITIC - Get Free Report) saw strong trading volume on Wednesday . 32,511 shares traded hands during trading, a decline of 1% from the previous session's volume of 32,793 shares.The stock last traded at $305.5610 and had previously closed at $303.48.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Investors Title from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 1st. Wall Street Zen downgraded shares of Investors Title from a "buy" rating to a "hold" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Investors Title has an average rating of "Buy".

Investors Title Price Performance

The business has a 50-day simple moving average of $281.43 and a 200 day simple moving average of $252.00. The firm has a market cap of $575.81 million, a PE ratio of 14.27 and a beta of 0.63.

Investors Title (NASDAQ:ITIC - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The insurance provider reported $7.73 earnings per share for the quarter. The firm had revenue of $81.71 million for the quarter. Investors Title had a return on equity of 14.62% and a net margin of 13.80%.

Investors Title Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $1.84 annualized dividend and a yield of 0.6%. Investors Title's payout ratio is currently 8.62%.

Hedge Funds Weigh In On Investors Title

Hedge funds have recently modified their holdings of the company. GSA Capital Partners LLP bought a new position in shares of Investors Title in the second quarter worth about $777,000. Aristides Capital LLC grew its position in shares of Investors Title by 13.6% during the first quarter. Aristides Capital LLC now owns 18,953 shares of the insurance provider's stock worth $4,119,000 after purchasing an additional 2,273 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Investors Title during the 4th quarter valued at approximately $36,000. Truist Financial Corp raised its stake in Investors Title by 11.7% during the 4th quarter. Truist Financial Corp now owns 4,780 shares of the insurance provider's stock valued at $1,193,000 after purchasing an additional 500 shares during the period. Finally, Bank of America Corp DE purchased a new position in Investors Title in the 2nd quarter worth approximately $1,554,000. 41.40% of the stock is currently 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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