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

Key Points

• Investors Title shares broke above their 200-day moving average, reaching $304.51 before last trading at $296.95, compared with the $265.24 average.
• Analyst sentiment remains positive overall, with the stock holding a consensus “Buy” rating despite one recent downgrade to “Hold.”
• The company reported quarterly earnings of $7.73 per share on $81.71 million in revenue and paid a $0.46 quarterly dividend, equivalent to a 0.6% yield.

Investors Title Company (NASDAQ:ITIC - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $265.24 and traded as high as $304.51. Investors Title shares last traded at $296.95, with a volume of 42,292 shares traded.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Investors Title from a "buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Weiss Ratings restated a "buy (b)" rating on shares of Investors Title in a report on Monday, September 28th. One analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the company presently has a consensus rating of "Buy".

Investors Title Trading Down 0.6%

The stock has a market capitalization of $561.24 million, a P/E ratio of 13.91 and a beta of 0.60. The business has a fifty day simple moving average of $293.09 and a 200 day simple moving average of $265.24.

Investors Title (NASDAQ:ITIC - Get Free Report) last posted 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 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.46 per share. The ex-dividend date was Tuesday, September 1st. This represents a $1.84 annualized dividend and a yield of 0.6%. Investors Title's dividend payout ratio (DPR) is 8.62%.

Hedge Funds Weigh In On Investors Title

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Investors Title in the 2nd quarter worth $32,062,000. Aristides Capital LLC lifted 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 valued at $4,119,000 after purchasing an additional 2,273 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of Investors Title during the second quarter valued at about $3,588,000. Bank of America Corp DE bought a new position in shares of Investors Title during the second quarter valued at about $1,554,000. Finally, GSA Capital Partners LLP purchased a new position in Investors Title during the second quarter worth about $777,000. 41.40% of the stock is owned by hedge funds and other institutional investors.

About Investors Title

Investors Title Company NASDAQ: ITIC is an insurance holding company that provides title insurance and related real estate services. Through its title insurance subsidiaries, the company protects property owners and mortgage lenders against certain losses arising from defects, liens, or other issues affecting title to real estate.

The company's offerings include owners' and lenders' title insurance, title searches and examinations, escrow and closing services, and other title-related services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.