Investors Title Company (NASDAQ:ITIC) Short Interest Update

Investors Title Company (NASDAQ:ITIC - Get Free Report) was the recipient of a significant growth in short interest during the month of May. As of May 31st, there was short interest totalling 27,600 shares, a growth of 23.8% from the May 15th total of 22,300 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average daily volume of 35,800 shares, the days-to-cover ratio is currently 0.8 days.

Investors Title Price Performance

ITIC traded up $1.05 during trading hours on Friday, hitting $203.03. 64,964 shares of the stock were exchanged, compared to its average volume of 21,422. The stock has a 50-day simple moving average of $224.89 and a 200-day simple moving average of $232.06. Investors Title has a 12 month low of $173.29 and a 12 month high of $290.40. The stock has a market cap of $382.91 million, a price-to-earnings ratio of 12.93 and a beta of 0.92.

Investors Title (NASDAQ:ITIC - Get Free Report) last posted its earnings results on Thursday, May 8th. The insurance provider reported $1.67 earnings per share (EPS) for the quarter. Investors Title had a return on equity of 11.44% and a net margin of 11.37%.

Investors Title Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Friday, June 13th. Investors Title's payout ratio is 11.72%.

Institutional Investors Weigh In On Investors Title

A number of hedge funds have recently added to or reduced their stakes in the stock. Martingale Asset Management L P lifted its stake in Investors Title by 3.4% in the first quarter. Martingale Asset Management L P now owns 1,480 shares of the insurance provider's stock valued at $357,000 after buying an additional 49 shares during the last quarter. Royal Bank of Canada lifted its stake in Investors Title by 2.3% in the first quarter. Royal Bank of Canada now owns 3,937 shares of the insurance provider's stock valued at $949,000 after buying an additional 88 shares during the last quarter. AQR Capital Management LLC lifted its stake in Investors Title by 8.0% in the first quarter. AQR Capital Management LLC now owns 1,917 shares of the insurance provider's stock valued at $462,000 after buying an additional 142 shares during the last quarter. Barclays PLC lifted its stake in Investors Title by 6.1% in the fourth quarter. Barclays PLC now owns 2,553 shares of the insurance provider's stock valued at $604,000 after buying an additional 147 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Investors Title by 20.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,127 shares of the insurance provider's stock valued at $267,000 after buying an additional 189 shares during the last quarter. 41.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen cut Investors Title from a "buy" rating to a "hold" rating in a research note on Monday, May 12th.

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.