Wall Street Zen Downgrades Investors Title (NASDAQ:ITIC) to Hold

Key Points

• Wall Street Zen downgraded Investors Title from “Buy” to “Hold,” although Weiss Ratings upgraded the stock to “Buy (B)” and MarketBeat’s average rating remains “Buy.”
• Investors Title opened at $289.80, near its 52-week high of $297.31, with a $547.72 million market capitalization and a P/E ratio of 14.42.
• The company reported quarterly earnings of $3.20 per share on revenue of $63.49 million, while insiders own 25.96% and institutional investors hold 41.40% of the stock.

Investors Title (NASDAQ:ITIC - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Wednesday.

Separately, Weiss Ratings raised Investors Title from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Investors Title has an average rating of "Buy".

Investors Title Price Performance

NASDAQ ITIC opened at $289.80 on Wednesday. Investors Title has a 1-year low of $209.75 and a 1-year high of $297.31. The business has a 50 day simple moving average of $267.52 and a two-hundred day simple moving average of $248.59. The stock has a market capitalization of $547.72 million, a PE ratio of 14.42 and a beta of 0.63.

Investors Title (NASDAQ:ITIC - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The insurance provider reported $3.20 earnings per share 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 for the quarter.

Insider Buying and Selling at Investors Title

In other Investors Title news, Director Jr. Elton C. Parker bought 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, for a total transaction of $124,278.00. Following the acquisition, the director directly owned 3,750 shares in the company, valued at approximately $866,250. The trade was a 16.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 25.96% of the company's stock.

Hedge Funds Weigh In On Investors Title

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its position in Investors Title by 486.5% in the 3rd quarter. Millennium Management LLC now owns 16,815 shares of the insurance provider's stock worth $4,504,000 after purchasing an additional 13,948 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Investors Title by 110.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,140 shares of the insurance provider's stock worth $5,028,000 after purchasing an additional 10,589 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Investors Title by 12,260.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,506 shares of the insurance provider's stock valued at $2,220,000 after purchasing an additional 10,421 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of Investors Title by 18.7% during the 3rd quarter. Two Sigma Investments LP now owns 42,303 shares of the insurance provider's stock valued at $11,330,000 after purchasing an additional 6,673 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Investors Title in the 3rd quarter valued at $1,463,000. Hedge funds and other institutional investors own 41.40% of the company's stock.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source