Investors Title (NASDAQ:ITIC) Shares Pass Above Two Hundred Day Moving Average of $162.87

Shares of Investors Title (NASDAQ:ITIC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $162.87 and traded as high as $178.84. Investors Title shares last traded at $176.15, with a volume of 23,273 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Investors Title from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 1st.

Investors Title Stock Down 2.2 %

The company’s 50 day simple moving average is $167.56 and its two-hundred day simple moving average is $162.87. The company has a market capitalization of $331.16 million, a price-to-earnings ratio of 13.30 and a beta of 0.87.

Investors Title (NASDAQ:ITIC) last posted its quarterly earnings results on Friday, May 3rd. The insurance provider reported $2.40 earnings per share (EPS) for the quarter. Investors Title had a net margin of 11.03% and a return on equity of 9.96%. The business had revenue of $53.46 million during the quarter.

Investors Title Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.46 per share. The ex-dividend date was Friday, June 14th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.04%. Investors Title’s payout ratio is 13.90%.

Hedge Funds Weigh In On Investors Title

Hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. purchased a new stake in Investors Title during the 4th quarter valued at about $707,000. Oppenheimer & Co. Inc. grew its position in shares of Investors Title by 2.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 9,790 shares of the insurance provider’s stock valued at $1,587,000 after purchasing an additional 263 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Investors Title by 34.9% in the fourth quarter. Franklin Resources Inc. now owns 10,724 shares of the insurance provider’s stock valued at $1,739,000 after purchasing an additional 2,776 shares during the last quarter. Private Management Group Inc. acquired a new position in Investors Title during the fourth quarter worth $209,000. Finally, O Shaughnessy Asset Management LLC grew its holdings in Investors Title by 26.9% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 2,328 shares of the insurance provider’s stock valued at $345,000 after buying an additional 493 shares in the last quarter. 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.