Fmr LLC Buys 203 Shares of Investors Title (NASDAQ:ITIC)

Fmr LLC raised its holdings in shares of Investors Title (NASDAQ:ITIC) by 73.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 479 shares of the insurance provider’s stock after purchasing an additional 203 shares during the quarter. Fmr LLC’s holdings in Investors Title were worth $110,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Investors Title by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,169 shares of the insurance provider’s stock valued at $958,000 after acquiring an additional 142 shares in the last quarter. Meeder Asset Management Inc. increased its position in Investors Title by 455.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 239 shares of the insurance provider’s stock valued at $55,000 after buying an additional 196 shares in the last quarter. Canal Capital Management LLC purchased a new stake in Investors Title in the third quarter valued at about $230,000. Ritholtz Wealth Management boosted its holdings in Investors Title by 9.0% in the third quarter. Ritholtz Wealth Management now owns 2,703 shares of the insurance provider’s stock worth $621,000 after acquiring an additional 223 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Investors Title during the third quarter worth about $117,000. Institutional investors own 41.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Investors Title from a “hold” rating to a “buy” rating in a research note on Tuesday.

Investors Title Trading Down 2.4 %

Shares of ITIC opened at $237.50 on Tuesday. The firm has a market capitalization of $447.45 million, a price-to-earnings ratio of 15.72 and a beta of 0.89. The firm’s fifty day simple moving average is $257.13 and its 200-day simple moving average is $223.60. Investors Title has a twelve month low of $146.41 and a twelve month high of $290.40.

Investors Title Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $14.46 dividend. The ex-dividend date was Monday, December 2nd. This represents a $57.84 dividend on an annualized basis and a dividend yield of 24.35%. This is an increase from Investors Title’s previous quarterly dividend of $0.46. Investors Title’s dividend payout ratio is presently 12.18%.

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.