Investors Title (NASDAQ:ITIC) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Investors Title (NASDAQ:ITIC) from a buy rating to a hold rating in a research note published on Friday.

Investors Title Stock Performance

ITIC opened at $241.32 on Friday. Investors Title has a fifty-two week low of $146.41 and a fifty-two week high of $290.40. The company has a fifty day moving average of $229.03 and a two-hundred day moving average of $238.90. The stock has a market capitalization of $454.65 million, a price-to-earnings ratio of 14.69 and a beta of 0.97.

Investors Title (NASDAQ:ITIC) last released its quarterly earnings data on Thursday, February 13th. The insurance provider reported $4.41 earnings per share for the quarter. Investors Title had a net margin of 12.03% and a return on equity of 11.84%. The company had revenue of $70.63 million during the quarter.

Investors Title Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 24th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $1.84 dividend on an annualized basis and a yield of 0.76%. Investors Title’s payout ratio is 11.20%.

Institutional Trading of Investors Title

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Deutsche Bank AG increased its stake in shares of Investors Title by 33.6% during the fourth quarter. Deutsche Bank AG now owns 1,448 shares of the insurance provider’s stock worth $343,000 after purchasing an additional 364 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Investors Title during the fourth quarter worth about $513,000. Bank of America Corp DE increased its stake in shares of Investors Title by 6.7% during the fourth quarter. Bank of America Corp DE now owns 7,951 shares of the insurance provider’s stock worth $1,882,000 after purchasing an additional 497 shares in the last quarter. Northern Trust Corp increased its stake in shares of Investors Title by 6.5% during the fourth quarter. Northern Trust Corp now owns 14,562 shares of the insurance provider’s stock worth $3,448,000 after purchasing an additional 892 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Investors Title by 6.1% during the fourth quarter. Barclays PLC now owns 2,553 shares of the insurance provider’s stock worth $604,000 after purchasing an additional 147 shares in the last quarter. 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.