Investors Title (ITIC) Upgraded to “Buy” by BidaskClub

BidaskClub upgraded shares of Investors Title (NASDAQ:ITIC) from a hold rating to a buy rating in a report published on Wednesday morning.

ITIC opened at $180.55 on Wednesday. The company has a market capitalization of $342.44 million, a P/E ratio of 13.22 and a beta of 0.43. Investors Title has a 1-year low of $156.00 and a 1-year high of $221.88.

Investors Title (NASDAQ:ITIC) last released its quarterly earnings results on Friday, November 2nd. The insurance provider reported $5.61 earnings per share for the quarter. The business had revenue of $48.26 million for the quarter. Investors Title had a return on equity of 14.11% and a net margin of 19.07%.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, November 30th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Trust Advisors LP grew its holdings in shares of Investors Title by 25.2% in the 3rd quarter. First Trust Advisors LP now owns 2,035 shares of the insurance provider’s stock worth $342,000 after acquiring an additional 409 shares during the period. California Public Employees Retirement System grew its holdings in shares of Investors Title by 6.0% in the 2nd quarter. California Public Employees Retirement System now owns 5,420 shares of the insurance provider’s stock worth $1,001,000 after acquiring an additional 307 shares during the period. Bank of America Corp DE grew its holdings in shares of Investors Title by 906.4% in the 2nd quarter. Bank of America Corp DE now owns 5,545 shares of the insurance provider’s stock worth $1,023,000 after acquiring an additional 4,994 shares during the period. Bank of New York Mellon Corp grew its holdings in Investors Title by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,734 shares of the insurance provider’s stock valued at $1,428,000 after buying an additional 333 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in Investors Title by 6.3% during the 3rd quarter. Renaissance Technologies LLC now owns 20,200 shares of the insurance provider’s stock valued at $3,392,000 after buying an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 42.50% of the company’s stock.

About Investors Title

Investors Title Company, through its subsidiaries, provides 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.

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