Investors Title (NASDAQ:ITIC) to Issue Quarterly Dividend of $0.46

Investors Title (NASDAQ:ITIC) announced a quarterly dividend on Wednesday, May 21st, RTT News reports. Shareholders of record on Friday, June 13th will be given a dividend of 0.46 per share by the insurance provider on Monday, June 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, June 13th.

Investors Title Price Performance

Shares of ITIC opened at $200.24 on Wednesday. The business has a 50-day moving average of $228.49 and a 200-day moving average of $236.09. The company has a market capitalization of $377.65 million, a price-to-earnings ratio of 12.19 and a beta of 0.92. Investors Title has a 1 year low of $168.74 and a 1 year high of $290.40.

Investors Title (NASDAQ:ITIC) last released its earnings results on Thursday, May 8th. The insurance provider reported $1.67 earnings per share for the quarter. Investors Title had a net margin of 12.03% and a return on equity of 11.84%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Investors Title from a “buy” rating to a “hold” rating in a research note on Monday, May 12th.

Institutional Trading of Investors Title

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC lifted its stake in shares of Investors Title by 8.0% in the 1st quarter. AQR Capital Management LLC now owns 1,917 shares of the insurance provider’s stock valued at $462,000 after purchasing an additional 142 shares during the period. Jane Street Group LLC acquired a new position in Investors Title in the first quarter valued at approximately $571,000. Finally, Royal Bank of Canada lifted its stake in Investors Title by 2.3% in the first quarter. Royal Bank of Canada now owns 3,937 shares of the insurance provider’s stock valued at $949,000 after buying an additional 88 shares during the period. 41.40% of the stock is currently owned by institutional investors and hedge funds.

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.