Third Avenue Management LLC Has $7.55 Million Holdings in Investors Title Company $ITIC

Third Avenue Management LLC trimmed its holdings in shares of Investors Title Company (NASDAQ:ITIC) by 8.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,752 shares of the insurance provider’s stock after selling 3,167 shares during the period. Investors Title accounts for approximately 1.6% of Third Avenue Management LLC’s holdings, making the stock its 20th largest holding. Third Avenue Management LLC’s holdings in Investors Title were worth $7,554,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ITIC. AlphaQuest LLC bought a new stake in shares of Investors Title during the second quarter worth $27,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Investors Title in the second quarter valued at about $224,000. Trexquant Investment LP acquired a new position in Investors Title during the 1st quarter worth about $244,000. XTX Topco Ltd bought a new stake in Investors Title during the 2nd quarter worth about $305,000. Finally, Martingale Asset Management L P grew its holdings in Investors Title by 3.4% during the 1st quarter. Martingale Asset Management L P now owns 1,480 shares of the insurance provider’s stock worth $357,000 after acquiring an additional 49 shares during the last quarter. Institutional investors own 41.40% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Investors Title in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Investors Title has a consensus rating of “Buy”.

Investors Title Stock Down 1.5%

Shares of ITIC opened at $277.67 on Monday. The stock’s fifty day simple moving average is $267.48 and its 200-day simple moving average is $239.64. The firm has a market capitalization of $524.23 million, a PE ratio of 15.88 and a beta of 0.87. Investors Title Company has a 12-month low of $190.20 and a 12-month high of $288.98.

Investors Title (NASDAQ:ITIC) last announced its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $6.45 earnings per share for the quarter. Investors Title had a return on equity of 12.70% and a net margin of 12.28%.The firm had revenue of $70.97 million during the quarter.

Investors Title Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, December 1st. Investors Title’s payout ratio is 9.68%.

Investors Title 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.