Investors Title Company (NASDAQ:ITIC) Short Interest Update

Investors Title Company (NASDAQ:ITIC) was the recipient of a large decrease in short interest during the month of December. As of December 15th, there was short interest totaling 48,886 shares, a decrease of 16.3% from the November 30th total of 58,438 shares. Approximately 3.5% of the shares of the stock are sold short. Based on an average trading volume of 17,809 shares, the days-to-cover ratio is presently 2.7 days. Based on an average trading volume of 17,809 shares, the days-to-cover ratio is presently 2.7 days. Approximately 3.5% of the shares of the stock are sold short.

Investors Title Stock Performance

Shares of ITIC opened at $250.66 on Wednesday. The company has a 50 day moving average price of $262.97 and a 200-day moving average price of $244.56. Investors Title has a fifty-two week low of $190.20 and a fifty-two week high of $288.98. The stock has a market capitalization of $473.75 million, a PE ratio of 13.19 and a beta of 0.62.

Investors Title (NASDAQ:ITIC) last issued its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $6.45 EPS for the quarter. The company had revenue of $70.97 million during the quarter. Investors Title had a net margin of 13.15% and a return on equity of 13.72%.

Investors Title Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, December 1st. Investors Title’s payout ratio is 9.68%.

Wall Street Analyst Weigh In

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

Institutional Trading of Investors Title

A number of institutional investors have recently modified their holdings of the company. Two Sigma Investments LP lifted its position in Investors Title by 18.7% during the third quarter. Two Sigma Investments LP now owns 42,303 shares of the insurance provider’s stock valued at $11,330,000 after acquiring an additional 6,673 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Investors Title by 4.7% in the 2nd quarter. Geode Capital Management LLC now owns 35,529 shares of the insurance provider’s stock valued at $7,509,000 after acquiring an additional 1,581 shares during the period. Millennium Management LLC lifted its position in Investors Title by 486.5% during the 3rd quarter. Millennium Management LLC now owns 16,815 shares of the insurance provider’s stock worth $4,504,000 after acquiring an additional 13,948 shares during the period. Aristides Capital LLC grew its stake in Investors Title by 33.6% during the 2nd quarter. Aristides Capital LLC now owns 15,920 shares of the insurance provider’s stock valued at $3,364,000 after purchasing an additional 4,000 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Investors Title by 19.7% in the second quarter. American Century Companies Inc. now owns 15,791 shares of the insurance provider’s stock worth $3,337,000 after purchasing an additional 2,599 shares during the last quarter. 41.40% of the stock is currently owned by institutional investors.

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. It offers services in connection with tax-deferred exchanges of like-kind property; acts as a qualified intermediary in tax-deferred exchanges of property; coordinates the exchange aspects of the real estate transaction, such as drafting standard exchange documents, holding the exchange funds between the sale of the old property and the purchase of the new property, and accepting the formal identification of the replacement property.