Investors Title (NASDAQ:ITIC) Sees Large Volume Increase – Time to Buy?

Investors Title Company (NASDAQ:ITIC) shares saw strong trading volume on Thursday . 76,037 shares traded hands during trading, an increase of 173% from the previous session’s volume of 27,859 shares.The stock last traded at $294.80 and had previously closed at $289.17.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on ITIC shares. Wall Street Zen downgraded shares of Investors Title from a “buy” rating to a “hold” rating in a research report on Wednesday. Weiss Ratings raised shares of Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Investors Title presently has an average rating of “Buy”.

Investors Title Stock Performance

The stock has a market cap of $552.29 million, a price-to-earnings ratio of 14.53 and a beta of 0.63. The company has a 50-day simple moving average of $268.47 and a two-hundred day simple moving average of $248.83.

Investors Title (NASDAQ:ITIC) last released its quarterly earnings data on Thursday, August 6th. The insurance provider reported $7.73 EPS for the quarter. Investors Title had a return on equity of 14.03% and a net margin of 13.59%.The company had revenue of $81.71 million during the quarter.

Investors Title Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.46 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.84 dividend on an annualized basis and a yield of 0.6%. Investors Title’s dividend payout ratio (DPR) is currently 9.15%.

Insider Activity at Investors Title

In other news, Director Jr. Elton C. Parker acquired 538 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $231.00 per share, with a total value of $124,278.00. Following the transaction, the director directly owned 3,750 shares in the company, valued at approximately $866,250. The trade was a 16.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 25.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Investors Title

Institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new position in Investors Title in the 4th quarter valued at about $36,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Investors Title by 34.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock worth $48,000 after purchasing an additional 49 shares during the period. Russell Investments Group Ltd. lifted its holdings in Investors Title by 357.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 311 shares of the insurance provider’s stock worth $83,000 after purchasing an additional 243 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Investors Title by 6.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock valued at $201,000 after purchasing an additional 49 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Investors Title during the fourth quarter worth $224,000. Institutional investors and hedge funds own 41.40% of the company’s stock.

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. 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.