Investors Title (NASDAQ:ITIC) Director Jr. Elton Parker Purchases 500 Shares of Company Stock

Investors Title Company (NASDAQ:ITIC) Director Jr. Elton Parker purchased 500 shares of Investors Title stock in a transaction on Wednesday, November 11th. The stock was bought at an average cost of $266.00 per share, with a total value of $133,000.00. Following the completion of the acquisition, the director owned 4,250 shares in the company, valued at approximately $1,130,500. This trade represents a 13.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Investors Title Stock Performance

NASDAQ:ITIC opened at $251.59 on Friday. The firm’s 50-day moving average is $284.91 and its 200-day moving average is $261.93. Investors Title Company has a 52-week low of $209.75 and a 52-week high of $309.55. The company has a market cap of $475.51 million, a price-to-earnings ratio of 13.25 and a beta of 0.60.

Investors Title (NASDAQ:ITIC) last announced its quarterly earnings data on Thursday, November 5th. The insurance provider reported $4.97 EPS for the quarter. Investors Title had a net margin of 12.47% and a return on equity of 13.43%. The business had revenue of $83.55 million during the quarter.

Investors Title Dividend Announcement

The company also recently declared a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a dividend of $19.27 per share. The ex-dividend date is Tuesday, December 1st. Investors Title’s payout ratio is currently 9.26%.

Analyst Upgrades and Downgrades

A number of analysts have commented on ITIC shares. Weiss Ratings downgraded Investors Title from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, November 3rd. Wall Street Zen cut Investors Title from a “buy” rating to a “hold” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Hedge Funds Weigh In On Investors Title

Hedge funds and other institutional investors have recently made changes to their positions in the business. First Trust Advisors LP boosted its position in shares of Investors Title by 30.7% during the 3rd quarter. First Trust Advisors LP now owns 6,803 shares of the insurance provider’s stock valued at $1,925,000 after acquiring an additional 1,599 shares in the last quarter. Russell Investments Group Ltd. raised its position in Investors Title by 6.3% in the third quarter. Russell Investments Group Ltd. now owns 962 shares of the insurance provider’s stock worth $272,000 after purchasing an additional 57 shares in the last quarter. Engineers Gate Manager LP lifted its stake in Investors Title by 137.6% during the second quarter. Engineers Gate Manager LP now owns 2,801 shares of the insurance provider’s stock worth $767,000 after purchasing an additional 1,622 shares during the period. Bank of America Corp DE bought a new position in Investors Title during the second quarter worth about $1,554,000. Finally, Legal & General Group Plc bought a new position in Investors Title during the second quarter worth about $100,000. 41.40% of the stock is owned by institutional investors.

About Investors Title

Investors Title Company (NASDAQ: ITIC) is a title insurance and real estate services company headquartered in Chapel Hill, North Carolina. Through its subsidiaries, it provides title insurance that helps protect property owners and mortgage lenders against certain losses arising from defects in a property’s title. The company also offers related services, including title examination and settlement support, as well as tax-deferred exchange services for real estate transactions. It distributes its products through a network of agents and its own operations in multiple U.S. states.