Investors Title (NASDAQ:ITIC) Issues Quarterly Earnings Results

Investors Title (NASDAQ:ITIC) posted its quarterly earnings data on Thursday. The insurance provider reported $4.97 earnings per share for the quarter, FiscalAI reports. Investors Title had a return on equity of 14.62% and a net margin of 13.80%. The firm had revenue of $83.55 million for the quarter.

Investors Title Price Performance

Investors Title stock traded down $7.59 during mid-day trading on Thursday, reaching $261.30. 55,259 shares of the company were exchanged, compared to its average volume of 52,817. The firm has a market cap of $493.86 million, a PE ratio of 12.59 and a beta of 0.60. The company has a fifty day simple moving average of $288.54 and a 200-day simple moving average of $261.76. Investors Title has a 12 month low of $209.75 and a 12 month high of $309.55.

Investors Title Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, September 1st. Investors Title’s dividend payout ratio (DPR) is 8.62%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Investors Title during the 2nd quarter worth approximately $32,062,000. Aristides Capital LLC raised its position in Investors Title by 13.6% during the first quarter. Aristides Capital LLC now owns 18,953 shares of the insurance provider’s stock valued at $4,119,000 after purchasing an additional 2,273 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Investors Title during the second quarter valued at approximately $3,588,000. Bank of America Corp DE acquired a new position in Investors Title during the second quarter valued at approximately $1,554,000. Finally, GSA Capital Partners LLP bought a new stake in Investors Title during the second quarter worth $777,000. Institutional investors and hedge funds own 41.40% of the company’s stock.

About Investors Title

Investors Title Company (NASDAQ: ITIC) is an insurance and real estate services company headquartered in Chapel Hill, North Carolina. Founded in 1972, the company provides title insurance and related services that help protect property owners and lenders against losses arising from defects, claims, or other issues affecting real estate ownership.

Through its title insurance subsidiaries, including Investors Title Insurance Company and National Investors Title Insurance Company, the company offers lender’s and owner’s title insurance policies.