JPMorgan Chase & Co. Sells 3,608 Shares of Investors Title Company $ITIC

JPMorgan Chase & Co. reduced its position in shares of Investors Title Company (NASDAQ:ITIC) by 73.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,273 shares of the insurance provider’s stock after selling 3,608 shares during the quarter. JPMorgan Chase & Co.’s holdings in Investors Title were worth $341,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Rhumbline Advisers boosted its position in shares of Investors Title by 2.0% during the 3rd quarter. Rhumbline Advisers now owns 2,160 shares of the insurance provider’s stock valued at $579,000 after acquiring an additional 42 shares during the last quarter. Invesco Ltd. boosted its position in shares of Investors Title by 4.0% during the 2nd quarter. Invesco Ltd. now owns 1,622 shares of the insurance provider’s stock valued at $343,000 after acquiring an additional 63 shares during the last quarter. Royal Bank of Canada boosted its position in shares of Investors Title by 2.3% during the 1st quarter. Royal Bank of Canada now owns 3,937 shares of the insurance provider’s stock valued at $949,000 after acquiring an additional 88 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Investors Title by 1.9% during the 3rd quarter. First Trust Advisors LP now owns 4,839 shares of the insurance provider’s stock valued at $1,296,000 after acquiring an additional 90 shares during the last quarter. Finally, Truist Financial Corp boosted its position in shares of Investors Title by 3.2% during the 3rd quarter. Truist Financial Corp now owns 4,280 shares of the insurance provider’s stock valued at $1,146,000 after acquiring an additional 132 shares during the last quarter. 41.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Investors Title in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Investors Title currently has an average rating of “Buy”.

Investors Title Stock Performance

NASDAQ ITIC opened at $234.06 on Wednesday. The company has a market capitalization of $442.37 million, a P/E ratio of 12.60 and a beta of 0.66. Investors Title Company has a one year low of $190.20 and a one year high of $288.98. The stock has a 50 day moving average price of $232.72 and a 200-day moving average price of $250.88.

Investors Title (NASDAQ:ITIC) last released its quarterly earnings results on Tuesday, February 17th. The insurance provider reported $3.97 earnings per share for the quarter. Investors Title had a return on equity of 13.19% and a net margin of 12.90%.The company had revenue of $69.32 million for the quarter.

Investors Title Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, March 23rd. Investors Title’s dividend payout ratio is presently 9.91%.

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.