Private Management Group Inc. Invests $209,000 in Investors Title (NASDAQ:ITIC)

Private Management Group Inc. acquired a new position in shares of Investors Title (NASDAQ:ITIC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,292 shares of the insurance provider’s stock, valued at approximately $209,000. Private Management Group Inc. owned 0.07% of Investors Title at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC acquired a new stake in shares of Investors Title during the fourth quarter worth approximately $97,000. Sound Income Strategies LLC acquired a new stake in shares of Investors Title during the fourth quarter worth approximately $189,000. Franklin Street Advisors Inc. NC bought a new position in Investors Title during the fourth quarter worth $203,000. DAVENPORT & Co LLC bought a new position in Investors Title during the fourth quarter worth $211,000. Finally, Blair William & Co. IL bought a new position in Investors Title during the third quarter worth $205,000. 41.40% of the stock is currently owned by hedge funds and other institutional investors.

Investors Title Trading Down 0.5 %

NASDAQ:ITIC traded down $0.83 on Wednesday, hitting $163.63. 1,176 shares of the company’s stock traded hands, compared to its average volume of 2,118. The company has a market cap of $307.62 million, a PE ratio of 14.35 and a beta of 0.89. Investors Title has a 1 year low of $127.71 and a 1 year high of $171.60. The firm has a 50-day moving average price of $158.13 and a 200-day moving average price of $155.55.

Investors Title (NASDAQ:ITIC) last issued its quarterly earnings results on Tuesday, February 13th. The insurance provider reported $3.09 EPS for the quarter. The company had revenue of $53.68 million for the quarter. Investors Title had a return on equity of 8.73% and a net margin of 9.65%.

Investors Title Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Friday, March 15th. Investors Title’s dividend payout ratio is currently 16.06%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ITIC. StockNews.com cut Investors Title from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. TheStreet raised Investors Title from a “c+” rating to a “b-” rating in a report on Wednesday, January 31st.

Investors Title 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.