Investors Title (NASDAQ:ITIC) Releases Earnings Results

Investors Title (NASDAQ:ITIC) posted its earnings results on Wednesday. The insurance provider reported $6.45 earnings per share for the quarter, Zacks reports. The firm had revenue of $73.02 million during the quarter. Investors Title had a net margin of 12.28% and a return on equity of 12.70%.

Investors Title Price Performance

Shares of Investors Title stock traded up $3.58 during trading on Friday, hitting $278.12. 22,889 shares of the stock were exchanged, compared to its average volume of 32,674. The firm’s 50-day moving average price is $259.48 and its 200 day moving average price is $234.99. The stock has a market cap of $525.08 million, a price-to-earnings ratio of 15.95 and a beta of 0.87. Investors Title has a 12-month low of $190.20 and a 12-month high of $290.40.

Investors Title Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 2nd. Investors Title’s dividend payout ratio is presently 10.53%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Investors Title in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy”.

Institutional Investors Weigh In On Investors Title

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Brevan Howard Capital Management LP acquired a new position in shares of Investors Title in the second quarter worth $240,000. Quantinno Capital Management LP bought a new position in Investors Title during the second quarter worth $294,000. Invesco Ltd. lifted its holdings in Investors Title by 4.0% in the second quarter. Invesco Ltd. now owns 1,622 shares of the insurance provider’s stock worth $343,000 after acquiring an additional 63 shares during the last quarter. AQR Capital Management LLC boosted its position in Investors Title by 8.0% during the 1st quarter. AQR Capital Management LLC now owns 1,917 shares of the insurance provider’s stock valued at $462,000 after purchasing an additional 142 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Investors Title in the 1st quarter worth about $571,000. Institutional investors and hedge funds own 41.40% of the company’s stock.

Investors Title Company 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.