Investors Title (NASDAQ:ITIC) Rating Increased to Buy at Wall Street Zen

Investors Title (NASDAQ:ITIC) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.

Separately, Weiss Ratings upgraded shares of Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Investors Title currently has an average rating of “Buy”.

Investors Title Trading Up 1.3%

Shares of ITIC stock traded up $3.63 during mid-day trading on Friday, reaching $276.00. The stock had a trading volume of 33,127 shares, compared to its average volume of 61,023. The company has a market cap of $521.64 million, a P/E ratio of 13.73 and a beta of 0.63. Investors Title has a 12-month low of $199.15 and a 12-month high of $288.98. The business has a 50-day simple moving average of $251.64 and a 200 day simple moving average of $244.56.

Investors Title (NASDAQ:ITIC) last released its quarterly earnings data on Thursday, May 7th. The insurance provider reported $3.20 EPS for the quarter. Investors Title had a net margin of 13.59% and a return on equity of 14.03%. The business had revenue of $63.49 million for the quarter.

Insider Transactions at Investors Title

In other news, Director Jr. Elton C. Parker purchased 538 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were bought at an average cost of $231.00 per share, with a total value of $124,278.00. Following the purchase, the director directly owned 3,750 shares of the company’s stock, valued at approximately $866,250. This trade represents a 16.75% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 25.96% of the company’s stock.

Institutional Trading of Investors Title

A number of hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its holdings in Investors Title by 2.3% in 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. AQR Capital Management LLC grew its position in shares of Investors Title by 8.0% in the first 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. Jane Street Group LLC acquired a new position in Investors Title in the first quarter valued at $571,000. Invesco Ltd. lifted its position in Investors Title by 4.0% during the second quarter. Invesco Ltd. now owns 1,622 shares of the insurance provider’s stock worth $343,000 after buying an additional 63 shares during the period. Finally, First Trust Advisors LP lifted its position in Investors Title by 4.2% during the second quarter. First Trust Advisors LP now owns 4,749 shares of the insurance provider’s stock worth $1,003,000 after buying an additional 190 shares during the period. Institutional investors and hedge funds own 41.40% of the company’s stock.

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.