Investors Title (NASDAQ:ITIC) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Investors Title Company (NASDAQ:ITIC) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $248.59 and traded as high as $295.00. Investors Title shares last traded at $289.80, with a volume of 31,827 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Investors Title from a “buy” rating to a “hold” rating in a research note on Wednesday. Weiss Ratings upgraded shares of Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Investors Title Stock Performance

The company has a fifty day simple moving average of $268.47 and a two-hundred day simple moving average of $248.83. The stock has a market capitalization of $558.36 million, a price-to-earnings ratio of 14.70 and a beta of 0.63.

Investors Title (NASDAQ:ITIC) last released its earnings results on Thursday, August 6th. The insurance provider reported $7.73 EPS for the quarter. The firm had revenue of $81.71 million for the quarter. Investors Title had a net margin of 13.59% and a return on equity of 14.03%.

Investors Title Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.46 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.84 annualized dividend and a yield of 0.6%. Investors Title’s dividend payout ratio (DPR) is 9.15%.

Insider Activity

In related news, Director Jr. Elton C. Parker purchased 538 shares of the firm’s stock in a transaction that occurred 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 acquisition, the director owned 3,750 shares of the company’s stock, valued at $866,250. This trade represents a 16.75% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 25.96% of the company’s stock.

Institutional Investors Weigh In On Investors Title

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co raised its position in shares of Investors Title by 34.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock worth $48,000 after acquiring an additional 49 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Investors Title by 6.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock valued at $201,000 after purchasing an additional 49 shares in the last quarter. Invesco Ltd. increased its position in Investors Title by 4.0% in the 2nd quarter. Invesco Ltd. now owns 1,622 shares of the insurance provider’s stock valued at $343,000 after buying an additional 63 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Investors Title by 2.3% in the 1st quarter. Royal Bank of Canada now owns 3,937 shares of the insurance provider’s stock worth $949,000 after purchasing an additional 88 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Investors Title by 1.9% during the third quarter. First Trust Advisors LP now owns 4,839 shares of the insurance provider’s stock worth $1,296,000 after buying an additional 90 shares during the last quarter. Institutional investors 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. 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.