Investors Title (NASDAQ:ITIC) Director Acquires $133,000.00 in Stock

Investors Title Company (NASDAQ:ITIC) Director Jr. Elton Parker acquired 500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 11th. The shares were bought at an average price of $266.00 per share, for a total transaction of $133,000.00. Following the completion of the purchase, the director owned 4,250 shares in the company, valued at $1,130,500. This trade represents a 13.33% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Investors Title Stock Down 1.8%

ITIC traded down $4.66 during trading on Thursday, reaching $258.65. 8,328 shares of the company were exchanged, compared to its average volume of 38,973. The company’s 50-day moving average is $285.71 and its two-hundred day moving average is $261.96. The company has a market cap of $488.86 million, a price-to-earnings ratio of 13.01 and a beta of 0.60. Investors Title Company has a 12-month low of $209.75 and a 12-month high of $309.55.

Investors Title (NASDAQ:ITIC) last posted its earnings results on Thursday, November 5th. The insurance provider reported $4.97 earnings per share for the quarter. Investors Title had a return on equity of 13.64% and a net margin of 12.47%. The business had revenue of $83.55 million during the quarter.

Investors Title Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be paid a dividend of $19.27 per share. The ex-dividend date of this dividend is Tuesday, December 1st. Investors Title’s payout ratio is currently 9.26%.

Analyst Ratings Changes

ITIC has been the topic of several recent analyst reports. Weiss Ratings cut Investors Title from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday, November 3rd. Wall Street Zen lowered Investors Title from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating. According to MarketBeat, the stock presently has an average rating of “Buy”.

Institutional Trading of Investors Title

A number of institutional investors have recently modified their holdings of ITIC. Russell Investments Group Ltd. boosted its holdings in shares of Investors Title by 6.3% during the third quarter. Russell Investments Group Ltd. now owns 962 shares of the insurance provider’s stock worth $272,000 after purchasing an additional 57 shares during the period. Legal & General Group Plc purchased a new stake in Investors Title in the 2nd quarter worth approximately $100,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Investors Title in the 2nd quarter worth approximately $290,000. Meeder Asset Management Inc. bought a new stake in shares of Investors Title in the 2nd quarter worth approximately $292,000. Finally, Deutsche Bank AG bought a new stake in shares of Investors Title in the 2nd quarter worth approximately $391,000. 41.40% of the stock is currently owned by hedge funds and other institutional investors.

About Investors Title

Investors Title Company (NASDAQ: ITIC) is a title insurance and real estate services company headquartered in Chapel Hill, North Carolina. Through its subsidiaries, it provides title insurance that helps protect property owners and mortgage lenders against certain losses arising from defects in a property’s title. The company also offers related services, including title examination and settlement support, as well as tax-deferred exchange services for real estate transactions. It distributes its products through a network of agents and its own operations in multiple U.S. states.