Investors Title (NASDAQ:ITIC) Shares Gap Down – What’s Next?

Investors Title Company (NASDAQ:ITIC)’s share price gapped down before the market opened on Monday . The stock had previously closed at $295.43, but opened at $285.16. Investors Title shares last traded at $284.4640, with a volume of 12,026 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Investors Title from a “buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded shares of Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy”.

Investors Title Stock Performance

The company has a 50-day moving average of $270.72 and a 200-day moving average of $249.38. The firm has a market capitalization of $534.52 million, a price-to-earnings ratio of 13.26 and a beta of 0.63.

Investors Title (NASDAQ:ITIC) last announced its earnings results on Thursday, August 6th. The insurance provider reported $7.73 EPS for the quarter. Investors Title had a net margin of 13.80% and a return on equity of 14.81%. The firm had revenue of $81.71 million for the quarter.

Investors Title Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.84 annualized dividend and a dividend yield of 0.6%. Investors Title’s dividend payout ratio is currently 8.62%.

Insider Activity at Investors Title

In related news, Director Jr. Elton C. Parker acquired 538 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of $231.00 per share, for a total transaction of $124,278.00. Following the completion of the acquisition, the director directly owned 3,750 shares in the company, valued at approximately $866,250. The trade was a 16.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 25.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Investors Title

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Investors Title in the 2nd quarter valued at about $32,062,000. Two Sigma Investments LP grew its holdings in shares of Investors Title by 18.7% during the third quarter. Two Sigma Investments LP now owns 42,303 shares of the insurance provider’s stock worth $11,330,000 after buying an additional 6,673 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Investors Title by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 36,696 shares of the insurance provider’s stock worth $9,163,000 after buying an additional 777 shares in the last quarter. State Street Corp raised its position in Investors Title by 7.6% in the 4th quarter. State Street Corp now owns 30,049 shares of the insurance provider’s stock valued at $7,501,000 after buying an additional 2,127 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Investors Title by 110.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 20,140 shares of the insurance provider’s stock valued at $5,028,000 after buying an additional 10,589 shares during the last quarter. 41.40% of the stock is owned by institutional investors and hedge funds.

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.