American Century Companies Inc. Has $2.55 Million Holdings in Investors Title (NASDAQ:ITIC)

American Century Companies Inc. lifted its stake in shares of Investors Title (NASDAQ:ITIC - Free Report) by 27.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,788 shares of the insurance provider's stock after purchasing an additional 2,303 shares during the quarter. American Century Companies Inc. owned about 0.57% of Investors Title worth $2,554,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp increased its position in Investors Title by 21.9% during the 4th quarter. Bank of New York Mellon Corp now owns 14,721 shares of the insurance provider's stock worth $3,485,000 after purchasing an additional 2,648 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Investors Title by 187.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,260 shares of the insurance provider's stock valued at $749,000 after buying an additional 2,126 shares during the period. Virtu Financial LLC purchased a new stake in Investors Title during the 4th quarter worth $410,000. Trust Co of the South purchased a new position in Investors Title in the fourth quarter valued at about $322,000. Finally, Barclays PLC raised its holdings in Investors Title by 127.2% in the third quarter. Barclays PLC now owns 2,406 shares of the insurance provider's stock valued at $553,000 after acquiring an additional 1,347 shares in the last quarter. Institutional investors and hedge funds own 41.40% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Investors Title from a "hold" rating to a "buy" rating in a research note on Saturday, March 22nd.

Investors Title Price Performance

ITIC traded down $2.77 during trading hours on Friday, hitting $224.42. 4,560 shares of the stock were exchanged, compared to its average volume of 12,749. The stock has a market cap of $423.26 million, a price-to-earnings ratio of 13.66 and a beta of 0.84. Investors Title has a 12 month low of $146.41 and a 12 month high of $290.40. The stock has a 50-day simple moving average of $232.90 and a 200-day simple moving average of $240.05.

Investors Title (NASDAQ:ITIC - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The insurance provider reported $4.41 earnings per share (EPS) for the quarter. Investors Title had a return on equity of 11.84% and a net margin of 12.03%. The business had revenue of $70.63 million for the quarter.

Investors Title Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 24th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, March 24th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.82%. Investors Title's dividend payout ratio (DPR) is 11.20%.

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.