Bank of New York Mellon Corp Buys 2,648 Shares of Investors Title (NASDAQ:ITIC)

Bank of New York Mellon Corp increased its stake in shares of Investors Title (NASDAQ:ITIC - Free Report) by 21.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,721 shares of the insurance provider's stock after acquiring an additional 2,648 shares during the quarter. Bank of New York Mellon Corp owned about 0.78% of Investors Title worth $3,485,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ITIC. Meeder Asset Management Inc. boosted its position in shares of Investors Title by 455.8% during the third quarter. Meeder Asset Management Inc. now owns 239 shares of the insurance provider's stock worth $55,000 after acquiring an additional 196 shares during the last quarter. FMR LLC boosted its position in shares of Investors Title by 73.6% during the third quarter. FMR LLC now owns 479 shares of the insurance provider's stock worth $110,000 after acquiring an additional 203 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Investors Title by 65.6% during the third quarter. BNP Paribas Financial Markets now owns 540 shares of the insurance provider's stock worth $124,000 after acquiring an additional 214 shares during the last quarter. SG Americas Securities LLC raised its stake in Investors Title by 21.0% during the fourth quarter. SG Americas Securities LLC now owns 616 shares of the insurance provider's stock valued at $146,000 after purchasing an additional 107 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Investors Title by 225.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 650 shares of the insurance provider's stock valued at $154,000 after purchasing an additional 450 shares in the last quarter. Institutional investors own 41.40% of the company's stock.

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Investors Title Stock Down 2.1 %

Investors Title stock traded down $5.11 during mid-day trading on Friday, reaching $237.43. 9,683 shares of the company's stock traded hands, compared to its average volume of 12,461. The company has a market cap of $447.79 million, a price-to-earnings ratio of 14.45 and a beta of 0.97. The stock has a 50 day moving average of $230.64 and a two-hundred day moving average of $239.42. Investors Title has a 12-month low of $146.41 and a 12-month high of $290.40.

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

Investors Title Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 24th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Monday, March 24th. Investors Title's dividend payout ratio is currently 11.20%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Investors Title from a "hold" rating to a "buy" rating in a research note on Saturday.

Investors Title 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.