Investors Title (NASDAQ:ITIC) Rating Lowered to "Hold" at StockNews.com

StockNews.com lowered shares of Investors Title (NASDAQ:ITIC - Free Report) from a buy rating to a hold rating in a research note published on Wednesday morning.

Investors Title Trading Down 1.3 %

Shares of ITIC traded down $3.15 during mid-day trading on Wednesday, reaching $236.76. The company's stock had a trading volume of 4,533 shares, compared to its average volume of 10,479. The stock has a market cap of $446.06 million, a PE ratio of 15.67 and a beta of 0.89. The company's fifty day moving average price is $257.66 and its two-hundred day moving average price is $226.57. Investors Title has a 52 week low of $146.41 and a 52 week high of $290.40.

Investors Title Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $14.46 per share. This represents a $57.84 dividend on an annualized basis and a dividend yield of 24.43%. The ex-dividend date of this dividend was Monday, December 2nd. This is a positive change from Investors Title's previous quarterly dividend of $0.46. Investors Title's dividend payout ratio is 12.18%.

Hedge Funds Weigh In On Investors Title

A number of hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of Investors Title by 187.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 3,260 shares of the insurance provider's stock worth $749,000 after purchasing an additional 2,126 shares during the period. Barclays PLC raised its stake in Investors Title by 127.2% in the third quarter. Barclays PLC now owns 2,406 shares of the insurance provider's stock worth $553,000 after buying an additional 1,347 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Investors Title by 2.5% in the third quarter. Geode Capital Management LLC now owns 33,275 shares of the insurance provider's stock worth $7,648,000 after buying an additional 809 shares during the period. Jane Street Group LLC boosted its position in Investors Title by 33.2% during the 3rd quarter. Jane Street Group LLC now owns 2,096 shares of the insurance provider's stock valued at $482,000 after acquiring an additional 523 shares in the last quarter. Finally, Centiva Capital LP purchased a new position in shares of Investors Title during the 3rd quarter worth approximately $226,000. Hedge funds and other 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.