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

StockNews.com cut shares of Investors Title (NASDAQ:ITIC - Free Report) from a buy rating to a hold rating in a report published on Thursday.

Investors Title Price Performance

Investors Title stock traded up $1.89 during midday trading on Thursday, reaching $274.78. The company had a trading volume of 14,006 shares, compared to its average volume of 10,691. The company has a market capitalization of $516.59 million, a P/E ratio of 18.19 and a beta of 0.85. Investors Title has a 12-month low of $141.41 and a 12-month high of $283.27. The firm's fifty day simple moving average is $234.24 and its 200-day simple moving average is $203.03.

Investors Title Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $14.46 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $57.84 dividend on an annualized basis and a dividend yield of 21.05%. This is an increase from Investors Title's previous quarterly dividend of $0.46. Investors Title's dividend payout ratio (DPR) is currently 12.18%.

Hedge Funds Weigh In On Investors Title

Several institutional investors have recently modified their holdings of ITIC. Martingale Asset Management L P increased its stake in Investors Title by 10.8% in the 3rd quarter. Martingale Asset Management L P now owns 1,431 shares of the insurance provider's stock valued at $329,000 after buying an additional 140 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Investors Title by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,169 shares of the insurance provider's stock valued at $958,000 after buying an additional 142 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Investors Title by 36.1% during the first quarter. BNP Paribas Financial Markets now owns 637 shares of the insurance provider's stock valued at $104,000 after purchasing an additional 169 shares during the period. Rhumbline Advisers raised its stake in shares of Investors Title by 9.1% during the second quarter. Rhumbline Advisers now owns 2,088 shares of the insurance provider's stock valued at $376,000 after purchasing an additional 174 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Investors Title by 4.2% in the first quarter. Empowered Funds LLC now owns 4,302 shares of the insurance provider's stock worth $702,000 after buying an additional 175 shares during the last quarter. Institutional investors and hedge funds 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.