Renaissance Technologies LLC Trims Holdings in Investors Title (NASDAQ:ITIC)

Renaissance Technologies LLC decreased its holdings in Investors Title (NASDAQ:ITIC - Free Report) by 16.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,047 shares of the insurance provider's stock after selling 4,853 shares during the quarter. Renaissance Technologies LLC owned 1.28% of Investors Title worth $5,693,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Mountain Hill Investment Partners Corp. acquired a new position in shares of Investors Title during the 4th quarter worth approximately $47,000. FMR LLC raised its position in 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 period. SG Americas Securities LLC lifted its holdings 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. Nisa Investment Advisors LLC increased its stake in shares of Investors Title by 225.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 650 shares of the insurance provider's stock worth $154,000 after purchasing an additional 450 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Investors Title during the 4th quarter worth about $222,000. Hedge funds and other institutional investors own 41.40% of the company's stock.

Analyst Ratings Changes

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

Investors Title Stock Down 0.7 %

Shares of Investors Title stock traded down $1.61 during trading hours on Thursday, reaching $230.50. 5,718 shares of the company's stock were exchanged, compared to its average volume of 12,916. The business has a fifty day moving average of $233.24 and a two-hundred day moving average of $240.06. The company has a market capitalization of $502.03 million, a P/E ratio of 13.91 and a beta of 0.84. Investors Title has a 1 year low of $146.41 and a 1 year high of $290.40.

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

Investors Title Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 24th were given a dividend of $0.46 per share. The ex-dividend date was Monday, March 24th. This represents a $1.84 annualized dividend and a dividend yield of 0.80%. Investors Title's payout ratio 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.