Investors Title (NASDAQ:ITIC) Short Interest Update

Investors Title (NASDAQ:ITIC - Get Free Report) was the recipient of a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 26,700 shares, a growth of 8.1% from the November 30th total of 24,700 shares. Approximately 1.9% of the company's shares are short sold. Based on an average daily trading volume, of 11,200 shares, the short-interest ratio is presently 2.4 days.

Investors Title Price Performance

NASDAQ ITIC traded down $3.15 during trading hours on Wednesday, hitting $236.76. The company had a trading volume of 4,533 shares, compared to its average volume of 10,479. The firm's 50 day moving average is $257.66 and its 200 day moving average is $226.57. Investors Title has a fifty-two week low of $146.41 and a fifty-two week high of $290.40. The company has a market capitalization of $446.06 million, a price-to-earnings ratio of 15.67 and a beta of 0.89.

Investors Title Increases Dividend

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

Hedge Funds Weigh In On Investors Title

Several hedge funds and other institutional investors have recently bought and sold shares of ITIC. JPMorgan Chase & Co. grew its position in Investors Title by 187.5% in the third quarter. JPMorgan Chase & Co. now owns 3,260 shares of the insurance provider's stock valued at $749,000 after acquiring an additional 2,126 shares in the last quarter. Barclays PLC grew its holdings in Investors Title by 127.2% during the 3rd quarter. Barclays PLC now owns 2,406 shares of the insurance provider's stock valued at $553,000 after purchasing an additional 1,347 shares in the last quarter. PDT Partners LLC purchased a new stake in Investors Title during the 3rd quarter worth $267,000. Canal Capital Management LLC acquired a new position in Investors Title in the 3rd quarter worth $230,000. Finally, Centiva Capital LP purchased a new position in Investors Title in the 3rd quarter valued at about $226,000. 41.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.