Investors Title (NASDAQ:ITIC) Short Interest Up 20.6% in March

Investors Title (NASDAQ:ITIC) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 20,500 shares, a growth of 20.6% from the February 28th total of 17,000 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average daily volume of 10,300 shares, the short-interest ratio is presently 2.0 days.

Investors Title Stock Down 6.3 %

Shares of Investors Title stock traded down $14.95 on Thursday, hitting $223.65. 2,331 shares of the company’s stock traded hands, compared to its average volume of 12,576. The stock has a market cap of $421.80 million, a P/E ratio of 13.61 and a beta of 0.97. Investors Title has a 52-week low of $146.41 and a 52-week high of $290.40. The firm’s 50-day moving average is $233.06 and its 200 day moving average is $240.40.

Investors Title (NASDAQ:ITIC) last announced its quarterly earnings results on Thursday, February 13th. The insurance provider reported $4.41 earnings per share (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 business also recently announced 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. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Monday, March 24th. Investors Title’s dividend payout ratio (DPR) is presently 11.20%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC increased its holdings in shares of Investors Title by 21.0% in the 4th 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 during the period. Martingale Asset Management L P lifted its position in shares of Investors Title by 10.8% in the third quarter. Martingale Asset Management L P now owns 1,431 shares of the insurance provider’s stock worth $329,000 after buying an additional 140 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Investors Title by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,169 shares of the insurance provider’s stock valued at $958,000 after purchasing an additional 142 shares during the last quarter. Barclays PLC lifted its position in Investors Title by 6.1% during the 4th quarter. Barclays PLC now owns 2,553 shares of the insurance provider’s stock worth $604,000 after acquiring an additional 147 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Investors Title by 20.1% during the fourth quarter. Wells Fargo & Company MN now owns 1,127 shares of the insurance provider’s stock worth $267,000 after acquiring an additional 189 shares during the period. 41.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Investors Title from a “hold” rating to a “buy” rating in a research report on Saturday, March 22nd.

About Investors Title

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.