Investors Title (NASDAQ:ITIC) Releases Quarterly Earnings Results

Investors Title (NASDAQ:ITIC) announced its quarterly earnings results on Wednesday. The insurance provider reported $6.45 EPS for the quarter, Zacks reports. Investors Title had a net margin of 12.28% and a return on equity of 12.70%.

Investors Title Trading Up 6.7%

NASDAQ:ITIC opened at $282.90 on Thursday. Investors Title has a 1 year low of $190.20 and a 1 year high of $290.40. The firm’s fifty day simple moving average is $258.91 and its 200 day simple moving average is $234.71. The firm has a market capitalization of $534.12 million, a PE ratio of 16.18 and a beta of 0.87.

Investors Title Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.46 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. Investors Title’s dividend payout ratio (DPR) is presently 10.53%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brevan Howard Capital Management LP bought a new stake in Investors Title in the 2nd quarter valued at $240,000. Quantinno Capital Management LP bought a new stake in Investors Title in the 2nd quarter valued at $294,000. Invesco Ltd. boosted its holdings in Investors Title by 4.0% in the 2nd quarter. Invesco Ltd. now owns 1,622 shares of the insurance provider’s stock valued at $343,000 after purchasing an additional 63 shares during the period. AQR Capital Management LLC boosted its holdings in Investors Title by 8.0% in the 1st quarter. AQR Capital Management LLC now owns 1,917 shares of the insurance provider’s stock valued at $462,000 after purchasing an additional 142 shares during the period. Finally, Jane Street Group LLC bought a new stake in Investors Title in the 1st quarter valued at $571,000. 41.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b)” rating on shares of Investors Title in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Investors Title presently has an average rating of “Buy”.

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.