Investors Title (NASDAQ:ITIC) Sees Strong Trading Volume – Still a Buy?

Investors Title Company (NASDAQ:ITIC) shares saw an uptick in trading volume on Friday . Approximately 35,074 shares were traded during mid-day trading, an increase of 54% from the previous session’s volume of 22,785 shares.The stock last traded at $269.60 and had previously closed at $265.09.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Investors Title from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Investors Title has an average rating of “Buy”.

Investors Title Trading Up 1.0%

The firm has a market cap of $506.27 million, a PE ratio of 13.43 and a beta of 0.65. The company has a 50-day simple moving average of $243.49 and a 200 day simple moving average of $242.40.

Investors Title (NASDAQ:ITIC) last posted its earnings results on Thursday, May 7th. The insurance provider reported $3.20 earnings per share for the quarter. Investors Title had a net margin of 13.59% and a return on equity of 14.03%. The firm had revenue of $63.49 million during the quarter.

Investors Title Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.84 dividend on an annualized basis and a yield of 0.7%. Investors Title’s payout ratio is presently 9.15%.

Insider Buying and Selling at Investors Title

In other news, Director Jr. Elton C. Parker bought 538 shares of the stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $231.00 per share, with a total value of $124,278.00. Following the purchase, the director directly owned 3,750 shares in the company, valued at $866,250. The trade was a 16.75% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 25.96% of the company’s stock.

Hedge Funds Weigh In On Investors Title

A number of large investors have recently bought and sold shares of ITIC. Caitong International Asset Management Co. Ltd purchased a new position in Investors Title during the fourth quarter worth approximately $36,000. CANADA LIFE ASSURANCE Co raised its stake in shares of Investors Title by 34.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock worth $48,000 after buying an additional 49 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Investors Title by 357.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 311 shares of the insurance provider’s stock worth $83,000 after buying an additional 243 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Investors Title by 6.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock valued at $201,000 after buying an additional 49 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Investors Title during the 4th quarter valued at approximately $224,000. 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. It offers services in connection with tax-deferred exchanges of like-kind property; acts as a qualified intermediary in tax-deferred exchanges of property; coordinates the exchange aspects of the real estate transaction, such as drafting standard exchange documents, holding the exchange funds between the sale of the old property and the purchase of the new property, and accepting the formal identification of the replacement property.