Investors Title (NASDAQ:ITIC) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Investors Title Company (NASDAQ:ITIC)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $244.34 and traded as high as $274.43. Investors Title shares last traded at $272.37, with a volume of 19,825 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ITIC. Wall Street Zen lowered Investors Title from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Weiss Ratings raised shares of Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

Investors Title Trading Down 0.4%

The business has a fifty day moving average price of $250.89 and a two-hundred day moving average price of $244.34. The firm has a market capitalization of $514.78 million, a PE ratio of 13.55 and a beta of 0.63.

Investors Title (NASDAQ:ITIC) last issued its quarterly earnings data on Thursday, May 7th. The insurance provider reported $3.20 earnings per share (EPS) 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 for the quarter.

Investors Title Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.46 per share. The ex-dividend date was Monday, June 15th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.7%. Investors Title’s dividend payout ratio (DPR) is currently 9.15%.

Insider Activity

In related news, Director Jr. Elton C. Parker acquired 538 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average cost of $231.00 per share, for a total transaction of $124,278.00. Following the acquisition, the director owned 3,750 shares in the company, valued at $866,250. The trade was a 16.75% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 25.96% of the company’s stock.

Institutional Trading of Investors Title

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ITIC. Caitong International Asset Management Co. Ltd acquired a new position in Investors Title during the fourth quarter worth $36,000. CANADA LIFE ASSURANCE Co boosted its position in shares of Investors Title by 34.0% during the fourth 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. grew its stake in shares of Investors Title by 357.4% in the third quarter. Russell Investments Group Ltd. now owns 311 shares of the insurance provider’s stock valued at $83,000 after buying an additional 243 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Investors Title by 6.5% in the fourth 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 stake in shares of Investors Title in the 4th quarter valued at $224,000. Hedge funds and other institutional investors 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.