Investors Title (NASDAQ:ITIC) Sees Large Decline in Short Interest

Investors Title (NASDAQ:ITIC) was the recipient of a large decline in short interest in February. As of February 28th, there was short interest totalling 17,000 shares, a decline of 25.8% from the February 13th total of 22,900 shares. Based on an average daily volume of 10,000 shares, the short-interest ratio is currently 1.7 days. Currently, 1.2% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Investors Title from a “buy” rating to a “hold” rating in a report on Friday.

Investors Title Stock Up 1.8 %

Shares of NASDAQ ITIC opened at $245.71 on Tuesday. Investors Title has a twelve month low of $146.41 and a twelve month high of $290.40. The stock’s 50 day moving average price is $229.36 and its 200-day moving average price is $239.04. The company has a market capitalization of $462.92 million, a PE ratio of 14.95 and a beta of 0.97.

Investors Title (NASDAQ:ITIC) last announced its earnings results on Thursday, February 13th. The insurance provider reported $4.41 earnings per share for the quarter. Investors Title had a return on equity of 11.84% and a net margin of 12.03%. The firm had revenue of $70.63 million for the quarter.

Investors Title Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 24th will be paid a $0.46 dividend. The ex-dividend date is Monday, March 24th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.75%. Investors Title’s payout ratio is presently 11.20%.

Hedge Funds Weigh In On Investors Title

Hedge funds and other institutional investors have recently modified their holdings of the business. Mountain Hill Investment Partners Corp. purchased a new position in shares of Investors Title in the 4th quarter worth approximately $47,000. Meeder Asset Management Inc. lifted its stake in Investors Title by 455.8% in the third quarter. Meeder Asset Management Inc. now owns 239 shares of the insurance provider’s stock valued at $55,000 after purchasing an additional 196 shares during the last quarter. FMR LLC lifted its stake in Investors Title by 73.6% in the third quarter. FMR LLC now owns 479 shares of the insurance provider’s stock valued at $110,000 after purchasing an additional 203 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Investors Title by 65.6% in the third quarter. BNP Paribas Financial Markets now owns 540 shares of the insurance provider’s stock valued at $124,000 after purchasing an additional 214 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Investors Title by 21.0% in the fourth 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 last quarter. 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.