Investors Title (NASDAQ:ITIC – Get Free Report) 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.
Check Out Our Latest Research Report on ITIC
Investors Title Stock Up 1.8 %
Investors Title (NASDAQ:ITIC – Get Free Report) 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.
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