Raymond James Financial Inc. Makes New $222,000 Investment in Investors Title (NASDAQ:ITIC)

Raymond James Financial Inc. bought a new position in shares of Investors Title (NASDAQ:ITIC) during the 4th quarter, Holdings Channel reports. The fund bought 937 shares of the insurance provider’s stock, valued at approximately $222,000.

Several other institutional investors also recently made changes to their positions in the stock. FMR LLC lifted its stake in shares of 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 period. BNP Paribas Financial Markets grew its position in Investors Title by 65.6% during the third quarter. BNP Paribas Financial Markets now owns 540 shares of the insurance provider’s stock worth $124,000 after buying an additional 214 shares during the period. SG Americas Securities LLC increased its holdings 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 buying an additional 107 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Investors Title by 225.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 650 shares of the insurance provider’s stock valued at $154,000 after acquiring an additional 450 shares during the period. Finally, Centiva Capital LP purchased a new stake in shares of Investors Title during the 3rd quarter worth approximately $226,000. 41.40% of the stock is currently owned by hedge funds and other institutional investors.

Investors Title Stock Performance

Investors Title stock opened at $224.42 on Friday. Investors Title has a fifty-two week low of $146.41 and a fifty-two week high of $290.40. The firm has a market capitalization of $423.26 million, a price-to-earnings ratio of 13.66 and a beta of 0.84. The stock’s fifty day moving average is $232.90 and its two-hundred day moving average is $240.05.

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

Investors Title Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 24th were paid a dividend of $0.46 per share. The ex-dividend date was Monday, March 24th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.82%. Investors Title’s dividend payout ratio (DPR) is 11.20%.

Analyst Ratings Changes

Separately, StockNews.com raised Investors Title from a “hold” rating to a “buy” rating in a research note on Saturday, March 22nd.

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.