Investors Title (NASDAQ:ITIC) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Investors Title Company (NASDAQ:ITIC)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $246.29 and traded as high as $256.10. Investors Title shares last traded at $249.75, with a volume of 13,653 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Investors Title in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Investors Title has a consensus rating of “Buy”.

Investors Title Stock Performance

The stock has a fifty day simple moving average of $261.56 and a two-hundred day simple moving average of $246.29. The stock has a market capitalization of $471.53 million, a price-to-earnings ratio of 13.14 and a beta of 0.66.

Investors Title (NASDAQ:ITIC) last announced its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $6.45 earnings per share (EPS) for the quarter. Investors Title had a return on equity of 13.72% and a net margin of 13.15%.The company had revenue of $70.97 million for the quarter.

Investors Title Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a $0.46 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.84 annualized dividend and a yield of 0.7%. Investors Title’s payout ratio is 9.68%.

Institutional Trading of Investors Title

Large investors have recently modified their holdings of the stock. AlphaQuest LLC acquired a new position in shares of Investors Title during the 2nd quarter valued at $27,000. Russell Investments Group Ltd. grew its holdings in Investors Title by 357.4% in the third quarter. Russell Investments Group Ltd. now owns 311 shares of the insurance provider’s stock worth $83,000 after purchasing an additional 243 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Investors Title in the second quarter valued at $224,000. Brevan Howard Capital Management LP bought a new stake in Investors Title in the second quarter valued at $240,000. Finally, Franklin Resources Inc. acquired a new position in shares of Investors Title during the third quarter valued at about $242,000. 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.