Investors Title (NASDAQ:ITIC) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Investors Title Company (NASDAQ:ITIC) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $243.49 and traded as high as $244.54. Investors Title shares last traded at $243.35, with a volume of 22,359 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Investors Title from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

Investors Title Price Performance

The firm’s 50 day moving average price is $235.19 and its 200-day moving average price is $243.49. The stock has a market cap of $459.93 million, a P/E ratio of 12.11 and a beta of 0.65.

Investors Title (NASDAQ:ITIC) last issued its earnings results on Thursday, May 7th. The insurance provider reported $3.20 earnings per share (EPS) for the quarter. The firm had revenue of $63.49 million for the quarter. Investors Title had a net margin of 13.59% and a return on equity of 14.03%.

Investors Title Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, June 15th. Investors Title’s dividend payout ratio is currently 9.15%.

Insider Activity

In other news, Director Jr. Elton C. Parker bought 538 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were purchased at an average price of $231.00 per share, for a total transaction of $124,278.00. Following the completion of the purchase, the director owned 3,750 shares in the company, valued at approximately $866,250. This represents a 16.75% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 25.96% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Investors Title during the fourth quarter valued at approximately $36,000. CANADA LIFE ASSURANCE Co raised its holdings 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 valued at $48,000 after purchasing an additional 49 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Investors Title by 357.4% during the third quarter. Russell Investments Group Ltd. now owns 311 shares of the insurance provider’s stock valued at $83,000 after purchasing an additional 243 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Investors Title by 6.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock valued at $201,000 after purchasing an additional 49 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Investors Title during the fourth quarter valued at approximately $224,000. 41.40% of the stock is owned by hedge funds and other institutional investors.

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. 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.