Investors Title (NASDAQ:ITIC) Hits New 52-Week High – Time to Buy?

Investors Title Company (NASDAQ:ITIC)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $291.44 and last traded at $289.37, with a volume of 3745 shares traded. The stock had previously closed at $283.96.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Investors Title from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Weiss Ratings raised Investors Title from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. One analyst has rated the stock with a Buy rating, According to MarketBeat, Investors Title currently has an average rating of “Buy”.

Investors Title Price Performance

The stock’s 50-day moving average price is $255.95 and its 200 day moving average price is $245.60. The firm has a market cap of $546.63 million, a P/E ratio of 14.39 and a beta of 0.63.

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

Investors Title Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, June 15th. Investors Title’s dividend payout ratio is currently 9.15%.

Insider Activity at Investors Title

In related news, Director Jr. Elton C. Parker acquired 538 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was bought at an average price of $231.00 per share, for a total transaction of $124,278.00. Following the acquisition, the director directly owned 3,750 shares of the company’s stock, valued at approximately $866,250. The trade was a 16.75% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 25.96% of the stock is currently owned by corporate insiders.

Institutional Trading of Investors Title

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd bought a new position in Investors Title in the fourth quarter valued at approximately $36,000. CANADA LIFE ASSURANCE Co raised its stake in shares of Investors Title by 34.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock worth $48,000 after purchasing an additional 49 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Investors Title by 357.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 311 shares of the insurance provider’s stock valued at $83,000 after buying an additional 243 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Investors Title by 6.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock valued at $201,000 after buying an additional 49 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Investors Title in the fourth quarter valued at $224,000. 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. 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.