Investors Title (NASDAQ:ITIC) Stock Crosses Above 200 Day Moving Average – What’s Next?

Investors Title Company (NASDAQ:ITIC)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $242.63 and traded as high as $255.99. Investors Title shares last traded at $254.02, with a volume of 81,913 shares.

Analyst Upgrades and Downgrades

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

Investors Title Price Performance

The stock has a market capitalization of $480.10 million, a price-to-earnings ratio of 12.64 and a beta of 0.65. The business’s fifty day moving average price is $239.25 and its 200-day moving average price is $242.63.

Investors Title (NASDAQ:ITIC) last issued its quarterly earnings data 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 during the quarter. Investors Title had a net margin of 13.59% and a return on equity of 14.03%.

Investors Title Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, June 15th. Investors Title’s dividend payout ratio (DPR) is presently 9.15%.

Insider Buying and Selling at Investors Title

In other news, Director Jr. Elton C. Parker purchased 538 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were bought at an average cost of $231.00 per share, with a total value of $124,278.00. Following the completion of the transaction, the director directly owned 3,750 shares of the company’s stock, valued at approximately $866,250. This trade represents a 16.75% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 25.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Inceptionr LLC bought a new position in shares of Investors Title during the fourth quarter valued at about $265,000. Franklin Resources Inc. bought a new position in shares of Investors Title during the third quarter valued at about $242,000. Brevan Howard Capital Management LP bought a new position in shares of Investors Title during the second quarter valued at about $240,000. Engineers Gate Manager LP bought a new position in shares of Investors Title during the fourth quarter valued at about $226,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Investors Title during the fourth quarter valued at about $224,000. 41.40% of the stock is owned by 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.