Investors Title (NASDAQ:ITIC) Sees Strong Trading Volume – Still a Buy?

Investors Title Company (NASDAQ:ITIC) shares saw unusually-strong trading volume on Friday . 35,074 shares changed hands during trading, an increase of 54% from the previous session’s volume of 22,785 shares.The stock last traded at $269.60 and had previously closed at $265.09.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded 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 MarketBeat.com, the stock has a consensus rating of “Buy”.

Investors Title Trading Up 3.5%

The business’s fifty day moving average price is $244.31 and its 200 day moving average price is $242.62. The firm has a market capitalization of $518.31 million, a price-to-earnings ratio of 13.64 and a beta of 0.65.

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

Investors Title Announces Dividend

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

Insider Transactions at Investors Title

In related news, Director Jr. Elton C. Parker acquired 538 shares of Investors Title stock in a transaction on Wednesday, May 13th. The stock was purchased at an average cost of $231.00 per share, with a total value of $124,278.00. Following the purchase, the director directly owned 3,750 shares in the company, valued at approximately $866,250. The trade was a 16.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 25.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ITIC. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Investors Title during the fourth quarter worth $36,000. CANADA LIFE ASSURANCE Co increased its stake in Investors Title by 34.0% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 193 shares of the insurance provider’s stock valued at $48,000 after buying an additional 49 shares during the period. Russell Investments Group Ltd. increased its stake in 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 period. Price T Rowe Associates Inc. MD raised its position in Investors Title by 6.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 803 shares of the insurance provider’s stock worth $201,000 after buying an additional 49 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Investors Title in the 4th quarter worth $224,000. Institutional investors and hedge funds own 41.40% of the company’s stock.

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.