Key Points
- Director Jr. Elton Parker bought 538 shares of Investors Title stock for $124,278, increasing his holdings by 16.75% to 3,750 shares.
- The company’s stock was down 2.0% to $232, after trading between a 12-month low of $190.20 and high of $288.98.
- Investors Title recently reported Q1 earnings of $3.20 per share on revenue of $63.49 million, and it also paid a quarterly dividend of $0.46 per share.
Investors Title Company (NASDAQ:ITIC - Get Free Report) Director Jr. Elton Parker acquired 538 shares of the business's stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased 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 in the company, valued at approximately $866,250. This trade represents a 16.75% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Investors Title Trading Down 2.0%
ITIC stock opened at $232.00 on Thursday. The company has a market capitalization of $438.48 million, a PE ratio of 11.54 and a beta of 0.67. Investors Title Company has a 12-month low of $190.20 and a 12-month high of $288.98. The business's fifty day moving average price is $228.71 and its 200 day moving average price is $247.50.
Investors Title (NASDAQ:ITIC - Get Free Report) last posted 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 for the quarter. Investors Title had a return on equity of 14.03% and a net margin of 13.59%.
Investors Title Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, March 23rd. Investors Title's payout ratio is currently 9.15%.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reissued a "buy (b)" rating on shares of Investors Title in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy".
Get Our Latest Report on Investors Title
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new position in shares of Investors Title during the 4th quarter worth about $36,000. Invesco Ltd. boosted its position in shares of Investors Title by 30.7% during the 4th quarter. Invesco Ltd. now owns 4,027 shares of the insurance provider's stock worth $1,005,000 after acquiring an additional 945 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Investors Title during the 4th quarter worth about $226,000. AQR Capital Management LLC boosted its position in shares of Investors Title by 8.3% during the 4th quarter. AQR Capital Management LLC now owns 1,838 shares of the insurance provider's stock worth $459,000 after acquiring an additional 141 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Investors Title by 7.3% during the 4th quarter. Lazard Asset Management LLC now owns 5,863 shares of the insurance provider's stock worth $1,464,000 after acquiring an additional 400 shares in the last quarter. 41.40% of the stock is owned by institutional investors and hedge funds.
Investors Title Company Profile
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Get Free Report)
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.
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