Investors Title Company (NASDAQ:ITIC - Get Free Report) Director Jr. Elton Parker purchased 500 shares of the firm's stock in a transaction that occurred on Wednesday, November 11th. The stock was bought at an average cost of $266.00 per share, for a total transaction of $133,000.00. Following the purchase, the director owned 4,250 shares in the company, valued at $1,130,500. This represents a 13.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Investors Title Price Performance
Shares of NASDAQ:ITIC opened at $251.59 on Friday. The business's fifty day moving average price is $284.91 and its two-hundred day moving average price is $261.93. Investors Title Company has a fifty-two week low of $209.75 and a fifty-two week high of $309.55. The stock has a market capitalization of $475.51 million, a price-to-earnings ratio of 13.25 and a beta of 0.60.
Investors Title (NASDAQ:ITIC - Get Free Report) last released its quarterly earnings data on Thursday, November 5th. The insurance provider reported $4.97 earnings per share (EPS) for the quarter. The firm had revenue of $83.55 million during the quarter. Investors Title had a return on equity of 13.43% and a net margin of 12.47%.
Investors Title Dividend Announcement
The company also recently announced a special dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be issued a $19.27 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. Investors Title's dividend payout ratio is presently 9.26%.
Institutional Investors Weigh In On Investors Title
Hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc acquired a new position in Investors Title in the second quarter worth $100,000. Russell Investments Group Ltd. grew its holdings in shares of Investors Title by 6.3% during the third quarter. Russell Investments Group Ltd. now owns 962 shares of the insurance provider's stock worth $272,000 after purchasing an additional 57 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Investors Title in the second quarter valued at $290,000. Meeder Asset Management Inc. acquired a new stake in shares of Investors Title in the second quarter valued at $292,000. Finally, Deutsche Bank AG bought a new position in shares of Investors Title in the second quarter valued at about $391,000. 41.40% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Wall Street Zen lowered shares of Investors Title from a "buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Weiss Ratings lowered shares of Investors Title from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat.com, the company currently has a consensus rating of "Buy".
View Our Latest Research Report on Investors Title
Investors Title Company Profile
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Investors Title Company (NASDAQ: ITIC) is a title insurance and real estate services company headquartered in Chapel Hill, North Carolina. Through its subsidiaries, it provides title insurance that helps protect property owners and mortgage lenders against certain losses arising from defects in a property's title. The company also offers related services, including title examination and settlement support, as well as tax-deferred exchange services for real estate transactions. It distributes its products through a network of agents and its own operations in multiple U.S. states.
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