BidaskClub Upgrades Investors Title (ITIC) to “Buy”

BidaskClub upgraded shares of Investors Title (NASDAQ:ITIC) from a hold rating to a buy rating in a research note published on Wednesday, November 21st.

Shares of NASDAQ ITIC traded down $2.10 during midday trading on Wednesday, hitting $184.90. The stock had a trading volume of 7,966 shares, compared to its average volume of 6,221. The firm has a market capitalization of $351.06 million, a P/E ratio of 13.62 and a beta of 0.43. Investors Title has a 1-year low of $156.00 and a 1-year high of $221.88.

Investors Title (NASDAQ:ITIC) last released its quarterly earnings results on Friday, November 2nd. The insurance provider reported $5.61 EPS for the quarter. Investors Title had a return on equity of 14.11% and a net margin of 19.07%. The firm had revenue of $48.26 million for the quarter.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.87%.

Several hedge funds and other institutional investors have recently modified their holdings of ITIC. First Trust Advisors LP increased its holdings in shares of Investors Title by 25.2% in the 3rd quarter. First Trust Advisors LP now owns 2,035 shares of the insurance provider’s stock valued at $342,000 after acquiring an additional 409 shares during the last quarter. UBS Group AG grew its stake in Investors Title by 99.0% during the 1st quarter. UBS Group AG now owns 1,835 shares of the insurance provider’s stock worth $366,000 after buying an additional 913 shares during the last quarter. California Public Employees Retirement System grew its stake in Investors Title by 6.0% during the 2nd quarter. California Public Employees Retirement System now owns 5,420 shares of the insurance provider’s stock worth $1,001,000 after buying an additional 307 shares during the last quarter. Bank of America Corp DE grew its stake in Investors Title by 906.4% during the 2nd quarter. Bank of America Corp DE now owns 5,545 shares of the insurance provider’s stock worth $1,023,000 after buying an additional 4,994 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Investors Title by 4.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,734 shares of the insurance provider’s stock worth $1,428,000 after buying an additional 333 shares during the last quarter. Institutional investors and hedge funds own 42.50% of the company’s stock.

Investors Title Company Profile

Investors Title Company, through its subsidiaries, provides 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.

See Also: Diversification

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