Investors Title (NASDAQ:ITIC) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Investors Title (NASDAQ:ITIC) from a hold rating to a sell rating in a report published on Tuesday morning, BidAskClub reports.

Shares of ITIC opened at $156.91 on Tuesday. The company has a market capitalization of $298.39 million, a PE ratio of 12.31 and a beta of 0.54. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.03. Investors Title has a 12 month low of $153.01 and a 12 month high of $202.85. The business’s 50-day simple moving average is $161.13.

Investors Title (NASDAQ:ITIC) last announced its quarterly earnings results on Friday, May 3rd. The insurance provider reported $3.49 EPS for the quarter. The firm had revenue of $39.95 million during the quarter. Investors Title had a net margin of 14.99% and a return on equity of 13.16%.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, June 13th.

A number of institutional investors and hedge funds have recently made changes to their positions in ITIC. Rhumbline Advisers lifted its stake in Investors Title by 40.3% during the fourth quarter. Rhumbline Advisers now owns 1,955 shares of the insurance provider’s stock worth $345,000 after purchasing an additional 562 shares during the period. First Trust Advisors LP lifted its stake in Investors Title by 18.5% during the fourth quarter. First Trust Advisors LP now owns 2,412 shares of the insurance provider’s stock worth $426,000 after purchasing an additional 377 shares during the period. BlackRock Inc. lifted its stake in Investors Title by 2.5% during the fourth quarter. BlackRock Inc. now owns 109,408 shares of the insurance provider’s stock worth $19,329,000 after purchasing an additional 2,656 shares during the period. Bank of New York Mellon Corp lifted its stake in Investors Title by 1.4% during the fourth quarter. Bank of New York Mellon Corp now owns 7,490 shares of the insurance provider’s stock worth $1,323,000 after purchasing an additional 103 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Investors Title by 14.6% in the fourth quarter. Geode Capital Management LLC now owns 15,063 shares of the insurance provider’s stock valued at $2,661,000 after acquiring an additional 1,923 shares during the last quarter. Hedge funds and other institutional investors own 42.13% of the company’s stock.

About Investors Title

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.

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