Investors Title (NASDAQ:ITIC) Sees Significant Decrease in Short Interest

Investors Title (NASDAQ:ITIC) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 17,000 shares, a decline of 25.8% from the February 13th total of 22,900 shares. Based on an average trading volume of 10,000 shares, the short-interest ratio is currently 1.7 days. Currently, 1.2% of the shares of the stock are short sold.

Investors Title Stock Performance

Shares of Investors Title stock traded up $4.39 during trading hours on Monday, hitting $245.71. The company’s stock had a trading volume of 6,700 shares, compared to its average volume of 12,253. The business has a 50 day moving average price of $229.03 and a two-hundred day moving average price of $238.90. Investors Title has a 12-month low of $146.41 and a 12-month high of $290.40. The company has a market cap of $462.92 million, a PE ratio of 14.95 and a beta of 0.97.

Investors Title (NASDAQ:ITIC) last announced its quarterly earnings data on Thursday, February 13th. The insurance provider reported $4.41 EPS for the quarter. Investors Title had a return on equity of 11.84% and a net margin of 12.03%. The business had revenue of $70.63 million for the quarter.

Investors Title Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 24th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Monday, March 24th. This represents a $1.84 annualized dividend and a dividend yield of 0.75%. Investors Title’s dividend payout ratio (DPR) is 11.20%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Investors Title from a “buy” rating to a “hold” rating in a research report on Friday.

Institutional Investors Weigh In On Investors Title

Several large investors have recently made changes to their positions in ITIC. Mountain Hill Investment Partners Corp. bought a new stake in shares of Investors Title in the fourth quarter worth about $47,000. Meeder Asset Management Inc. increased its holdings in shares of Investors Title by 455.8% in the third quarter. Meeder Asset Management Inc. now owns 239 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 196 shares during the last quarter. FMR LLC increased its holdings in shares of Investors Title by 73.6% in the third quarter. FMR LLC now owns 479 shares of the insurance provider’s stock worth $110,000 after purchasing an additional 203 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Investors Title by 65.6% in the third quarter. BNP Paribas Financial Markets now owns 540 shares of the insurance provider’s stock worth $124,000 after purchasing an additional 214 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Investors Title by 21.0% in the fourth quarter. SG Americas Securities LLC now owns 616 shares of the insurance provider’s stock worth $146,000 after purchasing an additional 107 shares during the last quarter. 41.40% of the stock is owned by institutional investors.

Investors Title Company Profile

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.