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

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

ITIC opened at $156.91 on Tuesday. The stock’s fifty day simple moving average is $161.13. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.03. Investors Title has a 52 week low of $153.01 and a 52 week high of $202.85. The firm has a market cap of $298.39 million, a price-to-earnings ratio of 12.31 and a beta of 0.54.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued 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 added to or reduced their stakes in the business. Bank of New York Mellon Corp grew its holdings in Investors Title by 1.4% during the 4th quarter. Bank of New York Mellon Corp now owns 7,490 shares of the insurance provider’s stock worth $1,323,000 after acquiring an additional 103 shares during the period. Bank of America Corp DE grew its holdings in Investors Title by 2.5% during the 4th quarter. Bank of America Corp DE now owns 6,152 shares of the insurance provider’s stock worth $1,088,000 after acquiring an additional 152 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Investors Title by 722.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 288 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 253 shares during the period. Steinberg Global Asset Management grew its holdings in shares of Investors Title by 20.0% in the 1st quarter. Steinberg Global Asset Management now owns 1,800 shares of the insurance provider’s stock valued at $360,000 after buying an additional 300 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Investors Title by 18.5% in the 4th quarter. First Trust Advisors LP now owns 2,412 shares of the insurance provider’s stock valued at $426,000 after buying an additional 377 shares during the period. 42.13% of the stock is owned by hedge funds and other institutional investors.

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.

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