BidaskClub Lowers Investors Title (NASDAQ:ITIC) to Sell

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

Shares of Investors Title stock opened at $161.00 on Tuesday. 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 52-week low of $153.01 and a 52-week high of $202.85. The stock has a market cap of $291.97 million, a PE ratio of 12.05 and a beta of 0.50.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.60 annualized dividend and a yield of 0.99%.

In other Investors Title news, CFO James A. Fine, Jr. sold 987 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $156.01, for a total transaction of $153,981.87. Following the transaction, the chief financial officer now directly owns 178,880 shares in the company, valued at $27,907,068.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 27.80% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of ITIC. New York State Common Retirement Fund grew its position in Investors Title by 151.2% during the first quarter. New York State Common Retirement Fund now owns 6,270 shares of the insurance provider’s stock worth $990,000 after buying an additional 3,774 shares during the period. BlackRock Inc. grew its position 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 buying an additional 2,656 shares during the period. Two Sigma Investments LP acquired a new position in Investors Title during the fourth quarter worth about $378,000. Geode Capital Management LLC grew its position in Investors Title by 14.6% during the fourth quarter. Geode Capital Management LLC now owns 15,063 shares of the insurance provider’s stock worth $2,661,000 after buying an additional 1,923 shares during the period. Finally, Millennium Management LLC acquired a new position in Investors Title during the fourth quarter worth about $304,000. Institutional investors own 42.13% 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.

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