Private Management Group Inc. Invests $209,000 in Investors Title (NASDAQ:ITIC)

Private Management Group Inc. bought a new position in shares of Investors Title (NASDAQ:ITIC) during the 4th quarter, HoldingsChannel reports. The fund bought 1,292 shares of the insurance provider’s stock, valued at approximately $209,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nisa Investment Advisors LLC acquired a new position in shares of Investors Title during the 4th quarter worth approximately $97,000. DAVENPORT & Co LLC purchased a new stake in shares of Investors Title during the 4th quarter valued at approximately $211,000. Franklin Street Advisors Inc. NC purchased a new stake in shares of Investors Title during the 4th quarter valued at approximately $203,000. Assenagon Asset Management S.A. purchased a new stake in shares of Investors Title during the 4th quarter valued at approximately $707,000. Finally, Sound Income Strategies LLC purchased a new stake in shares of Investors Title during the 4th quarter valued at approximately $189,000. 41.40% of the stock is currently owned by institutional investors and hedge funds.

Investors Title Stock Down 0.5 %

NASDAQ ITIC traded down $0.83 on Wednesday, reaching $163.63. The stock had a trading volume of 1,176 shares, compared to its average volume of 2,118. The firm has a market capitalization of $307.62 million, a price-to-earnings ratio of 14.35 and a beta of 0.89. Investors Title has a 12-month low of $127.71 and a 12-month high of $171.60. The stock has a fifty day moving average price of $158.13 and a two-hundred day moving average price of $155.55.

Investors Title (NASDAQ:ITIC) last announced its earnings results on Tuesday, February 13th. The insurance provider reported $3.09 earnings per share (EPS) for the quarter. The company had revenue of $53.68 million for the quarter. Investors Title had a return on equity of 8.73% and a net margin of 9.65%.

Investors Title Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Monday, March 18th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Friday, March 15th. Investors Title’s dividend payout ratio is currently 16.06%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com lowered shares of Investors Title from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. TheStreet raised Investors Title from a “c+” rating to a “b-” rating in a research report on Wednesday, January 31st.

About Investors Title

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.