Short Interest in Investors Title (NASDAQ:ITIC) Rises By 19.6%

Investors Title (NASDAQ:ITIC) was the recipient of a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 5,500 shares, an increase of 19.6% from the April 15th total of 4,600 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average trading volume of 2,200 shares, the days-to-cover ratio is presently 2.5 days.

Analysts Set New Price Targets

ITIC has been the topic of a number of analyst reports. StockNews.com upgraded shares of Investors Title from a “hold” rating to a “buy” rating in a research note on Monday, May 6th. TheStreet upgraded Investors Title from a “c+” rating to a “b-” rating in a research note on Wednesday, January 31st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp increased its position in Investors Title by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 7,011 shares of the insurance provider’s stock worth $1,038,000 after buying an additional 112 shares during the period. Blair William & Co. IL acquired a new stake in shares of Investors Title in the third quarter valued at approximately $205,000. O Shaughnessy Asset Management LLC raised its holdings in shares of Investors Title by 26.9% during the third quarter. O Shaughnessy Asset Management LLC now owns 2,328 shares of the insurance provider’s stock valued at $345,000 after buying an additional 493 shares during the last quarter. Third Avenue Management LLC boosted its position in shares of Investors Title by 343.6% during the third quarter. Third Avenue Management LLC now owns 29,599 shares of the insurance provider’s stock worth $4,374,000 after buying an additional 22,926 shares during the period. Finally, Sound Income Strategies LLC bought a new position in Investors Title in the 4th quarter worth approximately $189,000. 41.40% of the stock is owned by institutional investors and hedge funds.

Investors Title Trading Down 0.4 %

ITIC stock traded down $0.61 during mid-day trading on Thursday, hitting $162.01. 446 shares of the company were exchanged, compared to its average volume of 2,265. The firm has a fifty day simple moving average of $159.51 and a 200 day simple moving average of $157.77. The company has a market capitalization of $304.58 million, a PE ratio of 12.28 and a beta of 0.87. Investors Title has a twelve month low of $127.71 and a twelve month high of $171.60.

Investors Title (NASDAQ:ITIC) last posted its quarterly earnings results on Tuesday, February 13th. The insurance provider reported $3.09 earnings per share (EPS) for the quarter. Investors Title had a return on equity of 9.96% and a net margin of 11.03%. The business had revenue of $53.68 million for the quarter.

Investors Title Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Monday, March 18th were issued a dividend of $0.46 per share. The ex-dividend date was Friday, March 15th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.14%. Investors Title’s dividend payout ratio (DPR) is 13.90%.

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.