Investors Title (NASDAQ:ITIC) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Investors Title Company (NASDAQ:ITIC) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $233.47 and traded as high as $263.50. Investors Title shares last traded at $255.05, with a volume of 25,247 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Investors Title in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy”.

Investors Title Stock Performance

The firm has a market cap of $482.04 million, a PE ratio of 14.59 and a beta of 0.87. The firm’s 50-day moving average price is $256.84 and its two-hundred day moving average price is $233.47.

Investors Title (NASDAQ:ITIC) last issued its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $6.48 earnings per share for the quarter. The business had revenue of $71.55 million during the quarter. Investors Title had a net margin of 12.28% and a return on equity of 12.70%.

Investors Title Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 2nd. Investors Title’s payout ratio is currently 10.53%.

Institutional Trading of Investors Title

Institutional investors have recently modified their holdings of the stock. AlphaQuest LLC purchased a new stake in shares of Investors Title during the 2nd quarter worth approximately $27,000. Trexquant Investment LP purchased a new stake in shares of Investors Title during the 1st quarter worth approximately $244,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Investors Title during the 2nd quarter worth approximately $224,000. Brevan Howard Capital Management LP purchased a new stake in Investors Title in the 2nd quarter valued at $240,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in Investors Title in the 2nd quarter valued at $275,000. Hedge funds and other institutional investors own 41.40% of the company’s stock.

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.