SummerHaven Investment Management LLC Purchases Shares of 4,200 Investors Title Company $ITIC

SummerHaven Investment Management LLC acquired a new position in Investors Title Company (NASDAQ:ITIC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,200 shares of the insurance provider’s stock, valued at approximately $1,125,000. Investors Title makes up 0.7% of SummerHaven Investment Management LLC’s investment portfolio, making the stock its 14th biggest holding.

Several other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC bought a new stake in Investors Title in the 2nd quarter worth approximately $27,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Investors Title during the second quarter worth approximately $224,000. Brevan Howard Capital Management LP bought a new stake in shares of Investors Title in the 2nd quarter worth approximately $240,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Investors Title in the 2nd quarter valued at $275,000. Finally, Quantinno Capital Management LP bought a new position in shares of Investors Title during the 2nd quarter valued at $294,000. 41.40% of the stock is currently owned by institutional investors.

Investors Title Stock Down 1.3%

Shares of Investors Title stock opened at $253.41 on Wednesday. The company’s fifty day simple moving average is $255.91 and its two-hundred day simple moving average is $250.62. Investors Title Company has a 12-month low of $190.20 and a 12-month high of $288.98. The firm has a market cap of $478.94 million, a PE ratio of 13.33 and a beta of 0.66.

Investors Title (NASDAQ:ITIC) last issued its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $6.45 EPS for the quarter. The firm had revenue of $70.97 million during the quarter. Investors Title had a net margin of 13.15% and a return on equity of 13.72%.

Investors Title Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.46 dividend. The ex-dividend date was Monday, December 1st. This represents a $1.84 annualized dividend and a yield of 0.7%. Investors Title’s dividend payout ratio (DPR) is 9.68%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of Investors Title in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Investors Title currently has an average rating of “Buy”.

Investors Title 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. It offers services in connection with tax-deferred exchanges of like-kind property; acts as a qualified intermediary in tax-deferred exchanges of property; coordinates the exchange aspects of the real estate transaction, such as drafting standard exchange documents, holding the exchange funds between the sale of the old property and the purchase of the new property, and accepting the formal identification of the replacement property.