Ritholtz Wealth Management Acquires 880 Shares of Investors Title (NASDAQ:ITIC)

Ritholtz Wealth Management boosted its holdings in shares of Investors Title (NASDAQ:ITIC) by 55.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,480 shares of the insurance provider’s stock after acquiring an additional 880 shares during the quarter. Ritholtz Wealth Management owned 0.13% of Investors Title worth $447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ITIC. Oppenheimer & Co. Inc. increased its holdings in Investors Title by 2.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 9,790 shares of the insurance provider’s stock valued at $1,587,000 after purchasing an additional 263 shares during the period. Franklin Resources Inc. lifted its stake in shares of Investors Title by 34.9% in the fourth quarter. Franklin Resources Inc. now owns 10,724 shares of the insurance provider’s stock worth $1,739,000 after acquiring an additional 2,776 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in Investors Title by 41.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,560 shares of the insurance provider’s stock valued at $581,000 after acquiring an additional 1,037 shares during the last quarter. BNP Paribas Financial Markets increased its position in Investors Title by 36.1% during the 1st quarter. BNP Paribas Financial Markets now owns 637 shares of the insurance provider’s stock valued at $104,000 after purchasing an additional 169 shares during the period. Finally, Empowered Funds LLC raised its holdings in Investors Title by 4.2% during the 1st quarter. Empowered Funds LLC now owns 4,302 shares of the insurance provider’s stock worth $702,000 after purchasing an additional 175 shares during the last quarter. 41.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Investors Title from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th.

Investors Title Price Performance

Shares of NASDAQ:ITIC opened at $224.25 on Thursday. Investors Title has a 1 year low of $127.71 and a 1 year high of $226.78. The business’s 50-day moving average is $202.15 and its 200-day moving average is $176.32. The company has a market capitalization of $422.49 million, a price-to-earnings ratio of 16.94 and a beta of 0.87.

Investors Title (NASDAQ:ITIC) last posted its quarterly earnings results on Tuesday, August 6th. The insurance provider reported $4.70 earnings per share (EPS) for the quarter. The firm had revenue of $65.38 million for the quarter. Investors Title had a return on equity of 10.32% and a net margin of 11.25%.

Investors Title Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.82%. The ex-dividend date is Tuesday, September 3rd. Investors Title’s dividend payout ratio (DPR) is currently 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.