Charles Schwab Investment Management Inc. Grows Position in Investors Title (NASDAQ:ITIC)

Charles Schwab Investment Management Inc. raised its stake in Investors Title (NASDAQ:ITIC) by 3.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,169 shares of the insurance provider’s stock after acquiring an additional 142 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.22% of Investors Title worth $958,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ITIC. Meeder Asset Management Inc. increased its holdings in shares of Investors Title by 455.8% in the third quarter. Meeder Asset Management Inc. now owns 239 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 196 shares during the last quarter. SG Americas Securities LLC purchased a new position in Investors Title during the 3rd quarter valued at approximately $117,000. Canal Capital Management LLC bought a new stake in Investors Title in the 3rd quarter worth approximately $230,000. Rhumbline Advisers raised its holdings in shares of Investors Title by 9.1% during the 2nd quarter. Rhumbline Advisers now owns 2,088 shares of the insurance provider’s stock worth $376,000 after acquiring an additional 174 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its position in shares of Investors Title by 55.0% during the 2nd quarter. Ritholtz Wealth Management now owns 2,480 shares of the insurance provider’s stock valued at $447,000 after acquiring an additional 880 shares during the last quarter. Hedge funds and other institutional investors own 41.40% of the company’s stock.

Investors Title Trading Down 1.4 %

ITIC opened at $263.48 on Wednesday. The stock has a 50-day moving average of $255.09 and a 200 day moving average of $221.04. Investors Title has a 12 month low of $146.41 and a 12 month high of $290.40. The firm has a market cap of $496.40 million, a P/E ratio of 17.44 and a beta of 0.89.

Investors Title Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $14.46 per share. This represents a $57.84 annualized dividend and a yield of 21.95%. The ex-dividend date was Monday, December 2nd. This is a positive change from Investors Title’s previous quarterly dividend of $0.46. Investors Title’s dividend payout ratio is presently 12.18%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Investors Title from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

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.