Barclays PLC Raises Stake in Investors Title (NASDAQ:ITIC)

Barclays PLC grew its position in Investors Title (NASDAQ:ITIC) by 127.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,406 shares of the insurance provider’s stock after purchasing an additional 1,347 shares during the quarter. Barclays PLC owned approximately 0.13% of Investors Title worth $553,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ITIC. Meeder Asset Management Inc. lifted its stake in shares of Investors Title by 455.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 239 shares of the insurance provider’s stock valued at $55,000 after buying an additional 196 shares in the last quarter. FMR LLC lifted its position in shares of Investors Title by 73.6% in the third quarter. FMR LLC now owns 479 shares of the insurance provider’s stock valued at $110,000 after acquiring an additional 203 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Investors Title in the third quarter valued at about $117,000. BNP Paribas Financial Markets boosted its stake in shares of Investors Title by 65.6% in the third quarter. BNP Paribas Financial Markets now owns 540 shares of the insurance provider’s stock worth $124,000 after acquiring an additional 214 shares during the period. Finally, Centiva Capital LP purchased a new stake in shares of Investors Title during the third quarter worth about $226,000. 41.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Investors Title from a “hold” rating to a “buy” rating in a research note on Monday, January 13th.

Investors Title Stock Performance

Shares of NASDAQ:ITIC opened at $228.05 on Friday. The firm has a market cap of $428.73 million, a price-to-earnings ratio of 15.09 and a beta of 0.92. The firm has a fifty day moving average price of $254.98 and a 200 day moving average price of $230.42. Investors Title has a fifty-two week low of $146.41 and a fifty-two week high of $290.40.

Investors Title Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $14.46 dividend. This represents a $57.84 annualized dividend and a dividend yield of 25.36%. This is a boost from Investors Title’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, December 2nd. Investors Title’s payout ratio is 12.18%.

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.