Investors Title (NASDAQ:ITIC) Sees Significant Decrease in Short Interest

Investors Title (NASDAQ:ITIC) saw a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 16,600 shares, a decline of 9.8% from the September 15th total of 18,400 shares. Based on an average daily trading volume, of 20,400 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.2% of the company’s shares are sold short.

Institutional Trading of Investors Title

Institutional investors have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC boosted its position in shares of 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 worth $581,000 after buying an additional 1,037 shares during the period. BNP Paribas Financial Markets grew its position in Investors Title by 36.1% in the first quarter. BNP Paribas Financial Markets now owns 637 shares of the insurance provider’s stock valued at $104,000 after acquiring an additional 169 shares in the last quarter. Ritholtz Wealth Management raised its stake in shares of Investors Title by 55.0% during the second quarter. Ritholtz Wealth Management now owns 2,480 shares of the insurance provider’s stock valued at $447,000 after purchasing an additional 880 shares during the period. American Century Companies Inc. lifted its position in shares of Investors Title by 27.0% during the second quarter. American Century Companies Inc. now owns 3,774 shares of the insurance provider’s stock worth $680,000 after purchasing an additional 803 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of Investors Title by 4.2% in the first quarter. Empowered Funds LLC now owns 4,302 shares of the insurance provider’s stock valued at $702,000 after purchasing an additional 175 shares during the period. 41.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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 Stock Up 4.1 %

ITIC stock opened at $239.40 on Thursday. The company has a market cap of $451.03 million, a price-to-earnings ratio of 17.98 and a beta of 0.85. The business has a fifty day simple moving average of $222.83 and a 200-day simple moving average of $190.64. Investors Title has a 52 week low of $127.71 and a 52 week high of $239.40.

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

Investors Title Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Tuesday, September 3rd were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Tuesday, September 3rd. Investors Title’s payout ratio is currently 13.90%.

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.