State Street Corp Sells 596 Shares of Investors Title (NASDAQ:ITIC)

State Street Corp reduced its holdings in Investors Title (NASDAQ:ITIC) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,919 shares of the insurance provider’s stock after selling 596 shares during the quarter. State Street Corp owned 1.33% of Investors Title worth $5,726,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ITIC. Centiva Capital LP bought a new position in shares of Investors Title in the 3rd quarter valued at about $226,000. PDT Partners LLC bought a new position in Investors Title during the third quarter worth about $267,000. Martingale Asset Management L P raised its position in shares of Investors Title by 10.8% in the third quarter. Martingale Asset Management L P now owns 1,431 shares of the insurance provider’s stock valued at $329,000 after purchasing an additional 140 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Investors Title by 65.6% during 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, FMR LLC grew its stake 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. 41.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Investors Title from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th.

Investors Title Stock Down 2.4 %

Shares of ITIC stock opened at $238.00 on Friday. The business has a fifty day simple moving average of $257.43 and a 200 day simple moving average of $224.79. Investors Title has a twelve month low of $146.41 and a twelve month high of $290.40. The company has a market cap of $447.44 million, a P/E ratio of 15.75 and a beta of 0.89.

Investors Title Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a dividend of $14.46 per share. This represents a $57.84 dividend on an annualized basis and a dividend yield of 24.30%. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from Investors Title’s previous quarterly dividend of $0.46. Investors Title’s payout ratio is presently 12.18%.

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.