Investors Title (NASDAQ:ITIC – Get Rating) declared a quarterly dividend on Monday, August 8th, Zacks reports. Investors of record on Thursday, September 1st will be given a dividend of 0.46 per share by the insurance provider on Thursday, September 15th. This represents a $1.84 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Wednesday, August 31st.
Investors Title has increased its dividend by an average of 17.6% annually over the last three years and has raised its dividend every year for the last 2 years.
Investors Title Stock Performance
Shares of NASDAQ:ITIC opened at $156.62 on Tuesday. The firm has a market capitalization of $297.58 million, a P/E ratio of 7.11 and a beta of 0.77. The stock has a 50 day moving average price of $152.72 and a 200-day moving average price of $172.65. Investors Title has a 52-week low of $136.71 and a 52-week high of $248.00.
Institutional Investors Weigh In On Investors Title
A number of hedge funds have recently added to or reduced their stakes in ITIC. Advisor Group Holdings Inc. lifted its stake in shares of Investors Title by 28.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 450 shares of the insurance provider’s stock worth $91,000 after purchasing an additional 100 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Investors Title by 1.1% in the first quarter. Bank of New York Mellon Corp now owns 10,880 shares of the insurance provider’s stock worth $2,211,000 after buying an additional 119 shares during the period. MetLife Investment Management LLC lifted its holdings in Investors Title by 56.9% during the first quarter. MetLife Investment Management LLC now owns 747 shares of the insurance provider’s stock valued at $152,000 after purchasing an additional 271 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Investors Title by 2.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,478 shares of the insurance provider’s stock worth $1,114,000 after purchasing an additional 153 shares in the last quarter. Finally, State Street Corp raised its stake in Investors Title by 1.7% during the 1st quarter. State Street Corp now owns 24,001 shares of the insurance provider’s stock valued at $4,877,000 after purchasing an additional 406 shares during the period. 40.60% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, StockNews.com cut shares of Investors Title from a “buy” rating to a “hold” rating in a research report on Monday.
About Investors Title
Investors Title Company, through its subsidiaries, 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.