Investors Title (NASDAQ:ITIC) Downgraded by BidaskClub to “Strong Sell”

BidaskClub cut shares of Investors Title (NASDAQ:ITIC) from a sell rating to a strong sell rating in a research note issued to investors on Friday, BidAskClub reports.

Shares of ITIC traded down $1.45 during trading hours on Friday, hitting $140.09. 5,100 shares of the company were exchanged, compared to its average volume of 1,978. The company has a market cap of $274.24 million, a price-to-earnings ratio of 12.03 and a beta of 0.54. Investors Title has a fifty-two week low of $139.20 and a fifty-two week high of $199.68. The company has a quick ratio of 1.15, a current ratio of 1.16 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average is $160.30 and its 200 day moving average is $163.10.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Friday, August 30th.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC acquired a new stake in shares of Investors Title during the 4th quarter worth $121,000. SG Americas Securities LLC grew its holdings in shares of Investors Title by 150.1% during the 1st quarter. SG Americas Securities LLC now owns 1,563 shares of the insurance provider’s stock worth $247,000 after purchasing an additional 938 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Investors Title by 4,052.9% during the 1st quarter. Bank of Montreal Can now owns 706 shares of the insurance provider’s stock worth $111,000 after purchasing an additional 689 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Investors Title by 14.6% during the 4th quarter. Geode Capital Management LLC now owns 15,063 shares of the insurance provider’s stock worth $2,661,000 after purchasing an additional 1,923 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY bought a new stake in shares of Investors Title during the 4th quarter worth $89,000. 42.09% of the stock is currently owned by institutional investors.

About Investors Title

Investors Title Company, through its subsidiaries, provides 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.

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