Assenagon Asset Management S.A. acquired a new stake in shares of Investors Title (NASDAQ:ITIC – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,484 shares of the insurance provider’s stock, valued at approximately $801,000. Assenagon Asset Management S.A. owned 0.29% of Investors Title at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc grew its stake in shares of Investors Title by 112.1% during the 2nd quarter. Legal & General Group Plc now owns 227 shares of the insurance provider’s stock valued at $36,000 after acquiring an additional 120 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Investors Title by 61.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 322 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 122 shares during the period. Advisor Group Holdings Inc. grew its stake in shares of Investors Title by 28.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 450 shares of the insurance provider’s stock valued at $91,000 after acquiring an additional 100 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Investors Title by 158.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 554 shares of the insurance provider’s stock valued at $78,000 after acquiring an additional 340 shares during the period. Finally, BNP Paribas Arbitrage SNC lifted its holdings in Investors Title by 77.0% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 570 shares of the insurance provider’s stock worth $80,000 after purchasing an additional 248 shares in the last quarter. 38.12% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently commented on ITIC. StockNews.com began coverage on Investors Title in a report on Thursday, October 5th. They issued a “buy” rating on the stock. TheStreet raised Investors Title from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th.
Investors Title Trading Down 0.5 %
NASDAQ ITIC opened at $143.30 on Wednesday. The stock’s 50 day moving average is $148.16 and its 200 day moving average is $145.84. Investors Title has a 12 month low of $125.80 and a 12 month high of $167.84. The stock has a market cap of $270.98 million, a PE ratio of 11.23 and a beta of 0.78.
Investors Title (NASDAQ:ITIC – Get Free Report) last issued its quarterly earnings data on Monday, August 7th. The insurance provider reported $4.00 earnings per share (EPS) for the quarter. The business had revenue of $58.31 million for the quarter. Investors Title had a return on equity of 9.99% and a net margin of 9.56%.
Investors Title Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.46 per share. The ex-dividend date was Thursday, August 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.28%. Investors Title’s dividend payout ratio (DPR) is 14.42%.
Investors Title Profile
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.
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