Short Interest in Investors Title (NASDAQ:ITIC) Drops By 6.8%

Investors Title (NASDAQ:ITIC) was the recipient of a large decline in short interest in November. As of November 15th, there was short interest totalling 24,500 shares, a decline of 6.8% from the October 31st total of 26,300 shares. Based on an average daily trading volume, of 13,200 shares, the short-interest ratio is currently 1.9 days. Approximately 1.7% of the shares of the company are sold short.

Institutional Trading of Investors Title

Institutional investors have recently made changes to their positions in the business. Meeder Asset Management Inc. boosted its stake in Investors Title by 455.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 239 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 196 shares during the period. FMR LLC boosted its position in shares of Investors Title by 73.6% during the third quarter. FMR LLC now owns 479 shares of the insurance provider’s stock worth $110,000 after acquiring an additional 203 shares during the last quarter. SG Americas Securities LLC purchased a new position in Investors Title during the third quarter valued at $117,000. BNP Paribas Financial Markets grew its stake in Investors Title by 65.6% during the third quarter. BNP Paribas Financial Markets now owns 540 shares of the insurance provider’s stock valued at $124,000 after acquiring an additional 214 shares in the last quarter. Finally, Centiva Capital LP bought a new stake in Investors Title in the 3rd quarter valued at $226,000. Hedge funds and other institutional investors own 41.40% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded Investors Title from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

Investors Title Price Performance

Shares of NASDAQ ITIC opened at $270.42 on Tuesday. The stock has a market cap of $508.39 million, a PE ratio of 17.90 and a beta of 0.89. Investors Title has a 1 year low of $141.41 and a 1 year high of $290.40. The firm has a fifty day moving average price of $247.00 and a 200-day moving average price of $213.69.

Investors Title Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $14.46 dividend. This represents a $57.84 dividend on an annualized basis and a yield of 21.39%. The ex-dividend date is Monday, December 2nd. This is a positive change from Investors Title’s previous quarterly dividend of $0.46. Investors Title’s dividend 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.