Investors Title (NASDAQ:ITIC) Sees Large Drop in Short Interest

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

Institutional Trading of Investors Title

Several hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its position in Investors Title by 127.2% in the 3rd quarter. Barclays PLC now owns 2,406 shares of the insurance provider’s stock worth $553,000 after buying an additional 1,347 shares during the period. PDT Partners LLC acquired a new position in Investors Title during the 3rd quarter valued at $267,000. Canal Capital Management LLC bought a new stake in Investors Title in the 3rd quarter valued at $230,000. Centiva Capital LP acquired a new stake in Investors Title in the 3rd quarter worth $226,000. Finally, Ritholtz Wealth Management increased its holdings in shares of Investors Title by 55.0% during the 2nd quarter. Ritholtz Wealth Management now owns 2,480 shares of the insurance provider’s stock worth $447,000 after purchasing an additional 880 shares during the period. Institutional investors own 41.40% of the company’s stock.

Investors Title Stock Performance

Shares of Investors Title stock traded down $16.09 on Monday, reaching $270.42. The stock had a trading volume of 13,642 shares, compared to its average volume of 10,733. Investors Title has a fifty-two week low of $141.41 and a fifty-two week high of $290.40. The business’s 50-day moving average price is $246.14 and its two-hundred day moving average price is $212.93. The stock has a market cap of $508.39 million, a P/E ratio of 18.96 and a beta of 0.85.

Investors Title Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $14.46 dividend. The ex-dividend date is Monday, December 2nd. This is a positive change from Investors Title’s previous quarterly dividend of $0.46. This represents a $57.84 dividend on an annualized basis and a dividend yield of 21.39%. Investors Title’s payout ratio is presently 12.18%.

Wall Street Analysts Forecast Growth

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

About Investors Title

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.