Investors Title (NASDAQ:ITIC) Short Interest Update

Investors Title (NASDAQ:ITIC) was the target of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 23,400 shares, a drop of 12.4% from the December 15th total of 26,700 shares. Based on an average daily volume of 11,900 shares, the short-interest ratio is presently 2.0 days. Currently, 1.7% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Investors Title from a “hold” rating to a “buy” rating in a report on Monday, January 13th.

Institutional Trading of Investors Title

Several large investors have recently modified their holdings of the company. SG Americas Securities LLC lifted its holdings in Investors Title by 21.0% in the fourth quarter. SG Americas Securities LLC now owns 616 shares of the insurance provider’s stock valued at $146,000 after acquiring an additional 107 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Investors Title by 225.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 650 shares of the insurance provider’s stock worth $154,000 after purchasing an additional 450 shares during the period. Trust Co of the South purchased a new position in shares of Investors Title in the fourth quarter worth approximately $322,000. JPMorgan Chase & Co. grew its position in Investors Title by 187.5% during the third quarter. JPMorgan Chase & Co. now owns 3,260 shares of the insurance provider’s stock valued at $749,000 after buying an additional 2,126 shares during the period. Finally, Barclays PLC grew its position in Investors Title by 127.2% during the third quarter. Barclays PLC now owns 2,406 shares of the insurance provider’s stock valued at $553,000 after buying an additional 1,347 shares during the period. Institutional investors own 41.40% of the company’s stock.

Investors Title Stock Performance

Shares of ITIC traded up $0.06 during mid-day trading on Friday, hitting $228.05. 17,538 shares of the company traded hands, compared to its average volume of 8,748. Investors Title has a 1 year low of $146.41 and a 1 year high of $290.40. The stock has a 50-day moving average price of $254.98 and a two-hundred day moving average price of $230.80. The stock has a market cap of $428.73 million, a price-to-earnings ratio of 15.09 and a beta of 0.92.

Investors Title Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $14.46 per share. This represents a $57.84 annualized dividend and a dividend yield of 25.36%. This is a boost from Investors Title’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, December 2nd. 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.