Investors Title (NASDAQ:ITIC) declared a quarterly dividend on Wednesday, November 14th, Wall Street Journal reports. Stockholders of record on Monday, December 3rd will be given a dividend of 0.40 per share by the insurance provider on Monday, December 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Friday, November 30th.
Investors Title has increased its dividend payment by an average of 61.6% per year over the last three years and has raised its dividend every year for the last 3 years.
ITIC opened at $194.94 on Friday. The firm has a market cap of $367.77 million, a PE ratio of 14.20 and a beta of 0.41. Investors Title has a one year low of $156.00 and a one year high of $221.88.
Separately, BidaskClub upgraded shares of Investors Title from a “sell” rating to a “hold” rating in a research report on Wednesday, August 8th.
A hedge fund recently raised its stake in Investors Title stock. Bank of New York Mellon Corp increased its stake in Investors Title (NASDAQ:ITIC) by 4.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,734 shares of the insurance provider’s stock after acquiring an additional 333 shares during the period. Bank of New York Mellon Corp owned about 0.41% of Investors Title worth $1,428,000 as of its most recent SEC filing. 42.56% 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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