Investors Title (NASDAQ:ITIC) Downgraded to “Strong Sell” at BidaskClub

BidaskClub cut shares of Investors Title (NASDAQ:ITIC) from a sell rating to a strong sell rating in a research report sent to investors on Friday, BidAskClub reports.

Shares of ITIC stock opened at $142.00 on Friday. The stock has a market cap of $267.32 million, a P/E ratio of 11.73 and a beta of 0.54. Investors Title has a one year low of $139.20 and a one year high of $199.68. The stock has a fifty day moving average price of $158.74 and a 200 day moving average price of $162.77. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.16 and a quick ratio of 1.15.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 annualized dividend and a yield of 1.13%.

A number of hedge funds have recently modified their holdings of the stock. Colony Group LLC bought a new position in Investors Title in the second quarter worth $236,000. Vanguard Group Inc. lifted its position in Investors Title by 1.5% in the second quarter. Vanguard Group Inc. now owns 59,979 shares of the insurance provider’s stock worth $10,016,000 after purchasing an additional 869 shares during the period. BlackRock Inc. lifted its position in Investors Title by 1.5% in the second quarter. BlackRock Inc. now owns 106,581 shares of the insurance provider’s stock worth $17,800,000 after purchasing an additional 1,569 shares during the period. Renaissance Technologies LLC lifted its position in Investors Title by 6.5% in the second quarter. Renaissance Technologies LLC now owns 23,100 shares of the insurance provider’s stock worth $3,858,000 after purchasing an additional 1,400 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Investors Title by 13.9% in the second quarter. Bank of New York Mellon Corp now owns 8,909 shares of the insurance provider’s stock worth $1,488,000 after purchasing an additional 1,086 shares during the period. 42.27% of the stock is owned by hedge funds and other institutional investors.

Investors Title Company Profile

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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