1,362 Shares in Investors Title (NASDAQ:ITIC) Purchased by Trust Co of the South

Trust Co of the South bought a new stake in shares of Investors Title (NASDAQ:ITIC) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,362 shares of the insurance provider’s stock, valued at approximately $322,000.

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of Investors Title by 6.0% during the second quarter. Bank of New York Mellon Corp now owns 12,607 shares of the insurance provider’s stock worth $2,271,000 after purchasing an additional 710 shares during the last quarter. Ritholtz Wealth Management increased its stake 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 valued at $447,000 after acquiring an additional 880 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Investors Title by 9.1% during the 2nd quarter. Rhumbline Advisers now owns 2,088 shares of the insurance provider’s stock worth $376,000 after acquiring an additional 174 shares during the period. American Century Companies Inc. grew its stake in shares of Investors Title by 27.0% during the 2nd quarter. American Century Companies Inc. now owns 3,774 shares of the insurance provider’s stock valued at $680,000 after buying an additional 803 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Investors Title during the third quarter worth about $117,000. Institutional investors and hedge funds own 41.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Investors Title from a “buy” rating to a “hold” rating in a research note on Wednesday.

Investors Title Stock Performance

Shares of NASDAQ ITIC traded down $6.23 during midday trading on Thursday, hitting $230.53. The company’s stock had a trading volume of 4,769 shares, compared to its average volume of 10,479. The firm has a market cap of $434.32 million, a P/E ratio of 15.26 and a beta of 0.89. Investors Title has a 1-year low of $146.41 and a 1-year high of $290.40. The firm’s fifty day moving average price is $257.66 and its 200-day moving average price is $226.57.

Investors Title Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $14.46 dividend. This is an increase from Investors Title’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $57.84 annualized dividend and a dividend yield of 25.09%. Investors Title’s dividend payout ratio (DPR) is 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.