Investors Title (NASDAQ:ITIC) Short Interest Update

Investors Title (NASDAQ:ITIC) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 26,300 shares, an increase of 41.4% from the October 15th total of 18,600 shares. Based on an average daily volume of 14,100 shares, the days-to-cover ratio is presently 1.9 days. Approximately 1.9% of the shares of the company are short sold.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in Investors Title by 455.8% during the third quarter. Meeder Asset Management Inc. now owns 239 shares of the insurance provider’s stock valued at $55,000 after buying an additional 196 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Investors Title by 36.1% during the 1st quarter. BNP Paribas Financial Markets now owns 637 shares of the insurance provider’s stock valued at $104,000 after acquiring an additional 169 shares during the last quarter. FMR LLC grew its holdings in shares of Investors Title by 73.6% during the third quarter. FMR LLC now owns 479 shares of the insurance provider’s stock worth $110,000 after purchasing an additional 203 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Investors Title in the third quarter worth approximately $117,000. Finally, Centiva Capital LP purchased a new stake in Investors Title in the third quarter valued at approximately $226,000. Institutional investors own 41.40% of the company’s stock.

Investors Title Trading Down 1.2 %

Shares of ITIC stock traded down $3.18 during trading hours on Friday, reaching $271.60. The stock had a trading volume of 10,867 shares, compared to its average volume of 10,692. The stock’s fifty day simple moving average is $235.29 and its 200 day simple moving average is $204.10. The firm has a market capitalization of $510.61 million, a PE ratio of 17.97 and a beta of 0.85. Investors Title has a 12 month low of $141.41 and a 12 month high of $283.27.

Investors Title Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $14.46 per share. 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 21.30%. The ex-dividend date of this dividend is Monday, December 2nd. Investors Title’s payout ratio 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.