Investors Title (NASDAQ:ITIC) Short Interest Update

Investors Title (NASDAQ:ITIC) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totalling 26,700 shares, a growth of 8.1% from the November 30th total of 24,700 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 11,200 shares, the days-to-cover ratio is presently 2.4 days.

Analyst Upgrades and Downgrades

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

Institutional Trading of Investors Title

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its holdings in shares of Investors Title by 187.5% in the third quarter. JPMorgan Chase & Co. now owns 3,260 shares of the insurance provider’s stock valued at $749,000 after purchasing an additional 2,126 shares during the period. Barclays PLC boosted its holdings in Investors Title by 127.2% in the 3rd quarter. Barclays PLC now owns 2,406 shares of the insurance provider’s stock valued at $553,000 after purchasing an additional 1,347 shares during the last quarter. PDT Partners LLC purchased a new stake in shares of Investors Title in the 3rd quarter valued at approximately $267,000. Canal Capital Management LLC acquired a new stake in shares of Investors Title during the 3rd quarter worth approximately $230,000. Finally, Centiva Capital LP purchased a new stake in shares of Investors Title during the 3rd quarter valued at approximately $226,000. 41.40% of the stock is owned by institutional investors and hedge funds.

Investors Title Price Performance

Shares of Investors Title stock opened at $236.76 on Thursday. The stock’s 50 day simple moving average is $257.66 and its 200-day simple moving average is $226.57. The stock has a market cap of $446.06 million, a P/E ratio of 15.67 and a beta of 0.89. Investors Title has a 1-year low of $146.41 and a 1-year high of $290.40.

Investors Title Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $14.46 dividend. This is a boost from Investors Title’s previous quarterly dividend of $0.46. This represents a $57.84 annualized dividend and a yield of 24.43%. The ex-dividend date of this dividend was Monday, December 2nd. Investors Title’s dividend payout ratio is presently 12.18%.

About Investors Title

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.