Investors Title (NASDAQ:ITIC) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?
Investors Title (NASDAQ:ITIC) shares have crossed above their 200-day moving average of $231.24, trading at $255.26 with a high of $259.65. The company reported $6.48 EPS and $71.55 million in revenue for the last quarter. Weiss Ratings maintains a 'buy' rating, with 41.40% of shares held by hedge funds. A quarterly dividend of $0.46 was recently paid, yielding 0.7%. Despite the positive outlook, some analysts suggest there are better investment options available.
Investors Title Company (NASDAQ:ITIC - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $231.24 and traded as high as $259.65. Investors Title shares last traded at $255.26, with a volume of 24,204 shares traded.
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Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a "buy (b)" rating on shares of Investors Title in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy".
Check Out Our Latest Analysis on ITIC
Investors Title Stock Performance
The stock's fifty day moving average price is $252.13 and its 200-day moving average price is $231.24. The firm has a market cap of $482.44 million, a PE ratio of 14.60 and a beta of 0.87.
Investors Title (NASDAQ:ITIC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $6.48 earnings per share (EPS) for the quarter. The business had revenue of $71.55 million during the quarter. Investors Title had a net margin of 12.28% and a return on equity of 12.70%.
Investors Title Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 2nd. Investors Title's dividend payout ratio (DPR) is currently 10.53%.
Hedge Funds Weigh In On Investors Title
Several hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC purchased a new position in Investors Title during the 2nd quarter valued at about $27,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Investors Title during the 2nd quarter valued at about $224,000. Brevan Howard Capital Management LP purchased a new position in Investors Title during the 2nd quarter valued at about $240,000. Trexquant Investment LP purchased a new position in Investors Title during the 1st quarter valued at about $244,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in Investors Title during the 2nd quarter valued at about $275,000. 41.40% of the stock is currently owned by hedge funds and other institutional investors.
Investors Title Company Profile
(Get Free Report)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.
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