Invesco Ltd. Buys New Shares in Investors Title (NASDAQ:ITIC)

Invesco Ltd. purchased a new position in Investors Title (NASDAQ:ITIC) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,002 shares of the insurance provider’s stock, valued at approximately $237,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Aviva PLC boosted its position in shares of Investors Title by 136.0% in the fourth quarter. Aviva PLC now owns 2,254 shares of the insurance provider’s stock worth $534,000 after acquiring an additional 1,299 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Investors Title by 187.5% during the third quarter. JPMorgan Chase & Co. now owns 3,260 shares of the insurance provider’s stock worth $749,000 after purchasing an additional 2,126 shares during the period. Barclays PLC boosted its holdings in shares of 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. Jane Street Group LLC grew its stake in shares of Investors Title by 33.2% during the 3rd quarter. Jane Street Group LLC now owns 2,096 shares of the insurance provider’s stock valued at $482,000 after buying an additional 523 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Investors Title by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 75,070 shares of the insurance provider’s stock worth $17,774,000 after buying an additional 1,918 shares during the last quarter. Hedge funds and other institutional investors own 41.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Investors Title from a “hold” rating to a “buy” rating in a report on Saturday, March 22nd.

Investors Title Stock Performance

NASDAQ ITIC opened at $240.68 on Monday. The firm has a market capitalization of $524.20 million, a price-to-earnings ratio of 14.65 and a beta of 0.84. Investors Title has a one year low of $146.41 and a one year high of $290.40. The company’s 50 day moving average price is $233.58 and its 200 day moving average price is $240.37.

Investors Title (NASDAQ:ITIC) last posted its earnings results on Thursday, February 13th. The insurance provider reported $4.41 earnings per share for the quarter. Investors Title had a net margin of 12.03% and a return on equity of 11.84%. The business had revenue of $70.63 million for the quarter.

Investors Title Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 24th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Monday, March 24th. Investors Title’s payout ratio is 11.20%.

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.