Investors Title (NASDAQ:ITIC) Short Interest Update

Investors Title (NASDAQ:ITIC) was the target of 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 trading volume of 14,100 shares, the short-interest ratio is presently 1.9 days. Currently, 1.9% of the shares of the company are sold short.

Investors Title Stock Down 1.2 %

Shares of ITIC stock traded down $3.18 on Friday, hitting $271.60. The company had a trading volume of 10,867 shares, compared to its average volume of 10,692. Investors Title has a twelve month low of $141.41 and a twelve month high of $283.27. The firm has a market cap of $511.69 million, a P/E ratio of 17.97 and a beta of 0.85. The company has a 50-day moving average price of $235.29 and a 200-day moving average price of $204.10.

Investors Title Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $14.46 dividend. This represents a $57.84 annualized dividend and a yield of 21.30%. The ex-dividend date of this dividend is Monday, December 2nd. This is a positive change from Investors Title’s previous quarterly dividend of $0.46. Investors Title’s dividend payout ratio is currently 12.18%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Investors Title

Several institutional investors have recently made changes to their positions in ITIC. Geode Capital Management LLC grew its position in Investors Title by 2.5% during the third quarter. Geode Capital Management LLC now owns 33,275 shares of the insurance provider’s stock valued at $7,648,000 after buying an additional 809 shares during the period. Barclays PLC grew its position in shares of Investors Title by 127.2% during the 3rd quarter. Barclays PLC now owns 2,406 shares of the insurance provider’s stock valued at $553,000 after acquiring an additional 1,347 shares during the period. Jane Street Group LLC increased its stake in shares of Investors Title by 33.2% in the 3rd quarter. Jane Street Group LLC now owns 2,096 shares of the insurance provider’s stock valued at $482,000 after purchasing an additional 523 shares in the last quarter. Centiva Capital LP acquired a new position in Investors Title in the 3rd quarter worth about $226,000. Finally, PDT Partners LLC purchased a new position in Investors Title during the third quarter worth approximately $267,000. 41.40% of the stock is owned by hedge funds and other institutional investors.

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.