Investors Title (NASDAQ:ITIC) Sees Large Decrease in Short Interest

Investors Title (NASDAQ:ITIC) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 23,400 shares, a decrease of 12.4% from the December 15th total of 26,700 shares. Based on an average daily volume of 11,900 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.7% of the company’s shares are sold short.

Institutional Investors Weigh In On Investors Title

A number of hedge funds and other institutional investors have recently bought and sold shares of ITIC. Meeder Asset Management Inc. boosted its position in shares of Investors Title by 455.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 239 shares of the insurance provider’s stock worth $55,000 after purchasing an additional 196 shares in the last quarter. FMR LLC boosted its holdings in Investors Title by 73.6% in the third quarter. FMR LLC now owns 479 shares of the insurance provider’s stock worth $110,000 after acquiring an additional 203 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Investors Title in the third quarter worth $117,000. BNP Paribas Financial Markets increased its holdings in shares of Investors Title by 65.6% during the third quarter. BNP Paribas Financial Markets now owns 540 shares of the insurance provider’s stock valued at $124,000 after acquiring an additional 214 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Investors Title by 225.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 650 shares of the insurance provider’s stock worth $154,000 after purchasing an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 41.40% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Investors Title from a “hold” rating to a “buy” rating in a research note on Monday, January 13th.

Investors Title Stock Up 0.0 %

Shares of NASDAQ:ITIC traded up $0.06 during trading on Friday, hitting $228.05. The stock had a trading volume of 17,538 shares, compared to its average volume of 8,748. Investors Title has a 12 month low of $146.41 and a 12 month high of $290.40. The company has a market capitalization of $428.73 million, a PE ratio of 15.09 and a beta of 0.92. The firm’s fifty day moving average is $254.98 and its 200 day moving average is $230.80.

Investors Title Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $14.46 per share. This is a boost from Investors Title’s previous quarterly dividend of $0.46. This represents a $57.84 dividend on an annualized basis and a yield of 25.36%. The ex-dividend date of this dividend was Monday, December 2nd. Investors Title’s dividend payout ratio (DPR) 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.