Canal Capital Management LLC Buys New Shares in Investors Title (NASDAQ:ITIC)

Canal Capital Management LLC bought a new position in Investors Title (NASDAQ:ITIC) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 1,000 shares of the insurance provider’s stock, valued at approximately $230,000. Canal Capital Management LLC owned 0.05% of Investors Title as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of ITIC. BNP Paribas Financial Markets boosted its stake in shares of Investors Title by 36.1% in the first quarter. BNP Paribas Financial Markets now owns 637 shares of the insurance provider’s stock worth $104,000 after acquiring an additional 169 shares during the period. Rhumbline Advisers boosted its stake in Investors Title by 9.1% in the 2nd quarter. Rhumbline Advisers now owns 2,088 shares of the insurance provider’s stock worth $376,000 after purchasing an additional 174 shares during the period. Empowered Funds LLC grew its holdings in Investors Title by 4.2% during the 1st quarter. Empowered Funds LLC now owns 4,302 shares of the insurance provider’s stock valued at $702,000 after buying an additional 175 shares in the last quarter. Ritholtz Wealth Management raised its position in shares of Investors Title by 9.0% during the third quarter. Ritholtz Wealth Management now owns 2,703 shares of the insurance provider’s stock valued at $621,000 after buying an additional 223 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Investors Title in the third quarter worth $117,000. Hedge funds and other institutional investors own 41.40% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Investors Title from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th.

Investors Title Trading Up 1.2 %

Shares of ITIC stock opened at $235.20 on Friday. The stock has a market capitalization of $443.12 million, a price-to-earnings ratio of 17.76 and a beta of 0.85. Investors Title has a 12-month low of $127.71 and a 12-month high of $243.74. The stock’s 50-day moving average price is $226.87 and its 200-day moving average price is $193.99.

Investors Title (NASDAQ:ITIC) last released its quarterly earnings data on Tuesday, August 6th. The insurance provider reported $4.70 earnings per share (EPS) for the quarter. The business had revenue of $65.38 million for the quarter. Investors Title had a return on equity of 10.32% and a net margin of 11.25%.

Investors Title Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date was Tuesday, September 3rd. Investors Title’s payout ratio is 13.90%.

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.