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

Investors Title (NASDAQ:ITIC) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 26,300 shares, a growth of 41.4% from the October 15th total of 18,600 shares. Approximately 1.9% of the company’s stock are short sold. Based on an average daily volume of 14,100 shares, the days-to-cover ratio is currently 1.9 days.

Investors Title Stock Performance

NASDAQ:ITIC traded down $3.18 on Friday, hitting $271.60. The stock had a trading volume of 10,867 shares, compared to its average volume of 10,692. Investors Title has a 1 year low of $141.41 and a 1 year high of $283.27. The firm’s fifty day simple moving average is $235.29 and its two-hundred day simple moving average is $204.10. The stock has a market cap of $510.61 million, a P/E ratio of 17.97 and a beta of 0.85.

Investors Title Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $14.46 per share. This represents a $57.84 dividend on an annualized basis and a dividend yield of 21.30%. This is an increase from Investors Title’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, December 2nd. Investors Title’s dividend payout ratio (DPR) is presently 12.18%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Martingale Asset Management L P increased its position in shares of Investors Title by 10.8% during the 3rd quarter. Martingale Asset Management L P now owns 1,431 shares of the insurance provider’s stock valued at $329,000 after purchasing an additional 140 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Investors Title by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,169 shares of the insurance provider’s stock worth $958,000 after buying an additional 142 shares during the last quarter. BNP Paribas Financial Markets raised its position in 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 second quarter. Rhumbline Advisers now owns 2,088 shares of the insurance provider’s stock valued at $376,000 after acquiring an additional 174 shares during the last quarter. Finally, Empowered Funds LLC grew its position in shares of 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 acquiring an additional 175 shares during the period. Hedge funds and other institutional investors own 41.40% of the company’s stock.

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.