Charles Schwab Investment Management Inc. Boosts Position in Investors Title (NASDAQ:ITIC)

Charles Schwab Investment Management Inc. boosted its stake in shares of Investors Title (NASDAQ:ITIC) by 3.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,169 shares of the insurance provider’s stock after buying an additional 142 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Investors Title were worth $958,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ITIC. Bank of New York Mellon Corp boosted its holdings in shares of Investors Title by 6.0% in the second quarter. Bank of New York Mellon Corp now owns 12,607 shares of the insurance provider’s stock valued at $2,271,000 after purchasing an additional 710 shares during the period. Ritholtz Wealth Management raised its position in Investors Title by 55.0% during the 2nd quarter. Ritholtz Wealth Management now owns 2,480 shares of the insurance provider’s stock valued at $447,000 after purchasing an additional 880 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of 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 buying an additional 174 shares during the period. American Century Companies Inc. grew its position in shares of Investors Title by 27.0% during the 2nd quarter. American Century Companies Inc. now owns 3,774 shares of the insurance provider’s stock worth $680,000 after buying an additional 803 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Investors Title during the third quarter valued at $117,000. 41.40% of the stock is currently owned by institutional investors.

Investors Title Stock Down 1.4 %

Shares of ITIC stock opened at $263.48 on Wednesday. The firm has a market cap of $496.40 million, a price-to-earnings ratio of 17.44 and a beta of 0.89. Investors Title has a 52-week low of $146.41 and a 52-week high of $290.40. The company’s 50 day moving average is $255.09 and its 200 day moving average is $221.04.

Investors Title Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $14.46 dividend. The ex-dividend date was Monday, December 2nd. This is an increase from Investors Title’s previous quarterly dividend of $0.46. This represents a $57.84 dividend on an annualized basis and a dividend yield of 21.95%. Investors Title’s dividend payout ratio (DPR) is currently 12.18%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Investors Title from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th.

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.