Investors Title Co Nc Stock Price, News & Analysis

Investors Title Company (ITIC) reported strong Q4 2024 results with net income of $8.4 million ($4.41 per diluted share), up from $5.8 million ($3.09 per diluted share) in Q4 2023. Revenues increased 31.6% to $70.6 million, driven by higher net premiums written and escrow fees.

For the full year 2024, net income rose to $31.1 million ($16.43 per diluted share) from $21.7 million in 2023. Annual revenues grew 14.9% to $258.3 million, while operating expenses increased 10.2% to $218.8 million.

The company's performance improved despite challenging real estate market conditions, with home sales at a 30-year low. Growth was supported by ongoing expansion initiatives, lower average mortgage interest rates, and home price appreciation. Operating expenses were well-controlled, with higher agent commissions offset by reduced personnel costs from lower staffing levels.

AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of 'a' (Excellent) for Investors Title Company Group's subsidiaries. The company's Long-Term ICR of 'bbb' (Good) was also affirmed with a stable outlook. The ratings reflect ITC Group's very strong balance sheet strength, strong operating performance, and appropriate enterprise risk management. The company demonstrates strongest risk-adjusted capitalization and consistently outperforms industry averages in loss and loss adjustment expense ratios, leading to superior return on equity and revenue compared to peers. The group's business is primarily concentrated in North Carolina and Texas.

Investors Title Company (Nasdaq: ITIC) has announced two dividend distributions: a special cash dividend of $14.00 per share and a regular quarterly cash dividend of $0.46 per share. Both dividends will be paid on December 16, 2024, to shareholders of record as of December 2, 2024. The special dividend will be funded through existing cash balances. The company operates in title insurance policy issuance and underwriting, while also providing tax-deferred exchange services and investment management services.

Investors Title Company (Nasdaq: ITIC) has announced a quarterly cash dividend of $0.46 per share. The dividend will be payable on September 16, 2024, to shareholders of record as of September 3, 2024. Investors Title Company is a publicly-held North Carolina company traded on The Nasdaq Global Select Market. The company specializes in issuing and underwriting title insurance policies. Additionally, it offers services related to tax-deferred exchanges of like-kind property and provides investment management services to individuals, companies, banks, and trusts.

Investors Title Company (Nasdaq: ITIC) reported strong Q2 2024 results, with net income increasing 17.0% to $8.9 million ($4.70 per diluted share) compared to $7.6 million ($4.00 per diluted share) in Q2 2023. Revenues rose 12.1% to $65.4 million, driven by higher premiums from increased market activity and rising home prices. Operating expenses grew 11.7%, mainly due to higher agent commissions. For H1 2024, net income jumped to $13.4 million ($7.10 per diluted share) from $8.8 million ($4.62 per diluted share) in H1 2023. The company noted improved real estate market conditions, with declining mortgage rates and increased home inventories potentially signaling a positive outlook for the sector.

Investors Title Company (Nasdaq: ITIC) announced a cash dividend of $0.46 per share, declared by its Board of Directors. Shareholders of record on June 14, 2024, will receive the dividend on June 28, 2024.

Investors Title Company, based in Chapel Hill, NC, is publicly traded on The Nasdaq Global Select Market. The company specializes in issuing and underwriting title insurance policies and also provides services for tax-deferred exchanges and investment management to various clients.

Investors Title Company (Nasdaq: ITIC) announced first quarter 2024 results, reporting $4.5 million net income, $2.40 per diluted share, and $53.5 million revenues. Operating expenses decreased 4.3%, income before taxes increased to $5.8 million, and adjusted income before taxes (non-GAAP) rose to $3.4 million. Chairman highlighted revenue growth, cost reductions, and commitment to market expansion.