Welcome to our dedicated page for Investors Title Co Nc news (Ticker: ITIC), a resource for investors and traders seeking the latest updates and insights on Investors Title Co Nc stock.
Investors Title Company (NASDAQ: ITIC) is a publicly held North Carolina company engaged in issuing and underwriting title insurance policies, along with related financial services. Its news flow reflects its role in the direct property and casualty insurance carriers industry and its focus on title insurance, tax-deferred exchanges of like-kind property, and investment management services.
On this page, readers can review company-issued press releases and third-party coverage that discuss quarterly and annual financial results, dividend declarations, and credit rating actions. Earnings announcements detail trends in net premiums written, escrow and other title-related fees, non-title services revenue, and investment income, as well as management commentary on real estate activity levels, mortgage interest rate trends and cost management efforts.
Regular updates also include Board decisions on cash dividends, such as recurring quarterly dividends and, at times, special cash dividends funded from existing cash balances. These items provide insight into the company’s approach to capital distribution and shareholder returns.
In addition, AM Best rating actions are covered in the news stream. AM Best has affirmed the Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of “a” (Excellent) for Investors Title Insurance Company and National Investors Title Insurance Company, and a Long-Term Issuer Credit Rating of “bbb” (Good) for Investors Title Company, with a stable outlook. These rating updates offer perspective on balance sheet strength, operating performance and business profile as assessed by an external credit rating agency.
Investors, analysts and other interested readers can use this news page to follow developments related to Investors Title Company’s financial performance, dividend activity and insurance credit ratings over time.
Investors Title Company (NASDAQ: ITIC) has declared a cash dividend of $.46 per share for shareholders of record on March 21, 2023, payable on March 31, 2023. This announcement highlights the company's ongoing commitment to returning value to its shareholders. Investors Title Company operates in the title insurance sector and also offers related services, including tax-deferred exchanges and investment management. The firm is publicly traded on the Nasdaq Global Select Market and is based in North Carolina.
Investors Title Company reported a significant decline in net income for Q4 2022, down 60.2% to $7.5 million, or $3.97 per share, compared to $18.9 million in Q4 2021. Annual net income decreased 64.3% to $23.9 million, with revenues falling 14.0% to $283.4 million. The decrease in revenues was primarily driven by a 32.1% drop in net premiums written due to lower real estate transaction volumes amid rising mortgage rates. Despite these challenges, escrow fee and non-title service revenues increased by 27.1% and 97.8%, respectively. Operating expenses rose 3.6% year-over-year, primarily from higher personnel costs. The company anticipates ongoing challenges but recognizes potential recovery in the market.
Investors Title Company (Nasdaq: ITIC) has declared a special cash dividend of $3.00 per share for shareholders of record on December 1, 2022, payable on December 15, 2022. Additionally, a regular quarterly cash dividend of $.46 per share has been announced for the same record date. The special dividend is supported by the company’s strong financial position and positive outlook on its future performance, according to Chairman J. Allen Fine. These dividends reflect the company's confidence and commitment to returning capital to shareholders.
Investors Title Company (Nasdaq: ITIC) reported third-quarter results for 2022, showing a net income of $7.9 million, or $4.17 per diluted share, down from $14.5 million, or $7.63 per diluted share in the previous year. Revenues fell by 4.2% to $78.0 million, largely due to a $4.6 million unrealized loss in their equity portfolio and a 7.9% drop in net premiums written. Operating expenses rose 7.8%, driven by personnel costs and technology investments. Despite these challenges, the company noted a substantial 54.4% increase in escrow and title-related fees.
AM Best has affirmed the Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Ratings of 'a' (Excellent) for Investors Title Company (ITC) and its subsidiaries. These ratings reflect ITC Group's very strong balance sheet strength assessed by Best's Capital Adequacy Ratio (BCAR), along with strong operating performance and appropriate enterprise risk management practices. The stable outlook indicates continued positive performance, driven by low loss ratios and robust return metrics.
Investors Title Company (Nasdaq: ITIC) has announced a cash dividend of
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