Company profile

Ticker
ITIC
Exchange
CEO
James Allen Fine
Employees
Incorporated in
Location
Fiscal year end
Industry (SEC)
SEC CIK
IRS number
561110199

ITIC stock data

(
)

Calendar

8 May 20
8 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 29.9M 52.88M 47.94M 42.73M
Net income -7.01M 11.38M 7.95M 5.5M
Diluted EPS -3.71 6.41 4.2 2.9
Net profit margin -23.45% 21.52% 16.59% 12.87%
Net change in cash -625K -18.04M 7.32M 14.63M
Cash on hand 25.32M 25.95M 43.99M 36.68M
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 183.5M 156.26M 161.63M 138.49M
Net income 31.46M 21.86M 25.7M 19.52M
Diluted EPS 17 11.54 13.56 10.19
Net profit margin 17.14% 13.99% 15.90% 14.09%
Net change in cash 7.26M -1.52M -7.71M 6.14M
Cash on hand 25.95M 18.69M 20.21M 27.93M

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
20 May 20 Tammy Coley Stock Appreciation Right Common Stock Grant Aquire A No 122.8 750 92.1K 0
20 May 20 David L Francis Stock Appreciation Right Common Stock Grant Aquire A No 122.8 750 92.1K 0
20 May 20 Jr. Elton C. Parker, Stock Appreciation Right Common Stock Grant Aquire A No 122.8 750 92.1K 0
20 May 20 Richard M Hutson II Stock Appreciation Right Common Stock Grant Aquire A No 122.8 750 92.1K 0
20 May 20 James R Morton Stock Appreciation Right Common Stock Grant Aquire A No 122.8 750 92.1K 0
43.8% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 70 67 +4.5%
Opened positions 7 12 -41.7%
Closed positions 4 10 -60.0%
Increased positions 22 22
Reduced positions 22 14 +57.1%
13F shares
Current Prev Q Change
Total value 161.52M 174.75M -7.6%
Total shares 828.44K 781.02K +6.1%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
MKL Markel 213.3K $27.3M 0.0%
Dimensional Fund Advisors 120.05K $15.37M -7.4%
BLK BlackRock 111.29K $14.25M +0.1%
Vanguard 105.81K $13.54M +60.6%
Renaissance Technologies 24.9K $3.19M +2.5%
STT State Street 24.32K $3.11M -3.4%
NTRS Northern Trust 23.19K $2.97M +3.9%
Geode Capital Management 20.93K $2.68M +10.3%
WFC Wells Fargo & Company 19.81K $2.54M +1.8%
Eaton Vance Management 11.62K $1.49M 0.0%
Largest transactions
Shares Bought/sold Change
Vanguard 105.81K +39.93K +60.6%
Dimensional Fund Advisors 120.05K -9.63K -7.4%
Martingale Asset Management L P 9.1K +5.2K +133.3%
GHP Investment Advisors 6.95K +5.08K +270.1%
Bessemer 5.3K +3.7K +231.3%
Nuveen Asset Management 6.53K +3.61K +123.6%
Jane Street 0 -2.92K EXIT
IVZ Invesco 2.83K +2.83K NEW
Millennium Management 1.98K +1.98K NEW
Geode Capital Management 20.93K +1.95K +10.3%

Financial report summary

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Risks
  • Adverse changes in economic conditions, especially those related to real estate activity, may negatively impact the Company’s results of operations and financial condition.
  • The Company may experience material losses resulting from fraud, defalcation or misconduct.
  • The Company relies upon the North Carolina, Texas, Georgia and South Carolina markets for a significant portion of its premiums. Changes in the economic or regulatory environments in these states could have an adverse impact on the Company.
  • Adverse deviation of actual claims experience from expected claims experience will result in lower net earnings.
  • Breaches and failures of, and other disruptions to, the Company’s information technology systems may disrupt the Company’s operations, result in monetary losses and harm the Company’s reputation.
  • The Company’s insurance subsidiaries are subject to complex government regulations. Changes in regulations may have an adverse effect on the Company’s results of operations.
  • Deterioration in financial markets may cause a decline in the performance of the Company’s investments and could have a material adverse impact on net income.
  • A downgrade from a rating agency could result in a loss of underwriting business.
  • Title insurance rate regulation could have an adverse impact on the Company’s results of operations.
  • The Company may encounter difficulties managing system or technological changes, which could adversely affect its financial and operating results.
  • Financial institution failures could adversely affect the Company.
  • The Company may encounter difficulties managing growth, which could adversely affect its operating results.
  • The Company depends on its ability to attract and retain key personnel and agents, and its inability to do so could adversely affect its business.
  • Policies and procedures for the mitigation of risk may not be sufficient.
  • Regulatory investigations of the title insurance industry by governmental entities could adversely impact the Company’s results of operations.
  • Mortgage lending is highly concentrated and changes in relationships with lenders or reform of government-sponsored entities could adversely affect the Company.
  • Unfavorable economic or other conditions could cause the Company to record impairment charges for all or a portion of its goodwill and other intangible assets.
  • Certain provisions of the Company’s shareholder rights plan may deter or discourage a takeover of the Company.
Management Discussion
  • Net premiums written increased 5.6% in 2019 to $145.8 million, compared with $138.1 million in 2018, and decreased 1.7% in 2018, compared with $140.5 million in 2017. The increase in 2019, compared with 2018, was primarily due to favorable interest rates, higher home prices, and higher levels of both refinance and refinance activity. The decrease in 2018, compared with 2017, was primarily due to a decline in refinance activity, partially offset by an increase in purchase activity and higher real estate values.
  • Title insurance companies typically issue title insurance policies directly through home and branch offices or through title agencies. Following is a breakdown of premiums generated by branch and agency operations for the years ended December 31:
  • Home and Branch Office Net Premiums: In the Company’s home and branch operations, the Company issues the insurance policy and retains the entire premium, as no commissions are paid in connection with these policies. Net premiums written from home and branch operations decreased 1.6% in 2019 to $40.6 million, compared with $41.3 million in 2018, and increased 2.2% in 2018, compared with $40.4 million in 2017. The decrease in net premiums written from home and branch operations for 2019, compared with 2018, was primarily due to a shift in market mix from purchase transactions to refinance transactions. The increase in net premiums written from home and branch operations for 2018, compared with 2017, was primarily due to an increase in purchase activity and higher real estate values, partially offset by a decline in refinance activity.
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Bad
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