2024-05-17 16:28:21 ET
Summary
- Investors Title Company has consistently reported positive earnings since 2009 and enjoys a very healthy balance sheet.
- Despite a decline in revenues compared to the surge in real estate activity during COVID, ITIC has shown long-term growth and has opportunities for expansion in Texas and Florida.
- ITIC's strong relationships with local attorneys in the South and its ability to launch adjacent operations have given the company a strong moat and additional income sources.
Investors Title Company ( ITIC ) ("ITC") was the first company I covered this year. At the time, I rated it a Buy. My previous thesis mainly considered:
- Consistent profits, even in tough years
- Small insurance liabilities against a large portfolio
- Steady buybacks and dividends
- Being a simple business done well
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For further details see:
Investors Title Company: A Solid, Growing NC Title Insurer