Stewart Information Services (NYSE:STC) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Stewart Information Services (NYSE:STC – Get Rating) from a hold rating to a buy rating in a research report released on Friday morning.

Separately, BTIG Research dropped their target price on shares of Stewart Information Services from $80.00 to $75.00 and set a buy rating for the company in a research report on Friday, July 8th.

Stewart Information Services Price Performance

Shares of NYSE:STC opened at $52.83 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.29 and a current ratio of 2.72. The firm has a fifty day moving average price of $51.32 and a 200 day moving average price of $58.35. Stewart Information Services has a fifty-two week low of $45.63 and a fifty-two week high of $81.00. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 4.91 and a beta of 1.14.

Stewart Information Services (NYSE:STC – Get Rating) last issued its earnings results on Wednesday, July 27th. The insurance provider reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.42. Stewart Information Services had a net margin of 8.40% and a return on equity of 22.56%. The firm had revenue of $844.07 million during the quarter, compared to analyst estimates of $757.03 million. During the same quarter in the prior year, the business earned $3.17 earnings per share. Stewart Information Services’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, sell-side analysts expect that Stewart Information Services will post 8.05 earnings per share for the current fiscal year.

Stewart Information Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend was Tuesday, June 14th. Stewart Information Services’s dividend payout ratio (DPR) is 13.95%.

Insider Buying and Selling at Stewart Information Services

In other Stewart Information Services news, insider Steven Mark Lessack bought 3,000 shares of the business’s stock in a transaction on Thursday, May 12th. The shares were acquired at an average price of $55.20 per share, with a total value of $165,600.00. Following the transaction, the insider now owns 9,291 shares of the company’s stock, valued at approximately $512,863.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Steven Mark Lessack bought 3,000 shares of the stock in a transaction that occurred on Thursday, May 12th. The stock was bought at an average cost of $55.20 per share, for a total transaction of $165,600.00. Following the purchase, the insider now directly owns 9,291 shares of the company’s stock, valued at $512,863.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Frederick H. Eppinger bought 1,500 shares of the stock in a transaction that occurred on Wednesday, June 15th. The stock was bought at an average price of $48.91 per share, with a total value of $73,365.00. Following the completion of the purchase, the chief executive officer now directly owns 94,762 shares in the company, valued at $4,634,809.42. The disclosure for this purchase can be found here. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Stewart Information Services

Institutional investors have recently made changes to their positions in the company. Aviva PLC increased its holdings in Stewart Information Services by 12.4% in the 2nd quarter. Aviva PLC now owns 37,825 shares of the insurance provider’s stock worth $1,882,000 after acquiring an additional 4,182 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in Stewart Information Services by 13.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 28,478 shares of the insurance provider’s stock worth $1,417,000 after acquiring an additional 3,388 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Stewart Information Services by 571.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,050 shares of the insurance provider’s stock worth $351,000 after acquiring an additional 6,000 shares in the last quarter. First Horizon Advisors Inc. purchased a new stake in Stewart Information Services in the 2nd quarter worth $26,000. Finally, Victory Capital Management Inc. increased its holdings in Stewart Information Services by 8.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,071,920 shares of the insurance provider’s stock worth $53,328,000 after acquiring an additional 82,663 shares in the last quarter. 92.23% of the stock is owned by hedge funds and other institutional investors.

About Stewart Information Services

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Stewart Information Services Corporation, through its subsidiaries, provides title insurance and real estate transaction related services. The company operates in two segments, Title, and Ancillary Services and Corporate. The Title segment is involved in searching, examining, closing, and insuring the condition of the title to real property.