Stewart Information Services Corporation (NYSE:STC – Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $57.00 and last traded at $57.1570, with a volume of 7609 shares traded. The stock had previously closed at $57.54.
Wall Street Analysts Forecast Growth
STC has been the subject of several recent research reports. Keefe, Bruyette & Woods lowered shares of Stewart Information Services from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $77.00 to $71.00 in a research note on Monday, July 27th. Zacks Research raised shares of Stewart Information Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 22nd. Wall Street Zen lowered shares of Stewart Information Services from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings cut shares of Stewart Information Services from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 18th. Finally, Benchmark assumed coverage on shares of Stewart Information Services in a research note on Tuesday, July 21st. They issued a “buy” rating and a $87.00 price target for the company. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Stewart Information Services has a consensus rating of “Moderate Buy” and a consensus price target of $81.50.
View Our Latest Stock Analysis on Stewart Information Services
Stewart Information Services Stock Performance
Stewart Information Services (NYSE:STC – Get Free Report) last issued its earnings results on Wednesday, July 22nd. The insurance provider reported $1.39 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.24). Stewart Information Services had a net margin of 4.12% and a return on equity of 10.02%. The firm had revenue of $895.80 million during the quarter, compared to analyst estimates of $838.07 million. During the same period last year, the business earned $1.34 EPS. The firm’s revenue was up 24.5% compared to the same quarter last year. On average, analysts forecast that Stewart Information Services Corporation will post 5.26 EPS for the current year.
Stewart Information Services Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.55 per share. This is an increase from Stewart Information Services’s previous quarterly dividend of $0.5250. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.20 annualized dividend and a dividend yield of 3.9%. Stewart Information Services’s dividend payout ratio is presently 48.25%.
Insider Activity at Stewart Information Services
In related news, insider Brian Glaze sold 1,500 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $69.16, for a total value of $103,740.00. Following the transaction, the insider owned 11,784 shares of the company’s stock, valued at $814,981.44. This represents a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.94% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Stewart Information Services during the 2nd quarter worth about $347,274,000. Capital International Investors increased its stake in Stewart Information Services by 10.2% in the fourth quarter. Capital International Investors now owns 842,077 shares of the insurance provider’s stock valued at $59,164,000 after purchasing an additional 77,618 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Stewart Information Services in the second quarter valued at approximately $17,759,000. Bank of America Corp DE increased its stake in Stewart Information Services by 1.2% in the first quarter. Bank of America Corp DE now owns 215,213 shares of the insurance provider’s stock valued at $13,253,000 after purchasing an additional 2,631 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Stewart Information Services by 10.0% during the first quarter. Principal Financial Group Inc. now owns 146,870 shares of the insurance provider’s stock worth $9,044,000 after purchasing an additional 13,317 shares in the last quarter. 96.90% of the stock is owned by institutional investors and hedge funds.
Stewart Information Services Company Profile
Stewart Information Services Corporation is a title insurance and real estate services company headquartered in Houston, Texas. Through its Stewart Title operations, the company provides title insurance, escrow and closing services, and related services that help protect property buyers, lenders and other participants in real estate transactions from title defects and ownership-related risks.
The company also offers valuation and appraisal services, mortgage services, and technology-enabled solutions for the real estate and mortgage industries.
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