Balyasny Asset Management L.P. Buys Shares of 5,973 Stewart Information Services Co. (NYSE:STC)

Balyasny Asset Management L.P. purchased a new stake in Stewart Information Services Co. (NYSE:STC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,973 shares of the insurance provider's stock, valued at approximately $403,000.

Several other large investors have also recently bought and sold shares of STC. Allspring Global Investments Holdings LLC boosted its holdings in shares of Stewart Information Services by 0.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,651,849 shares of the insurance provider's stock worth $108,741,000 after acquiring an additional 10,132 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Stewart Information Services by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 542,367 shares of the insurance provider's stock worth $36,604,000 after purchasing an additional 5,748 shares during the last quarter. Invesco Ltd. boosted its stake in Stewart Information Services by 6.2% in the 4th quarter. Invesco Ltd. now owns 352,477 shares of the insurance provider's stock valued at $23,789,000 after purchasing an additional 20,465 shares during the period. Bank of America Corp DE grew its holdings in Stewart Information Services by 4.1% in the 4th quarter. Bank of America Corp DE now owns 316,444 shares of the insurance provider's stock valued at $21,357,000 after buying an additional 12,455 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Stewart Information Services by 10.9% in the 4th quarter. Bank of New York Mellon Corp now owns 299,375 shares of the insurance provider's stock valued at $20,205,000 after buying an additional 29,496 shares in the last quarter. 96.90% of the stock is owned by institutional investors.

Stewart Information Services Price Performance

NYSE STC traded down $1.51 during midday trading on Thursday, hitting $60.60. The company had a trading volume of 8,117 shares, compared to its average volume of 168,080. The firm has a 50-day moving average price of $66.98 and a 200-day moving average price of $68.56. The company has a market capitalization of $1.69 billion, a PE ratio of 23.31 and a beta of 1.01. The company has a current ratio of 1.86, a quick ratio of 1.94 and a debt-to-equity ratio of 0.32. Stewart Information Services Co. has a twelve month low of $58.61 and a twelve month high of $78.44.

Stewart Information Services (NYSE:STC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.09). The company had revenue of $608.90 million during the quarter, compared to analyst estimates of $595.50 million. Stewart Information Services had a net margin of 2.94% and a return on equity of 6.81%. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the firm earned $0.17 EPS. As a group, analysts anticipate that Stewart Information Services Co. will post 6.29 earnings per share for the current fiscal year.

Stewart Information Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Monday, March 17th. Stewart Information Services's payout ratio is presently 76.92%.

Analyst Ratings Changes

STC has been the subject of a number of research reports. Stephens reissued an "overweight" rating and set a $82.00 target price on shares of Stewart Information Services in a report on Thursday, February 6th. StockNews.com cut shares of Stewart Information Services from a "buy" rating to a "hold" rating in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Stewart Information Services from $74.00 to $75.00 and gave the stock a "market perform" rating in a research report on Friday, February 7th.

About Stewart Information Services

Stewart Information Services Corporation, through its subsidiaries, provides title insurance and real estate transaction related services in the United States and internationally. The company involves in searching, examining, closing, and insuring the condition of the title to real property. It also offers home and personal insurance services; services for tax-deferred exchanges; and digital customer engagement platform services.