Bank of New York Mellon Corp Invests $17.76 Million in Stewart Information Services Corporation $STC

Key Points

• Bank of New York Mellon initiated a $17.76 million position in Stewart Information Services, buying 269,001 shares and ending the quarter with approximately 0.88% ownership. Institutional investors collectively hold 96.9% of STC’s outstanding shares.
• Analyst sentiment remains mixed but leans positive: STC has a consensus “Moderate Buy” rating and an average price target of $81.50, despite recent downgrades from some firms and a $71 target from Keefe, Bruyette & Woods.
• Stewart reported quarterly revenue of $895.8 million, up 24.5% year over year, but EPS of $1.39 fell short of estimates. The company raised its quarterly dividend to $0.55 per share, equivalent to an annualized $2.20 payout and a 3.2% yield.

Bank of New York Mellon Corp bought a new stake in Stewart Information Services Corporation (NYSE:STC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 269,001 shares of the insurance provider's stock, valued at approximately $17,759,000. Bank of New York Mellon Corp owned about 0.88% of Stewart Information Services at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of STC. ProShare Advisors LLC boosted its stake in shares of Stewart Information Services by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 5,407 shares of the insurance provider's stock valued at $380,000 after purchasing an additional 164 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Stewart Information Services by 0.9% in the third quarter. Alliancebernstein L.P. now owns 28,704 shares of the insurance provider's stock worth $2,105,000 after purchasing an additional 254 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in shares of Stewart Information Services by 7.0% in the first quarter. Maryland State Retirement & Pension System now owns 4,378 shares of the insurance provider's stock worth $270,000 after buying an additional 287 shares during the period. Illinois Municipal Retirement Fund raised its holdings in Stewart Information Services by 1.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 16,116 shares of the insurance provider's stock valued at $992,000 after buying an additional 308 shares during the last quarter. Finally, Clearstead Advisors LLC raised its holdings in Stewart Information Services by 50.9% during the 4th quarter. Clearstead Advisors LLC now owns 981 shares of the insurance provider's stock valued at $69,000 after buying an additional 331 shares during the last quarter. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on STC shares. Wall Street Zen lowered shares of Stewart Information Services from a "buy" rating to a "hold" rating in a report on Saturday, July 25th. Zacks Research cut Stewart Information Services from a "hold" rating to a "strong sell" rating in a research note on Monday, July 27th. Benchmark assumed coverage on Stewart Information Services in a report on Tuesday, July 21st. They set a "buy" rating and a $87.00 price target on the stock. Weiss Ratings raised Stewart Information Services from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, June 5th. Finally, Keefe, Bruyette & Woods cut Stewart Information Services from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $77.00 to $71.00 in a report on Monday, July 27th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $81.50.

Insider Buying and Selling at Stewart Information Services

In related news, insider Brian Glaze sold 1,500 shares of the company's stock in a transaction that occurred 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 sale, the insider owned 11,784 shares in the company, valued at $814,981.44. This represents a 11.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.94% of the stock is owned by insiders.

Stewart Information Services Stock Down 1.8%

Shares of NYSE:STC opened at $68.62 on Tuesday. The firm has a market capitalization of $2.09 billion, a P/E ratio of 15.05 and a beta of 0.98. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a 50 day moving average price of $68.31 and a 200-day moving average price of $66.85. Stewart Information Services Corporation has a 52-week low of $57.10 and a 52-week high of $78.61.

Stewart Information Services (NYSE:STC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $1.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.63 by ($0.24). Stewart Information Services had a return on equity of 10.02% and a net margin of 4.12%.The firm had revenue of $895.80 million during the quarter, compared to the consensus estimate of $838.07 million. During the same quarter last year, the company posted $1.34 EPS. Stewart Information Services's revenue for the quarter was up 24.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Stewart Information Services Corporation will post 5.26 EPS for the current fiscal year.

Stewart Information Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from Stewart Information Services's previous quarterly dividend of $0.53. Stewart Information Services's payout ratio is presently 46.05%.

Stewart Information Services Company Profile

Stewart Information Services Corporation NYSE: STC is a publicly traded provider of title insurance and real estate transaction services. The company underwrites title insurance policies for residential and commercial properties, offering lenders and property owners protection against title defects and liens. Beyond title insurance, Stewart delivers a range of ancillary services, including closing and escrow administration, property valuation, and risk mitigation solutions designed to streamline the mortgage process and reduce operational complexity for clients.

In addition to core title and settlement services, Stewart offers technology-driven products aimed at enhancing transparency and efficiency in real estate transactions.

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