BlackRock Inc. Purchases New Position in Stewart Information Services Corporation $STC

Key Points

• BlackRock acquired 5.26 million shares of Stewart Information Services in the second quarter, valued at approximately $347.3 million and representing a 17.29% stake. Institutional investors collectively own 96.9% of the company.
• Stewart reported quarterly revenue of $895.8 million, up 24.5% year over year and above analyst expectations, but earnings per share of $1.39 missed the $1.63 consensus estimate. The company expects full-year EPS of $5.26.
• The stock recently traded at $69.35, while analysts’ consensus price target is $81.50 and the average rating is “Moderate Buy.” Stewart also maintains a quarterly dividend of $0.525, equivalent to a 3.0% annual yield.

BlackRock Inc. purchased a new stake in shares of Stewart Information Services Corporation (NYSE:STC - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,260,136 shares of the insurance provider's stock, valued at approximately $347,274,000. BlackRock Inc. owned about 17.29% of Stewart Information Services at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new position in shares of Stewart Information Services during the fourth quarter valued at approximately $43,000. Horizon Investments LLC bought a new position in shares of Stewart Information Services during the fourth quarter valued at approximately $65,000. Kemnay Advisory Services Inc. purchased a new stake in Stewart Information Services in the fourth quarter worth $66,000. Clearstead Advisors LLC lifted its stake in Stewart Information Services by 50.9% in the fourth quarter. Clearstead Advisors LLC now owns 981 shares of the insurance provider's stock worth $69,000 after acquiring an additional 331 shares during the period. Finally, Persistent Asset Partners Ltd bought a new stake in Stewart Information Services in the second quarter valued at $84,000. Hedge funds and other institutional investors own 96.90% of the company's stock.

Stewart Information Services Price Performance

Shares of STC stock opened at $69.35 on Wednesday. The business's fifty day moving average is $68.03 and its 200 day moving average is $66.89. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.39. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 15.21 and a beta of 0.98. Stewart Information Services Corporation has a twelve month low of $57.10 and a twelve month high of $78.61.

Stewart Information Services (NYSE:STC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $1.39 EPS 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 for the quarter, compared to analysts' expectations of $838.07 million. During the same period in the prior year, the business posted $1.34 EPS. The business's quarterly revenue was up 24.5% compared to the same quarter last year. Research analysts expect that Stewart Information Services Corporation will post 5.26 EPS for the current fiscal year.

Stewart Information Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, June 15th. Stewart Information Services's dividend payout ratio (DPR) is presently 46.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on STC. Stephens reissued an "overweight" rating and set a $88.00 price objective on shares of Stewart Information Services in a research report on Monday, May 18th. Keefe, Bruyette & Woods cut shares of Stewart Information Services from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $77.00 to $71.00 in a research report on Monday, July 27th. Zacks Research lowered shares of Stewart Information Services from a "hold" rating to a "strong sell" rating in a research note on Monday, July 27th. Weiss Ratings upgraded shares of Stewart Information Services from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, June 5th. Finally, Wall Street Zen downgraded shares of Stewart Information Services from a "buy" rating to a "hold" rating in a research note on Saturday, July 25th. 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $81.50.

Insider Transactions at Stewart Information Services

In other Stewart Information Services news, Director C Allen Bradley, Jr. acquired 1,000 shares of the business's stock in a transaction on Monday, June 1st. The shares were acquired at an average price of $63.87 per share, for a total transaction of $63,870.00. Following the completion of the acquisition, the director owned 25,034 shares in the company, valued at $1,598,921.58. This trade represents a 4.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Glaze sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $69.16, for a total transaction of $103,740.00. Following the transaction, the insider directly owned 11,784 shares of the company's stock, valued at $814,981.44. This represents a 11.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.94% of the company's stock.

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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