Hsbc Holdings PLC Acquires 4,894 Shares of Stewart Information Services Corporation $STC

Key Points

• Hsbc Holdings PLC increased its holdings in Stewart Information Services Corporation by 102.7% in the first quarter, owning a total of 9,659 shares valued at $687,000 after purchasing an additional 4,894 shares.
• Institutional investors collectively hold 96.90% of Stewart Information Services' stock, indicating significant institutional support and participation in the company's share structure.
• Stewart Information Services reported an earnings per share (EPS) of $1.34 for the latest quarter, surpassing analysts' estimates and marking a 19.9% increase in revenue year over year.

Hsbc Holdings PLC grew its holdings in shares of Stewart Information Services Corporation (NYSE:STC - Free Report) by 102.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,659 shares of the insurance provider's stock after purchasing an additional 4,894 shares during the quarter. Hsbc Holdings PLC's holdings in Stewart Information Services were worth $687,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of STC. Wellington Management Group LLP lifted its holdings in shares of Stewart Information Services by 89.1% during the first quarter. Wellington Management Group LLP now owns 114,291 shares of the insurance provider's stock worth $8,155,000 after purchasing an additional 53,860 shares during the period. Northern Trust Corp boosted its stake in shares of Stewart Information Services by 0.4% during the 1st quarter. Northern Trust Corp now owns 332,891 shares of the insurance provider's stock valued at $23,752,000 after buying an additional 1,460 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Stewart Information Services by 77.1% in the 1st quarter. American Century Companies Inc. now owns 33,222 shares of the insurance provider's stock valued at $2,370,000 after buying an additional 14,468 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Stewart Information Services by 3.3% during the first quarter. Russell Investments Group Ltd. now owns 54,084 shares of the insurance provider's stock valued at $3,859,000 after purchasing an additional 1,739 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its position in Stewart Information Services by 27.4% in the first quarter. Public Sector Pension Investment Board now owns 88,002 shares of the insurance provider's stock worth $6,279,000 after acquiring an additional 18,913 shares in the last quarter. Institutional investors and hedge funds own 96.90% of the company's stock.

Stewart Information Services Stock Performance

Shares of Stewart Information Services stock traded up $0.24 on Friday, reaching $74.22. The stock had a trading volume of 57,038 shares, compared to its average volume of 183,505. The business's 50-day moving average price is $66.81 and its two-hundred day moving average price is $66.38. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.91 and a current ratio of 1.91. Stewart Information Services Corporation has a fifty-two week low of $56.39 and a fifty-two week high of $78.44. The stock has a market cap of $2.08 billion, a P/E ratio of 23.86 and a beta of 0.94.

Stewart Information Services (NYSE:STC - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The insurance provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.30 by $0.04. Stewart Information Services had a net margin of 3.29% and a return on equity of 7.71%. The firm had revenue of $721.50 million for the quarter, compared to the consensus estimate of $671.90 million. During the same period last year, the company posted $0.91 EPS. The business's quarterly revenue was up 19.9% on a year-over-year basis. On average, sell-side analysts forecast that Stewart Information Services Corporation will post 6.29 EPS for the current year.

Stewart Information Services Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.8%. This is an increase from Stewart Information Services's previous quarterly dividend of $0.50. Stewart Information Services's payout ratio is presently 64.31%.

Analyst Ratings Changes

Several research firms recently commented on STC. Wall Street Zen upgraded shares of Stewart Information Services from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Keefe, Bruyette & Woods raised their price objective on Stewart Information Services from $72.00 to $73.00 and gave the company a "market perform" rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $77.50.

Insider Buying and Selling at Stewart Information Services

In related news, CFO David C. Hisey sold 2,224 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $64.39, for a total value of $143,203.36. Following the completion of the transaction, the chief financial officer directly owned 58,359 shares of the company's stock, valued at $3,757,736.01. This represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brad Rable sold 5,694 shares of the company's stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $65.32, for a total value of $371,932.08. Following the completion of the transaction, the insider directly owned 23,872 shares of the company's stock, valued at approximately $1,559,319.04. This trade represents a 19.26% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company's stock.

Stewart Information Services Company Profile

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.