Jacobs Levy Equity Management Inc. Sells 34,304 Shares of Stewart Information Services Corporation $STC

Key Points

• Jacobs Levy Equity Management Inc. reduced its holdings in Stewart Information Services Corporation by 33.7%, owning approximately $4.82 million or 67,526 shares after selling 34,304 shares in the first quarter of the year.
• Stewart Information Services recently announced a quarterly dividend increase from $0.50 to $0.525, scheduled for payment on September 30th, resulting in a 2.8% dividend yield.
• The company reported earnings of $1.34 per share for the last quarter, exceeding estimates, with a revenue of $721.50 million, reflecting a 19.9% year-over-year increase.

Jacobs Levy Equity Management Inc. cut its stake in shares of Stewart Information Services Corporation (NYSE:STC - Free Report) by 33.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,526 shares of the insurance provider's stock after selling 34,304 shares during the period. Jacobs Levy Equity Management Inc. owned 0.24% of Stewart Information Services worth $4,818,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of STC. State of Wyoming increased its position in shares of Stewart Information Services by 84.0% during the fourth quarter. State of Wyoming now owns 1,461 shares of the insurance provider's stock valued at $99,000 after buying an additional 667 shares during the period. Vident Advisory LLC increased its position in shares of Stewart Information Services by 7.5% during the fourth quarter. Vident Advisory LLC now owns 2,982 shares of the insurance provider's stock valued at $201,000 after buying an additional 208 shares during the period. Montchanin Asset Management LLC bought a new stake in shares of Stewart Information Services during the fourth quarter valued at about $206,000. First Citizens Bank & Trust Co. bought a new stake in shares of Stewart Information Services during the first quarter valued at about $218,000. Finally, Kestra Private Wealth Services LLC bought a new stake in shares of Stewart Information Services during the first quarter valued at about $227,000. 96.90% of the stock is currently owned by institutional investors.

Stewart Information Services Price Performance

NYSE STC traded down $0.30 on Friday, reaching $74.61. 108,117 shares of the company's stock traded hands, compared to its average volume of 135,957. Stewart Information Services Corporation has a 12 month low of $56.39 and a 12 month high of $78.44. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.91 and a quick ratio of 1.91. The stock has a 50-day simple moving average of $67.77 and a 200 day simple moving average of $66.53. The stock has a market cap of $2.09 billion, a PE ratio of 23.99 and a beta of 0.94.

Stewart Information Services (NYSE:STC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.34 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $721.50 million for the quarter, compared to analysts' expectations of $671.90 million. During the same period last year, the business earned $0.91 earnings per share. The business's quarterly revenue was up 19.9% on a year-over-year basis. As a group, research analysts predict that Stewart Information Services Corporation will post 6.29 earnings per share for the current year.

Stewart Information Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.525 per share. The ex-dividend date is Tuesday, September 16th. This is an increase from Stewart Information Services's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 2.8%. Stewart Information Services's dividend payout ratio (DPR) is 64.31%.

Insider Buying and Selling

In other news, CFO David C. Hisey sold 2,224 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $64.39, for a total value of $143,203.36. Following the transaction, the chief financial officer owned 58,359 shares in the company, valued at approximately $3,757,736.01. This trade represents a 3.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brad Rable sold 5,694 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $65.32, for a total transaction of $371,932.08. Following the completion of the transaction, the insider owned 23,872 shares in the company, valued at $1,559,319.04. This represents a 19.26% decrease in their position. The disclosure for this sale can be found here. 2.78% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Stewart Information Services 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.