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Massachusetts Financial Services Co. MA Sells 8,075 Shares of Stewart Information Services Corporation (NYSE:STC)

Stewart Information Services logo with Finance background

Massachusetts Financial Services Co. MA reduced its position in Stewart Information Services Corporation (NYSE:STC - Free Report) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 332,387 shares of the insurance provider's stock after selling 8,075 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.20% of Stewart Information Services worth $23,716,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of STC. Sterling Capital Management LLC grew its holdings in Stewart Information Services by 807.4% in the 4th quarter. Sterling Capital Management LLC now owns 853 shares of the insurance provider's stock valued at $58,000 after buying an additional 759 shares during the period. State of Wyoming lifted its position in Stewart Information Services by 84.0% during the 4th quarter. State of Wyoming now owns 1,461 shares of the insurance provider's stock worth $99,000 after acquiring an additional 667 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in Stewart Information Services by 6.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,831 shares of the insurance provider's stock worth $191,000 after acquiring an additional 170 shares in the last quarter. Vident Advisory LLC lifted its position in Stewart Information Services by 7.5% during the 4th quarter. Vident Advisory LLC now owns 2,982 shares of the insurance provider's stock worth $201,000 after acquiring an additional 208 shares in the last quarter. Finally, Montchanin Asset Management LLC acquired a new position in Stewart Information Services during the 4th quarter worth approximately $206,000. 96.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on STC. Wall Street Zen cut Stewart Information Services from a "buy" rating to a "hold" rating in a research note on Thursday, April 24th. Keefe, Bruyette & Woods reduced their target price on Stewart Information Services from $75.00 to $72.00 and set a "market perform" rating for the company in a report on Thursday, July 10th.

Read Our Latest Stock Analysis on STC

Insiders Place Their Bets

In other Stewart Information Services news, Director C Allen Bradley, Jr. acquired 1,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was bought at an average price of $59.63 per share, with a total value of $59,630.00. Following the purchase, the director owned 20,243 shares in the company, valued at approximately $1,207,090.09. The trade was a 5.20% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.78% of the stock is currently owned by company insiders.

Stewart Information Services Stock Performance

Shares of STC traded up $0.92 during mid-day trading on Tuesday, hitting $59.26. The stock had a trading volume of 181,830 shares, compared to its average volume of 174,145. The business has a fifty day moving average price of $62.41 and a 200-day moving average price of $65.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.77 and a quick ratio of 1.77. Stewart Information Services Corporation has a 52 week low of $56.39 and a 52 week high of $78.44. The firm has a market cap of $1.65 billion, a P/E ratio of 22.79 and a beta of 0.99.

Stewart Information Services (NYSE:STC - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The insurance provider reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.09). Stewart Information Services had a return on equity of 6.92% and a net margin of 2.88%. The business had revenue of $608.90 million during the quarter, compared to analysts' expectations of $595.50 million. During the same period last year, the firm posted $0.17 EPS. Stewart Information Services's quarterly revenue was up 10.4% compared to the same quarter last year. On average, equities research analysts expect that Stewart Information Services Corporation will post 6.29 EPS for the current year.

Stewart Information Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.37%. Stewart Information Services's dividend payout ratio is presently 76.92%.

Stewart Information Services Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Stewart Information Services (NYSE:STC)

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