Pinnacle Financial Partners Inc Invests $283,000 in Stewart Information Services Corporation (NYSE:STC)

Pinnacle Financial Partners Inc purchased a new stake in Stewart Information Services Corporation (NYSE:STC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,968 shares of the insurance provider's stock, valued at approximately $283,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Capital International Investors acquired a new stake in Stewart Information Services in the 4th quarter valued at $15,890,000. Raymond James Financial Inc. purchased a new position in Stewart Information Services during the fourth quarter valued at $4,034,000. JPMorgan Chase & Co. grew its position in shares of Stewart Information Services by 93.7% in the fourth quarter. JPMorgan Chase & Co. now owns 103,601 shares of the insurance provider's stock valued at $6,992,000 after purchasing an additional 50,113 shares during the period. AXA S.A. purchased a new stake in shares of Stewart Information Services during the fourth quarter worth about $2,643,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of Stewart Information Services by 12.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 292,776 shares of the insurance provider's stock worth $19,759,000 after purchasing an additional 32,638 shares during the last quarter. Hedge funds and other institutional investors own 96.90% of the company's stock.

Insiders Place Their Bets

In related news, Director C Allen Bradley, Jr. bought 1,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were acquired at an average cost of $59.63 per share, for a total transaction of $59,630.00. Following the acquisition, the director directly owned 20,243 shares in the company, valued at approximately $1,207,090.09. This trade represents a 5.20% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Stewart Information Services from a "buy" rating to a "hold" rating in a report on Thursday, April 24th.

Stewart Information Services Trading Up 1.1%

Shares of STC stock opened at $66.91 on Friday. Stewart Information Services Corporation has a fifty-two week low of $58.61 and a fifty-two week high of $78.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.77 and a current ratio of 1.77. The stock's fifty day moving average is $63.48 and its two-hundred day moving average is $66.17. The firm has a market capitalization of $1.87 billion, a P/E ratio of 25.73 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 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.09). The business had revenue of $608.90 million during the quarter, compared to analyst estimates of $595.50 million. Stewart Information Services had a net margin of 2.88% and a return on equity of 6.92%. Stewart Information Services's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the company earned $0.17 earnings per share. Research analysts expect that Stewart Information Services Corporation will post 6.29 earnings per share for the current fiscal year.

Stewart Information Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a $0.50 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.99%. Stewart Information Services's payout ratio is 76.92%.

About Stewart Information Services

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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