Rhumbline Advisers Has $5.83 Million Stock Holdings in Stewart Information Services Corporation $STC

Key Points

• Rhumbline Advisers reduced its stake in Stewart Information Services Corporation by 4% to hold 81,744 shares, valued at approximately $5.83 million.
• The company recently reported earnings of $1.34 per share, exceeding analyst expectations, with a revenue of $721.5 million for the quarter, marking a 19.9% increase year-over-year.
• Stewart Information Services announced a quarterly dividend increase to $0.525 per share, representing a 2.8% dividend yield based on the new annualized amount.

Rhumbline Advisers trimmed its stake in Stewart Information Services Corporation (NYSE:STC - Free Report) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 81,744 shares of the insurance provider's stock after selling 3,379 shares during the quarter. Rhumbline Advisers owned about 0.29% of Stewart Information Services worth $5,832,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its holdings in Stewart Information Services by 1.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,682,009 shares of the insurance provider's stock worth $120,600,000 after purchasing an additional 30,160 shares during the period. Millennium Management LLC grew its holdings in shares of Stewart Information Services by 5.0% during the first quarter. Millennium Management LLC now owns 996,558 shares of the insurance provider's stock valued at $71,104,000 after buying an additional 47,384 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Stewart Information Services by 18.6% during the first quarter. Victory Capital Management Inc. now owns 990,168 shares of the insurance provider's stock valued at $70,648,000 after buying an additional 155,210 shares during the last quarter. Cooke & Bieler LP grew its holdings in shares of Stewart Information Services by 5.8% during the first quarter. Cooke & Bieler LP now owns 449,672 shares of the insurance provider's stock valued at $32,084,000 after buying an additional 24,840 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Stewart Information Services by 0.4% during the first 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. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on STC. Wall Street Zen upgraded shares of Stewart Information Services from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Keefe, Bruyette & Woods lifted their price objective on shares of Stewart Information Services from $72.00 to $73.00 and gave the company a "market perform" rating in a report on Monday, July 28th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $77.50.

Insider Activity at Stewart Information Services

In other news, insider Brad Rable sold 5,694 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $65.32, for a total value of $371,932.08. Following the sale, the insider owned 23,872 shares of the company's stock, valued at $1,559,319.04. The trade was a 19.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David C. Hisey sold 2,224 shares of the business'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 transaction of $143,203.36. Following the completion of the sale, the chief financial officer directly owned 58,359 shares in the company, valued at approximately $3,757,736.01. This trade represents a 3.67% 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 Stock Down 0.4%

STC opened at $74.61 on Friday. 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 company's 50-day moving average is $67.77 and its 200 day moving average is $66.58. Stewart Information Services Corporation has a fifty-two week low of $56.39 and a fifty-two week high of $78.44. The firm has a market capitalization of $2.09 billion, a P/E ratio of 23.99 and a beta of 0.94.

Stewart Information Services (NYSE:STC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The insurance provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.30 by $0.04. The business had revenue of $721.50 million for the quarter, compared to analyst estimates of $671.90 million. Stewart Information Services had a net margin of 3.29% and a return on equity of 7.71%. The company's revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 2.8%. This is an increase from Stewart Information Services's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, September 16th. Stewart Information Services's payout ratio is presently 67.52%.

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.

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