American Century Companies Inc. Boosts Stock Holdings in Stewart Information Services Corporation $STC

Key Points

• American Century Companies Inc. increased its stake in Stewart Information Services by 77.1%, owning 33,222 shares worth approximately $2.37 million as of the latest SEC filing.
• Several hedge funds have modified their holdings, with Teacher Retirement System of Texas increasing its stake by 381.3% during the first quarter.
• Analysts have improved their outlook on Stewart Information Services, with a consensus price target now set at $77.50 and a consensus rating of "Moderate Buy."

American Century Companies Inc. increased its stake in Stewart Information Services Corporation (NYSE:STC - Free Report) by 77.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,222 shares of the insurance provider's stock after purchasing an additional 14,468 shares during the quarter. American Century Companies Inc. owned approximately 0.12% of Stewart Information Services worth $2,370,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of STC. State of Wyoming raised its holdings in shares of Stewart Information Services by 84.0% in the 4th quarter. State of Wyoming now owns 1,461 shares of the insurance provider's stock worth $99,000 after purchasing an additional 667 shares during the period. Vident Advisory LLC raised its holdings 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 valued at $201,000 after acquiring an additional 208 shares during the period. Montchanin Asset Management LLC bought a new stake in Stewart Information Services during the 4th quarter valued at $206,000. First Citizens Bank & Trust Co. bought a new stake in Stewart Information Services during the 1st quarter valued at $218,000. Finally, Kestra Private Wealth Services LLC bought a new stake in Stewart Information Services during the 1st quarter valued at $227,000. Institutional investors own 96.90% of the company's stock.

Stewart Information Services Price Performance

Shares of STC traded up $1.44 during mid-day trading on Thursday, reaching $73.68. 80,837 shares of the stock traded hands, compared to its average volume of 183,783. The firm has a fifty day moving average price of $66.63 and a 200 day moving average price of $66.34. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 23.69 and a beta of 0.94. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.31. Stewart Information Services Corporation has a 1 year low of $56.39 and a 1 year high of $78.44.

Stewart Information Services (NYSE:STC - Get Free Report) last released 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 firm had revenue of $721.50 million during the quarter, compared to analyst estimates of $671.90 million. During the same period in the previous year, the business earned $0.91 EPS. The business's revenue for the quarter was up 19.9% on a year-over-year basis. As a group, equities 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 2.9%. This is a boost from Stewart Information Services's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, September 16th. Stewart Information Services's dividend payout ratio (DPR) is presently 64.31%.

Insider Buying and Selling at Stewart Information Services

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on STC shares. Keefe, Bruyette & Woods boosted their target price 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. Wall Street Zen raised shares of Stewart Information Services from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $77.50.

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.