Stewart Information Services Corporation $STC Shares Purchased by American Century Companies Inc.

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. grew its holdings in shares of Stewart Information Services Corporation (NYSE:STC - Free Report) by 77.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,222 shares of the insurance provider's stock after purchasing an additional 14,468 shares during the period. American Century Companies Inc. owned approximately 0.12% of Stewart Information Services worth $2,370,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in STC. State of Wyoming lifted its holdings in shares of Stewart Information Services by 84.0% during the 4th quarter. State of Wyoming now owns 1,461 shares of the insurance provider's stock valued at $99,000 after purchasing an additional 667 shares during the last quarter. Vident Advisory LLC lifted its holdings in shares of 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 purchasing an additional 208 shares during the last quarter. Montchanin Asset Management LLC purchased a new stake in shares of Stewart Information Services during the 4th quarter valued at $206,000. First Citizens Bank & Trust Co. purchased a new stake in shares of Stewart Information Services during the 1st quarter valued at $218,000. Finally, Kestra Private Wealth Services LLC purchased a new stake in shares of Stewart Information Services during the 1st quarter valued at $227,000. Hedge funds and other institutional investors own 96.90% of the company's stock.

Insider Activity

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

Stewart Information Services Stock Performance

STC stock traded down $0.33 during midday trading on Friday, reaching $73.65. The stock had a trading volume of 184,002 shares, compared to its average volume of 130,182. The stock has a market cap of $2.06 billion, a PE ratio of 23.68 and a beta of 0.94. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a fifty day simple moving average of $66.98 and a two-hundred day simple moving average of $66.42. Stewart Information Services Corporation has a 52-week low of $56.39 and a 52-week high of $78.44.

Stewart Information Services (NYSE:STC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The insurance provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.04. The company had revenue of $721.50 million for the quarter, compared to the consensus estimate of $671.90 million. Stewart Information Services had a return on equity of 7.71% and a net margin of 3.29%.The firm's revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. As a group, equities research analysts anticipate that Stewart Information Services Corporation will post 6.29 EPS for the current year.

Stewart Information Services Increases Dividend

The business 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 of this dividend is Tuesday, September 16th. This represents a $2.10 annualized dividend and a yield of 2.9%. This is an increase from Stewart Information Services's previous quarterly dividend of $0.50. Stewart Information Services's payout ratio is 64.31%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on STC shares. Wall Street Zen upgraded Stewart Information Services from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. Keefe, Bruyette & Woods raised their target price on Stewart Information Services from $72.00 to $73.00 and gave the stock a "market perform" rating in a research note on Monday, July 28th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.