Allspring Global Investments Holdings LLC decreased its holdings in shares of Stewart Information Services Corporation (NYSE:STC - Free Report) by 8.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,489,626 shares of the insurance provider's stock after selling 136,719 shares during the period. Allspring Global Investments Holdings LLC owned approximately 4.90% of Stewart Information Services worth $90,867,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Stewart Information Services during the fourth quarter worth $43,000. Exchange Traded Concepts LLC purchased a new stake in Stewart Information Services during the 4th quarter valued at about $65,000. Horizon Investments LLC purchased a new stake in Stewart Information Services during the 4th quarter valued at about $65,000. Kemnay Advisory Services Inc. acquired a new position in shares of Stewart Information Services in the fourth quarter valued at about $66,000. Finally, Clearstead Advisors LLC increased its holdings in shares of Stewart Information Services by 50.9% in the fourth quarter. Clearstead Advisors LLC now owns 981 shares of the insurance provider's stock valued at $69,000 after purchasing an additional 331 shares during the period. Institutional investors and hedge funds own 96.90% of the company's stock.
Insider Transactions at Stewart Information Services
In related news, Director C Allen Bradley, Jr. bought 1,000 shares of the stock in a transaction on Monday, June 1st. The stock was bought at an average price of $63.87 per share, with a total value of $63,870.00. Following the completion of the purchase, the director directly owned 25,034 shares in the company, valued at $1,598,921.58. This represents a 4.16% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David C. Hisey sold 10,992 shares of Stewart Information Services stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $71.28, for a total transaction of $783,509.76. Following the sale, the chief financial officer owned 61,929 shares of the company's stock, valued at approximately $4,414,299.12. This represents a 15.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.94% of the stock is currently owned by company insiders.
Stewart Information Services Trading Down 0.4%
Shares of STC stock opened at $71.91 on Friday. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.39. Stewart Information Services Corporation has a twelve month low of $57.10 and a twelve month high of $78.61. The company's 50-day moving average price is $67.00 and its 200-day moving average price is $66.87. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of 16.05 and a beta of 0.99.
Stewart Information Services (NYSE:STC - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The insurance provider reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.26. The company had revenue of $778.40 million for the quarter, compared to the consensus estimate of $730.43 million. Stewart Information Services had a net margin of 4.19% and a return on equity of 10.07%. Stewart Information Services's quarterly revenue was up 27.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 earnings per share. As a group, equities analysts predict that Stewart Information Services Corporation will post 5.8 earnings per share for the current year.
Stewart Information Services Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $0.525 per share. The ex-dividend date was Monday, June 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.9%. Stewart Information Services's dividend payout ratio is currently 46.88%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on STC shares. Zacks Research raised Stewart Information Services to a "hold" rating in a report on Wednesday, May 27th. Stephens reissued an "overweight" rating and set a $88.00 price target on shares of Stewart Information Services in a research report on Monday, May 18th. Wall Street Zen upgraded shares of Stewart Information Services from a "hold" rating to a "buy" rating in a research note on Saturday, April 25th. Keefe, Bruyette & Woods decreased their price objective on shares of Stewart Information Services from $81.00 to $77.00 and set an "outperform" rating for the company in a research note on Thursday, June 25th. Finally, Weiss Ratings raised shares of Stewart Information Services from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, June 5th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $81.67.
Get Our Latest Report on STC
About Stewart Information Services
(
Free Report)
Stewart Information Services Corporation NYSE: STC is a publicly traded provider of title insurance and real estate transaction services. The company underwrites title insurance policies for residential and commercial properties, offering lenders and property owners protection against title defects and liens. Beyond title insurance, Stewart delivers a range of ancillary services, including closing and escrow administration, property valuation, and risk mitigation solutions designed to streamline the mortgage process and reduce operational complexity for clients.
In addition to core title and settlement services, Stewart offers technology-driven products aimed at enhancing transparency and efficiency in real estate transactions.
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