Tributary Capital Management LLC Reduces Position in Stewart Information Services Corporation (NYSE:STC)

Tributary Capital Management LLC cut its holdings in shares of Stewart Information Services Corporation (NYSE:STC - Free Report) by 3.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 317,685 shares of the insurance provider's stock after selling 11,481 shares during the period. Stewart Information Services comprises approximately 2.0% of Tributary Capital Management LLC's investment portfolio, making the stock its 12th biggest position. Tributary Capital Management LLC owned 1.14% of Stewart Information Services worth $22,667,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of STC. Principal Financial Group Inc. grew its holdings in Stewart Information Services by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 138,212 shares of the insurance provider's stock worth $9,861,000 after acquiring an additional 3,821 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Stewart Information Services by 1.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,682,009 shares of the insurance provider's stock worth $120,600,000 after acquiring an additional 30,160 shares during the period. Pinnacle Financial Partners Inc acquired a new stake in Stewart Information Services during the 1st quarter worth about $283,000. KLP Kapitalforvaltning AS acquired a new stake in Stewart Information Services during the 4th quarter worth about $385,000. Finally, Deutsche Bank AG grew its holdings in Stewart Information Services by 55.4% during the 4th quarter. Deutsche Bank AG now owns 23,233 shares of the insurance provider's stock worth $1,568,000 after acquiring an additional 8,284 shares during the period. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director C Allen Bradley, Jr. acquired 1,000 shares of Stewart Information Services stock in a transaction dated Wednesday, May 28th. The stock was purchased at an average cost of $59.63 per share, with a total value of $59,630.00. Following the completion of the purchase, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

STC has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Stewart Information Services from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods dropped their price target on shares of Stewart Information Services from $75.00 to $72.00 and set a "market perform" rating on the stock in a research report on Thursday, July 10th.

Stewart Information Services Trading Up 1.8%

Shares of NYSE:STC traded up $1.03 during midday trading on Thursday, hitting $58.74. 213,941 shares of the stock traded hands, compared to its average volume of 174,261. Stewart Information Services Corporation has a one year low of $55.65 and a one year high of $78.44. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.32. The business's 50 day moving average is $62.76 and its two-hundred day moving average is $65.60. The stock has a market capitalization of $1.64 billion, a PE ratio of 22.59 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.09). The firm had revenue of $608.90 million during the quarter, compared to the consensus estimate of $595.50 million. Stewart Information Services had a return on equity of 6.92% and a net margin of 2.88%. The company's quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.17 EPS. As a group, research analysts forecast that Stewart Information Services Corporation will post 6.29 earnings per share for the current year.

Stewart Information Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a $0.50 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.00 annualized dividend and a yield of 3.40%. Stewart Information Services's payout ratio is presently 76.92%.

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.