Wellington Management Group LLP Buys 53,860 Shares of Stewart Information Services Corporation $STC

Key Points

• Wellington Management Group LLP increased its holdings in Stewart Information Services Corporation by 89.1%, now owning 114,291 shares valued at approximately $8.15 million.
• Stewart Information Services reported $721.50 million in revenue for the most recent quarter, significantly surpassing analyst expectations of $671.90 million.
• The company recently declared a quarterly dividend of $0.50 per share, resulting in an annualized dividend yield of 2.7%.

Wellington Management Group LLP increased its holdings in Stewart Information Services Corporation (NYSE:STC - Free Report) by 89.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,291 shares of the insurance provider's stock after acquiring an additional 53,860 shares during the period. Wellington Management Group LLP owned about 0.41% of Stewart Information Services worth $8,155,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. State of Wyoming lifted its stake in 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 acquiring an additional 667 shares in the last quarter. Vident Advisory LLC increased its position in Stewart Information Services by 7.5% in the 4th quarter. Vident Advisory LLC now owns 2,982 shares of the insurance provider's stock worth $201,000 after purchasing an additional 208 shares during the last quarter. Montchanin Asset Management LLC acquired a new position in Stewart Information Services in the 4th quarter worth about $206,000. First Citizens Bank & Trust Co. acquired a new position in Stewart Information Services in the 1st quarter worth about $218,000. Finally, Kestra Private Wealth Services LLC acquired a new position in Stewart Information Services in the 1st quarter worth about $227,000. 96.90% of the stock is owned by hedge funds and other institutional investors.

Stewart Information Services Stock Performance

Shares of STC stock traded down $2.02 during mid-day trading on Tuesday, reaching $70.82. The stock had a trading volume of 43,870 shares, compared to its average volume of 183,957. The firm's 50 day simple moving average is $66.37 and its 200 day simple moving average is $66.27. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.31. Stewart Information Services Corporation has a one year low of $56.39 and a one year high of $78.44. The firm has a market cap of $1.98 billion, a PE ratio of 22.77 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 analysts' consensus estimates of $1.30 by $0.04. Stewart Information Services had a return on equity of 7.71% and a net margin of 3.29%.The company had revenue of $721.50 million during the quarter, compared to the consensus estimate of $671.90 million. During the same quarter last year, the company earned $0.91 EPS. The company's quarterly revenue was up 19.9% on a year-over-year basis. On average, analysts forecast that Stewart Information Services Corporation will post 6.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen raised Stewart Information Services from a "hold" rating to a "buy" rating in a research report on Saturday, August 16th. Keefe, Bruyette & Woods increased their price objective on 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 equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $77.50.

Insider Buying and Selling

In other Stewart Information Services news, CFO David C. Hisey sold 2,224 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $64.39, for a total value of $143,203.36. Following the completion of the sale, the chief financial officer 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brad Rable sold 5,694 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $65.32, for a total value of $371,932.08. Following the completion of the sale, the insider owned 23,872 shares of the company's stock, valued at $1,559,319.04. This represents a 19.26% decrease in their position. The disclosure for this sale can be found here. 2.78% of the stock is currently owned by company insiders.

About Stewart Information Services

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.