Wellington Management Group LLP Has $8.16 Million Holdings in 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 lifted 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 disclosure with the SEC. The institutional investor owned 114,291 shares of the insurance provider's stock after purchasing an additional 53,860 shares during the quarter. Wellington Management Group LLP owned 0.41% of Stewart Information Services worth $8,155,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Northern Trust Corp grew its stake in shares of Stewart Information Services by 0.4% in the first quarter. Northern Trust Corp now owns 332,891 shares of the insurance provider's stock worth $23,752,000 after purchasing an additional 1,460 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Stewart Information Services by 77.1% in the first quarter. American Century Companies Inc. now owns 33,222 shares of the insurance provider's stock worth $2,370,000 after purchasing an additional 14,468 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Stewart Information Services by 3.3% in the first quarter. Russell Investments Group Ltd. now owns 54,084 shares of the insurance provider's stock worth $3,859,000 after purchasing an additional 1,739 shares in the last quarter. Public Sector Pension Investment Board grew its stake in shares of Stewart Information Services by 27.4% in the first quarter. Public Sector Pension Investment Board now owns 88,002 shares of the insurance provider's stock worth $6,279,000 after purchasing an additional 18,913 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Stewart Information Services in the first quarter worth $12,698,000. Institutional investors own 96.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Wall Street Zen upgraded Stewart Information Services from a "hold" rating to a "buy" rating in a report on Saturday, August 16th. Keefe, Bruyette & Woods upped 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 investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $77.50.

Insider Buying and Selling at Stewart Information Services

In related news, 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 transaction, the chief financial officer directly owned 58,359 shares of the company's stock, valued at approximately $3,757,736.01. The trade was a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the insider directly owned 23,872 shares in the company, valued at $1,559,319.04. The trade was a 19.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.78% of the stock is currently owned by insiders.

Stewart Information Services Trading Up 2.4%

Shares of NYSE STC traded up $1.70 during mid-day trading on Wednesday, hitting $72.24. 137,768 shares of the company traded hands, compared to its average volume of 131,832. Stewart Information Services Corporation has a 1 year low of $56.39 and a 1 year high of $78.44. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 23.23 and a beta of 0.94. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average of $66.63 and a two-hundred day moving average of $66.34.

Stewart Information Services (NYSE:STC - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The insurance provider reported $1.34 EPS for the quarter, beating the consensus estimate 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 business had revenue of $721.50 million during the quarter, compared to the consensus estimate of $671.90 million. During the same period in the prior year, the business posted $0.91 earnings per share. Stewart Information Services's revenue was up 19.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Stewart Information Services Corporation will post 6.29 earnings per share for the current fiscal year.

Stewart Information Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 is a positive change from Stewart Information Services's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 2.9%. Stewart Information Services's payout ratio is presently 64.31%.

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.