XTX Topco Ltd Acquires New Position in Stewart Information Services Corporation (NYSE:STC)

Key Points

• XTX Topco Ltd has made a significant investment of approximately $957,000 in Stewart Information Services, acquiring 13,411 shares in the first quarter.
• Stewart Information Services reported a 19.9% increase in quarterly revenue year-over-year, totaling $721.50 million, while earnings exceeded estimates at $1.34 per share.
• The company has announced a quarterly dividend of $0.50 per share, equating to an annualized yield of 3.0%.

XTX Topco Ltd purchased a new position in Stewart Information Services Corporation (NYSE:STC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 13,411 shares of the insurance provider's stock, valued at approximately $957,000.

Other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC raised its position in Stewart Information Services by 807.4% during the fourth quarter. Sterling Capital Management LLC now owns 853 shares of the insurance provider's stock valued at $58,000 after acquiring an additional 759 shares in the last quarter. State of Wyoming lifted its stake in shares of Stewart Information Services by 84.0% in 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. Summit Investment Advisors Inc. boosted its holdings in Stewart Information Services by 6.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,831 shares of the insurance provider's stock worth $191,000 after purchasing an additional 170 shares in the last quarter. Vident Advisory LLC increased its position in Stewart Information Services by 7.5% during the fourth quarter. Vident Advisory LLC now owns 2,982 shares of the insurance provider's stock worth $201,000 after buying an additional 208 shares during the last quarter. Finally, Montchanin Asset Management LLC bought a new position in Stewart Information Services during the fourth quarter valued at about $206,000. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Stewart Information Services Stock Performance

Shares of Stewart Information Services stock traded down $0.29 during midday trading on Wednesday, hitting $67.63. The company had a trading volume of 32,590 shares, compared to its average volume of 189,832. The stock has a market cap of $1.89 billion, a PE ratio of 21.75 and a beta of 0.91. Stewart Information Services Corporation has a 1-year low of $56.39 and a 1-year high of $78.44. The business's 50 day simple moving average is $62.79 and its two-hundred day simple moving average is $65.59. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.91 and a quick ratio of 1.77.

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

Stewart Information Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Monday, June 16th. Stewart Information Services's payout ratio is 64.31%.

Insider Activity

In other news, Director C Allen Bradley, Jr. bought 1,000 shares of Stewart Information Services stock in a transaction dated Wednesday, May 28th. The shares were bought at an average price of $59.63 per share, for a total transaction of $59,630.00. Following the purchase, the director owned 20,243 shares of the company's stock, valued at approximately $1,207,090.09. This trade represents a 5.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David C. Hisey sold 2,224 shares of the company's 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 in the company, valued at $3,757,736.01. This represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.78% of the stock is owned by company insiders.

Analyst Ratings Changes

STC has been the topic of a number of analyst reports. 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. Wall Street Zen lowered shares of Stewart Information Services from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th.

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.