Stewart Information Services (NYSE:STC) Director Acquires $93,640.00 in Stock

Key Points

• Director William Jr. Corey purchased 2,000 shares of Stewart Information Services at $46.82 each, investing $93,640 and increasing his direct holdings by 17.49% to 13,433 shares.
• STC shares fell 2.4% to $43.00 and are near their 52-week low after the company reported quarterly EPS of $1.33, below the $1.50 analyst consensus, while revenue was also slightly below estimates.
• The company increased its quarterly dividend to $0.55, equivalent to $2.20 annually and a 5.1% yield; analysts’ consensus rating remains “Hold,” with an average price target of $75.75.

Stewart Information Services Corporation (NYSE:STC - Get Free Report) Director William Jr. Corey bought 2,000 shares of Stewart Information Services stock in a transaction on Friday, October 23rd. The shares were purchased at an average price of $46.82 per share, for a total transaction of $93,640.00. Following the acquisition, the director directly owned 13,433 shares in the company, valued at approximately $628,933.06. This trade represents a 17.49% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Stewart Information Services Stock Down 2.4%

STC stock traded down $1.07 during midday trading on Monday, hitting $43.00. The stock had a trading volume of 846,107 shares, compared to its average volume of 405,096. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 10.78 and a beta of 1.04. The business has a 50-day moving average of $60.20 and a two-hundred day moving average of $65.20. Stewart Information Services Corporation has a 52-week low of $42.73 and a 52-week high of $78.61. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.85 and a quick ratio of 1.98.

Stewart Information Services (NYSE:STC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.50 by ($0.17). The firm had revenue of $900.70 million during the quarter, compared to the consensus estimate of $903.67 million. Stewart Information Services had a return on equity of 9.39% and a net margin of 3.58%. During the same quarter last year, the company posted $1.64 EPS. As a group, equities research analysts forecast that Stewart Information Services Corporation will post 4.89 earnings per share for the current fiscal year.

Stewart Information Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 5.1%. This is a boost from Stewart Information Services's previous quarterly dividend of $0.5250. The ex-dividend date was Tuesday, September 15th. Stewart Information Services's dividend payout ratio is currently 55.14%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Bank of America Corp DE purchased a new position in shares of Stewart Information Services in the second quarter worth approximately $10,991,000. Deutsche Bank AG purchased a new position in shares of Stewart Information Services during the 2nd quarter worth $2,191,000. The Manufacturers Life Insurance Company purchased a new position in shares of Stewart Information Services during the 2nd quarter worth $987,000. BlackRock Inc. bought a new stake in shares of Stewart Information Services during the 2nd quarter valued at $347,274,000. Finally, Empowered Funds LLC purchased a new position in shares of Stewart Information Services during the 2nd quarter valued at about $8,211,000. Institutional investors own 96.90% of the company's stock.

Analysts Set New Price Targets

STC has been the topic of a number of recent research reports. Citizens Jmp cut their target price on Stewart Information Services from $80.00 to $75.00 and set a "market outperform" rating on the stock in a research note on Monday, October 12th. Stephens dropped their price target on shares of Stewart Information Services from $80.00 to $70.00 and set an "overweight" rating on the stock in a research note on Monday. Citigroup reissued a "market outperform" rating on shares of Stewart Information Services in a research report on Monday, October 12th. Weiss Ratings cut shares of Stewart Information Services from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, October 19th. Finally, Zacks Research lowered Stewart Information Services from a "hold" rating to a "strong sell" rating in a report on Thursday. Four analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Stewart Information Services currently has an average rating of "Hold" and a consensus target price of $75.75.

Stewart Information Services Company Profile

Stewart Information Services Corporation NYSE: STC is a global provider of title insurance and real estate transaction services. Through its Stewart Title operations, the company helps protect property owners, lenders and other participants from losses arising from defects in a property's title.

The company offers title searches and examinations, title insurance policies, escrow and closing services, settlement services, and related solutions for residential and commercial real estate transactions.

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