Stewart Information Services Corporation (NYSE:STC) Short Interest Update

Key Points

• Short interest for Stewart Information Services increased by 35.6% in August, reaching a total of 642,700 shares, indicating growing bearish sentiment among investors.
• The company recently declared a quarterly dividend increase to $0.525 per share, representing a boost from the previous $0.50 dividend and yielding 2.8% annually.
• Stewart Information Services reported quarterly earnings of $1.34 per share, exceeding analysts' expectations and showing a 19.9% year-over-year revenue growth.

Stewart Information Services Corporation (NYSE:STC - Get Free Report) saw a large increase in short interest in August. As of August 15th, there was short interest totaling 642,700 shares, an increase of 35.6% from the July 31st total of 473,900 shares. Based on an average daily trading volume, of 200,500 shares, the days-to-cover ratio is currently 3.2 days. Based on an average daily trading volume, of 200,500 shares, the days-to-cover ratio is currently 3.2 days.

Stewart Information Services Trading Down 0.4%

STC traded down $0.30 during mid-day trading on Friday, hitting $74.61. 108,117 shares of the stock were exchanged, compared to its average volume of 138,278. The firm's fifty day moving average is $67.77 and its two-hundred day moving average is $66.55. Stewart Information Services has a 1-year low of $56.39 and a 1-year high of $78.44. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.31. The company has a market cap of $2.09 billion, a PE ratio of 23.99 and a beta of 0.94.

Stewart Information Services (NYSE:STC - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $721.50 million for the quarter, compared to analyst estimates of $671.90 million. During the same quarter in the prior year, the company earned $0.91 EPS. Stewart Information Services's revenue was up 19.9% on a year-over-year basis. Equities analysts forecast that Stewart Information Services will post 6.29 earnings per share for the current fiscal year.

Stewart Information Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 2.8%. 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. Stewart Information Services's dividend payout ratio is currently 67.52%.

Insider Buying and Selling at Stewart Information Services

In other Stewart Information Services 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 value of $143,203.36. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 completion of the sale, the insider owned 23,872 shares of the company's stock, valued at approximately $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. 1.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Stewart Information Services

Several hedge funds have recently bought and sold shares of the company. Squarepoint Ops LLC lifted its stake in Stewart Information Services by 207.3% during the 2nd quarter. Squarepoint Ops LLC now owns 22,679 shares of the insurance provider's stock worth $1,476,000 after acquiring an additional 15,299 shares in the last quarter. State of Wyoming raised its position in Stewart Information Services by 216.1% in the 2nd quarter. State of Wyoming now owns 2,658 shares of the insurance provider's stock valued at $173,000 after purchasing an additional 1,817 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in Stewart Information Services in the 2nd quarter valued at about $3,720,000. Public Sector Pension Investment Board raised its position in Stewart Information Services by 8.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 95,201 shares of the insurance provider's stock valued at $6,198,000 after purchasing an additional 7,199 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Stewart Information Services by 70.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,271 shares of the insurance provider's stock valued at $148,000 after purchasing an additional 935 shares in the last quarter. Institutional investors and hedge funds own 96.90% of the company's stock.

Wall Street Analyst Weigh In

STC has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their price target on Stewart Information Services from $72.00 to $73.00 and gave the company a "market perform" rating in a research note on Monday, July 28th. Wall Street Zen raised Stewart Information Services from a "hold" rating to a "buy" rating in a research note on Saturday, August 16th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Stewart Information Services has a consensus rating of "Moderate Buy" and a consensus price target of $77.50.

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.