Stewart Information Services (NYSE:STC) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Stewart Information Services (NYSE:STC - Get Free Report) announced its quarterly earnings data on Wednesday. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.04, Zacks reports. Stewart Information Services had a return on equity of 7.76% and a net margin of 3.29%. The firm had revenue of $721.50 million for the quarter, compared to analysts' expectations of $671.90 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Stewart Information Services's revenue for the quarter was up 19.9% compared to the same quarter last year.

Stewart Information Services Stock Down 0.6%

STC traded down $0.40 during trading on Friday, reaching $65.19. 81,745 shares of the stock traded hands, compared to its average volume of 187,403. Stewart Information Services has a fifty-two week low of $56.39 and a fifty-two week high of $78.44. The stock's 50-day simple moving average is $62.29 and its two-hundred day simple moving average is $65.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.77 and a quick ratio of 1.77. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 21.04 and a beta of 0.99.

Stewart Information Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Monday, June 16th. Stewart Information Services's dividend payout ratio is presently 76.92%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STC. Wall Street Zen cut Stewart Information Services from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods lowered their target price on Stewart Information Services from $75.00 to $72.00 and set a "market perform" rating on the stock in a research report on Thursday, July 10th.

Insiders Place Their Bets

In other Stewart Information Services news, Director C Allen Bradley, Jr. acquired 1,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were acquired at an average cost of $59.63 per share, for a total transaction of $59,630.00. Following the completion of 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Stewart Information Services

Institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp increased its stake in shares of Stewart Information Services by 44,842.9% in the first quarter. Jones Financial Companies Lllp now owns 3,146 shares of the insurance provider's stock worth $224,000 after purchasing an additional 3,139 shares during the period. AQR Capital Management LLC grew its position in Stewart Information Services by 6.0% during the first quarter. AQR Capital Management LLC now owns 8,583 shares of the insurance provider's stock worth $612,000 after buying an additional 483 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Stewart Information Services by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,105 shares of the insurance provider's stock worth $1,149,000 after buying an additional 712 shares in the last quarter. Jane Street Group LLC grew its position in Stewart Information Services by 607.8% during the first quarter. Jane Street Group LLC now owns 50,631 shares of the insurance provider's stock worth $3,613,000 after buying an additional 43,478 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Stewart Information Services by 10.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 85,522 shares of the insurance provider's stock worth $6,102,000 after buying an additional 7,923 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors.

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.