Stewart Information Services (NYSE:STC) Shares Gap Up After Earnings Beat

Stewart Information Services Corporation (NYSE:STC - Get Free Report)'s stock price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $59.51, but opened at $63.43. Stewart Information Services shares last traded at $66.61, with a volume of 92,685 shares changing hands.

The insurance provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.04. The company had revenue of $721.50 million during the quarter, compared to analyst estimates of $671.90 million. Stewart Information Services had a net margin of 2.88% and a return on equity of 6.92%. The business's revenue for the quarter was up 19.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 EPS.

Stewart Information Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 3.03%. Stewart Information Services's dividend payout ratio is currently 76.92%.

Wall Street Analyst Weigh In

Several research firms have commented on STC. Wall Street Zen cut Stewart Information Services from a "buy" rating to a "hold" rating in a research note on Thursday, April 24th. Keefe, Bruyette & Woods reduced their target price on Stewart Information Services from $75.00 to $72.00 and set a "market perform" rating on the stock in a report on Thursday, July 10th.

Insiders Place Their Bets

In other news, Director C Allen Bradley, Jr. bought 1,000 shares of the stock in a transaction on Wednesday, May 28th. The shares were bought at an average price of $59.63 per share, with a total value of $59,630.00. Following the completion of the acquisition, the director owned 20,243 shares in the company, valued at $1,207,090.09. The trade was a 5.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Stewart Information Services

A number of institutional investors and hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC lifted its holdings in shares of Stewart Information Services by 807.4% in the 4th quarter. Sterling Capital Management LLC now owns 853 shares of the insurance provider's stock valued at $58,000 after buying an additional 759 shares during the period. Farther Finance Advisors LLC raised its stake in Stewart Information Services by 2,735.8% in the second quarter. Farther Finance Advisors LLC now owns 1,503 shares of the insurance provider's stock valued at $98,000 after buying an additional 1,450 shares in the last quarter. State of Wyoming increased its position in shares of Stewart Information Services by 84.0% during the fourth quarter. State of Wyoming now owns 1,461 shares of the insurance provider's stock worth $99,000 after purchasing an additional 667 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Stewart Information Services by 6.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,831 shares of the insurance provider's stock worth $191,000 after buying an additional 170 shares during the last quarter. Finally, Vident Advisory LLC boosted its stake in shares of Stewart Information Services by 7.5% during the 4th quarter. Vident Advisory LLC now owns 2,982 shares of the insurance provider's stock worth $201,000 after acquiring an additional 208 shares in the last quarter. 96.90% of the stock is owned by institutional investors.

Stewart Information Services Price Performance

The company has a 50-day moving average of $62.30 and a 200-day moving average of $65.38. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 25.41 and a beta of 0.99. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.77 and a current ratio of 1.77.

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.

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