Stewart Information Services Corporation (NYSE:STC - Get Free Report) shares gapped up prior to trading 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 trading hands.
The insurance provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.30 by $0.04. Stewart Information Services had a net margin of 3.29% and a return on equity of 7.71%. The business had revenue of $721.50 million during the quarter, compared to analysts' expectations of $671.90 million. During the same period in the previous year, the business posted $0.91 EPS. The business's quarterly revenue was up 19.9% compared to the same quarter last year.
Stewart Information Services Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Monday, June 16th. Stewart Information Services's dividend payout ratio (DPR) is presently 64.31%.
Analyst Ratings Changes
Several analysts recently commented on STC shares. 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 upped their target price on Stewart Information Services from $72.00 to $73.00 and gave the company a "market perform" rating in a report on Monday.
Read Our Latest Analysis on Stewart Information Services
Insider Buying and Selling at Stewart Information Services
In related news, Director C Allen Bradley, Jr. purchased 1,000 shares of Stewart Information Services 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 transaction, the director directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David C. Hisey sold 2,224 shares of the stock in a transaction dated Friday, July 25th. The shares were 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 disclosure for this sale can be found here. 2.78% of the stock is owned by company insiders.
Institutional Investors Weigh In On Stewart Information Services
A number of hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. grew its stake in Stewart Information Services by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 138,212 shares of the insurance provider's stock worth $9,861,000 after buying an additional 3,821 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Stewart Information Services by 1.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,682,009 shares of the insurance provider's stock worth $120,600,000 after acquiring an additional 30,160 shares during the period. Pinnacle Financial Partners Inc acquired a new stake in shares of Stewart Information Services in the 1st quarter valued at approximately $283,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Stewart Information Services in the 4th quarter valued at approximately $385,000. Finally, Deutsche Bank AG lifted its holdings in shares of Stewart Information Services by 55.4% in the 4th quarter. Deutsche Bank AG now owns 23,233 shares of the insurance provider's stock valued at $1,568,000 after buying an additional 8,284 shares during the period. Institutional investors and hedge funds own 96.90% of the company's stock.
Stewart Information Services Stock Performance
The firm has a fifty day moving average of $62.27 and a 200-day moving average of $65.43. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 21.21 and a beta of 0.99. The company has a quick ratio of 1.77, a current ratio of 1.91 and a debt-to-equity ratio of 0.31.
Stewart Information Services Company Profile
(
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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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