Stewart Information Services (NYSE:STC) Shares Down 8.3% on Analyst Downgrade

Stewart Information Services Corporation (NYSE:STC - Get Free Report)'s stock price dropped 8.3% during mid-day trading on Thursday after Keefe, Bruyette & Woods lowered their price target on the stock from $75.00 to $72.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Stewart Information Services traded as low as $59.41 and last traded at $59.32. Approximately 24,896 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 177,071 shares. The stock had previously closed at $64.70.

Separately, Wall Street Zen cut shares of Stewart Information Services from a "buy" rating to a "hold" rating in a research note on Thursday, April 24th.

Insider Activity at Stewart Information Services

In related news, Director C Allen Bradley, Jr. purchased 1,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were acquired at an average cost of $59.63 per share, with a total value of $59,630.00. Following the completion of the purchase, the director directly owned 20,243 shares of the company's stock, valued at $1,207,090.09. This trade represents a 5.20% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by company insiders.

Institutional Trading of Stewart Information Services

Several hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake in shares of Stewart Information Services by 1.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,682,009 shares of the insurance provider's stock valued at $120,600,000 after purchasing an additional 30,160 shares during the last quarter. Millennium Management LLC grew its stake in shares of Stewart Information Services by 5.0% during the first quarter. Millennium Management LLC now owns 996,558 shares of the insurance provider's stock valued at $71,104,000 after purchasing an additional 47,384 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Stewart Information Services by 18.6% in the first quarter. Victory Capital Management Inc. now owns 990,168 shares of the insurance provider's stock valued at $70,648,000 after acquiring an additional 155,210 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Stewart Information Services by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 542,367 shares of the insurance provider's stock worth $36,604,000 after acquiring an additional 5,748 shares during the period. Finally, Cooke & Bieler LP raised its position in shares of Stewart Information Services by 5.8% during the 1st quarter. Cooke & Bieler LP now owns 449,672 shares of the insurance provider's stock valued at $32,084,000 after acquiring an additional 24,840 shares during the last quarter. 96.90% of the stock is owned by institutional investors.

Stewart Information Services Stock Down 6.1%

The firm's 50-day simple moving average is $63.42 and its 200 day simple moving average is $65.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.77 and a current ratio of 1.77. The company has a market cap of $1.70 billion, a P/E ratio of 23.37 and a beta of 0.99.

Stewart Information Services (NYSE:STC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.09). Stewart Information Services had a return on equity of 6.92% and a net margin of 2.88%. The company had revenue of $608.90 million during the quarter, compared to the consensus estimate of $595.50 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The firm's revenue for the quarter was up 10.4% on a year-over-year basis. On average, research analysts forecast that Stewart Information Services Corporation will post 6.29 earnings per share for the current fiscal year.

Stewart Information Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.29%. Stewart Information Services's dividend payout ratio is 76.92%.

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.