Stewart Information Services Corporation (NYSE:STC - Get Free Report)'s share price fell 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. 24,896 shares changed hands during trading, a decline of 86% from the average session volume of 177,071 shares. The stock had previously closed at $64.70.
Separately, Wall Street Zen lowered shares of Stewart Information Services from a "buy" rating to a "hold" rating in a research note on Thursday, April 24th.
Read Our Latest Stock Report on STC
Insider Buying and Selling at Stewart Information Services
In other Stewart Information Services news, Director C Allen Bradley, Jr. bought 1,000 shares of the company's stock in a transaction that occurred on 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 acquisition, 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 document filed with the SEC, which is available through this link. Corporate insiders own 2.78% of the company's stock.
Institutional Trading of Stewart Information Services
A number of hedge funds and other institutional investors have recently made changes to their positions in STC. Capital International Investors bought a new stake in shares of Stewart Information Services in the 4th quarter worth approximately $15,890,000. Nuveen LLC bought a new stake in shares of Stewart Information Services in the 1st quarter worth approximately $12,698,000. Victory Capital Management Inc. raised its holdings in shares of Stewart Information Services by 18.6% in the 1st quarter. Victory Capital Management Inc. now owns 990,168 shares of the insurance provider's stock worth $70,648,000 after purchasing an additional 155,210 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Stewart Information Services in the 4th quarter worth approximately $4,034,000. Finally, Wellington Management Group LLP raised its holdings in shares of Stewart Information Services by 89.1% in the 1st quarter. Wellington Management Group LLP now owns 114,291 shares of the insurance provider's stock worth $8,155,000 after purchasing an additional 53,860 shares in the last quarter. 96.90% of the stock is currently owned by institutional investors.
Stewart Information Services Price Performance
The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.32. The business's fifty day moving average is $63.29 and its 200 day moving average is $65.84. The firm has a market capitalization of $1.69 billion, a P/E ratio of 23.28 and a beta of 0.99.
Stewart Information Services (NYSE:STC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.09). Stewart Information Services had a net margin of 2.88% and a return on equity of 6.92%. The firm had revenue of $608.90 million for the quarter, compared to analyst estimates of $595.50 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The firm's revenue was up 10.4% compared to the same quarter last year. As a group, analysts forecast that Stewart Information Services Corporation will post 6.29 EPS for the current year.
Stewart Information Services Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued 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 dividend yield of 3.30%. Stewart Information Services's dividend payout ratio is currently 76.92%.
About Stewart Information Services
(
Get Free Report)
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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