Stewart Information Services Corporation (NYSE:STC - Get Free Report)'s share price fell 8.3% 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 downgraded shares of Stewart Information Services from a "buy" rating to a "hold" rating in a report on Thursday, April 24th.
Read Our Latest Research Report on STC
Insider Activity
In other news, Director C Allen Bradley, Jr. bought 1,000 shares of the 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 completion of the acquisition, the director owned 20,243 shares in the company, valued at approximately $1,207,090.09. This represents a 5.20% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is owned by company insiders.
Hedge Funds Weigh In On Stewart Information Services
A number of institutional investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in shares of Stewart Information Services by 310.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 452 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 342 shares during the last quarter. Sterling Capital Management LLC raised its stake in Stewart Information Services by 807.4% during the fourth quarter. Sterling Capital Management LLC now owns 853 shares of the insurance provider's stock worth $58,000 after acquiring an additional 759 shares in the last quarter. State of Wyoming raised its stake in 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 acquiring an additional 667 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of 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 during the period. Finally, Summit Investment Advisors Inc. increased its stake in shares of Stewart Information Services by 6.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,831 shares of the insurance provider's stock valued at $191,000 after buying an additional 170 shares during the period. 96.90% of the stock is currently owned by institutional investors and hedge funds.
Stewart Information Services Price Performance
The company has a market cap of $1.69 billion, a price-to-earnings ratio of 23.28 and a beta of 0.99. The company has a 50 day moving average price of $63.42 and a 200-day moving average price of $65.97. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.32.
Stewart Information Services (NYSE:STC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The insurance provider reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.09). The firm had revenue of $608.90 million for the quarter, compared to analyst estimates of $595.50 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 10.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.17 EPS. As a group, equities research analysts predict that Stewart Information Services Corporation will post 6.29 EPS for the current fiscal year.
Stewart Information Services Dividend Announcement
The business also recently disclosed 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. This represents a $2.00 annualized dividend and a yield of 3.30%. The ex-dividend date was Monday, June 16th. Stewart Information Services's dividend payout ratio (DPR) is presently 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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