Stewart Information Services (NYSE:STC) Stock Price Down 6.6% – Here’s What Happened

Stewart Information Services Corporation (NYSE:STC) fell 6.6% during trading on Wednesday. The stock traded as low as $53.97 and last traded at $53.0040. Approximately 168,056 shares traded hands during trading, a decline of 28% from the average session volume of 232,874 shares. The stock had previously closed at $56.76.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings cut shares of Stewart Information Services from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, September 18th. Zacks Research raised Stewart Information Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 22nd. Benchmark started coverage on Stewart Information Services in a research report on Tuesday, July 21st. They set a “buy” rating and a $87.00 target price on the stock. Keefe, Bruyette & Woods downgraded Stewart Information Services from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $77.00 to $71.00 in a report on Monday, July 27th. Finally, Wall Street Zen cut shares of Stewart Information Services from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.50.

Stewart Information Services Stock Up 2.3%

The stock has a market cap of $1.55 billion, a PE ratio of 11.15 and a beta of 1.04. The business has a 50 day moving average of $66.10 and a 200-day moving average of $66.12. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.39.

Stewart Information Services (NYSE:STC) last posted its quarterly earnings data on Wednesday, July 22nd. The insurance provider reported $1.39 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.24). The firm had revenue of $895.80 million during the quarter, compared to analyst estimates of $838.07 million. Stewart Information Services had a net margin of 4.12% and a return on equity of 10.02%. Stewart Information Services’s revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.34 earnings per share. Equities research analysts predict that Stewart Information Services Corporation will post 5.26 EPS for the current fiscal year.

Stewart Information Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were paid a $0.55 dividend. This is a boost from Stewart Information Services’s previous quarterly dividend of $0.5250. This represents a $2.20 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Tuesday, September 15th. Stewart Information Services’s dividend payout ratio (DPR) is presently 48.25%.

Insider Transactions at Stewart Information Services

In related news, insider Brian Glaze sold 1,500 shares of Stewart Information Services stock in a transaction on Friday, August 21st. The shares were sold at an average price of $69.16, for a total value of $103,740.00. Following the transaction, the insider directly owned 11,784 shares in the company, valued at $814,981.44. This trade represents a 11.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.94% of the stock is owned by company insiders.

Institutional Investors Weigh In On Stewart Information Services

A number of hedge funds have recently added to or reduced their stakes in STC. Arizona State Retirement System boosted its position in shares of Stewart Information Services by 2.4% during the 2nd quarter. Arizona State Retirement System now owns 8,417 shares of the insurance provider’s stock worth $556,000 after purchasing an additional 198 shares in the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Stewart Information Services by 7.0% during the 1st quarter. Maryland State Retirement & Pension System now owns 4,378 shares of the insurance provider’s stock worth $270,000 after acquiring an additional 287 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in shares of Stewart Information Services by 1.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 16,116 shares of the insurance provider’s stock worth $992,000 after acquiring an additional 308 shares during the period. The Manufacturers Life Insurance Company increased its stake in Stewart Information Services by 2.8% in the 1st quarter. The Manufacturers Life Insurance Company now owns 13,253 shares of the insurance provider’s stock valued at $816,000 after purchasing an additional 359 shares in the last quarter. Finally, Caitlin John LLC acquired a new position in Stewart Information Services during the second quarter worth $28,000. Institutional investors and hedge funds own 96.90% of the company’s stock.

About Stewart Information Services

Stewart Information Services Corporation is a global real estate services company headquartered in Houston, Texas. Through its Stewart Title operations, the company provides title insurance and related services that help protect property owners, lenders and other parties involved in real estate transactions from certain title defects and ownership-related risks.

The company’s business includes title examination, search and insurance services, escrow and closing services, settlement services, and related transaction support.