Penserra Capital Management LLC Purchases Shares of 3,542 Stewart Information Services Corporation $STC

Penserra Capital Management LLC acquired a new position in shares of Stewart Information Services Corporation (NYSE:STC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,542 shares of the insurance provider’s stock, valued at approximately $230,000.

Several other institutional investors and hedge funds have also recently modified their holdings of STC. Farther Finance Advisors LLC boosted its position in shares of Stewart Information Services by 2,735.8% during 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 last quarter. AlphaQuest LLC lifted its stake in Stewart Information Services by 17.2% during the 2nd quarter. AlphaQuest LLC now owns 3,422 shares of the insurance provider’s stock valued at $223,000 after acquiring an additional 501 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in Stewart Information Services by 44,842.9% during the 1st quarter. Jones Financial Companies Lllp now owns 3,146 shares of the insurance provider’s stock worth $224,000 after acquiring an additional 3,139 shares during the last quarter. Kestra Private Wealth Services LLC bought a new stake in shares of Stewart Information Services in the 1st quarter worth $227,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Stewart Information Services by 13.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,533 shares of the insurance provider’s stock worth $252,000 after acquiring an additional 418 shares in the last quarter. 96.90% of the stock is owned by hedge funds and other institutional investors.

Stewart Information Services Price Performance

STC opened at $72.39 on Thursday. The firm has a 50-day moving average price of $71.94 and a 200-day moving average price of $67.43. Stewart Information Services Corporation has a twelve month low of $56.39 and a twelve month high of $78.44. The company has a quick ratio of 1.91, a current ratio of 1.77 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 20.16 and a beta of 0.95.

Stewart Information Services (NYSE:STC) last released its quarterly earnings data on Wednesday, October 22nd. The insurance provider reported $1.64 EPS for the quarter, topping the consensus estimate of $1.42 by $0.22. Stewart Information Services had a net margin of 3.65% and a return on equity of 8.57%. The company had revenue of $791.30 million during the quarter, compared to the consensus estimate of $737.30 million. During the same period last year, the firm earned $1.07 EPS. Stewart Information Services’s revenue for the quarter was up 19.3% on a year-over-year basis. Equities analysts expect that Stewart Information Services Corporation will post 6.29 EPS for the current year.

Stewart Information Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 2.9%. This is a boost from Stewart Information Services’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 16th. Stewart Information Services’s dividend payout ratio (DPR) is presently 58.50%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on STC. Wall Street Zen raised shares of Stewart Information Services from a “hold” rating to a “buy” rating in a research report on Sunday, October 19th. Keefe, Bruyette & Woods increased their price objective on shares of Stewart Information Services from $72.00 to $73.00 and gave the company a “market perform” rating in a research note on Monday, July 28th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Stewart Information Services in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $77.50.

About Stewart Information Services

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.