Stewart Information Services Corporation $STC Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC cut its holdings in shares of Stewart Information Services Corporation (NYSE:STC) by 7.0% in the 2nd quarter, Holdings Channel reports. The fund owned 295,440 shares of the insurance provider’s stock after selling 22,245 shares during the period. Stewart Information Services accounts for about 1.7% of Tributary Capital Management LLC’s investment portfolio, making the stock its 21st biggest position. Tributary Capital Management LLC’s holdings in Stewart Information Services were worth $19,233,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Principal Financial Group Inc. grew its stake in shares of Stewart Information Services by 2.8% during the first quarter. Principal Financial Group Inc. now owns 138,212 shares of the insurance provider’s stock valued at $9,861,000 after acquiring an additional 3,821 shares in the last quarter. 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 acquiring an additional 30,160 shares in the last quarter. Pinnacle Financial Partners Inc acquired a new stake in shares of Stewart Information Services during the first quarter valued at about $283,000. Farther Finance Advisors LLC grew its stake 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 acquiring an additional 1,450 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Stewart Information Services by 18.6% during 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 in the last quarter. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Brad Rable sold 5,694 shares of Stewart Information Services stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $65.32, for a total transaction of $371,932.08. Following the sale, the insider owned 23,872 shares of the company’s stock, valued at approximately $1,559,319.04. The trade was a 19.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO David C. Hisey sold 2,224 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $64.39, for a total value of $143,203.36. Following the sale, the chief financial officer directly owned 58,359 shares in the company, valued at approximately $3,757,736.01. The trade was a 3.67% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on STC. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stewart Information Services in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their target price on 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, Wall Street Zen upgraded Stewart Information Services from a “hold” rating to a “buy” rating in a research note on Sunday. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $77.50.

Stewart Information Services Stock Performance

STC opened at $74.98 on Thursday. The business’s 50 day moving average is $72.20 and its 200-day moving average is $66.83. The stock has a market cap of $2.10 billion, a PE ratio of 24.11 and a beta of 0.96. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.31. Stewart Information Services Corporation has a twelve month low of $56.39 and a twelve month high of $78.44.

Stewart Information Services (NYSE:STC) last released its quarterly earnings results on Wednesday, October 22nd. The insurance provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.22. The company had revenue of $791.30 million for the quarter, compared to analysts’ expectations of $737.30 million. Stewart Information Services had a return on equity of 7.71% and a net margin of 3.29%.The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. On average, analysts predict that Stewart Information Services Corporation will post 6.29 earnings per share for the current year.

Stewart Information Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from Stewart Information Services’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, September 16th. Stewart Information Services’s dividend payout ratio is presently 67.52%.

Stewart Information Services 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.