Stewart Information Services (NYSE:STC) Price Target Raised to $73.00

Stewart Information Services (NYSE:STC) had its price target raised by Keefe, Bruyette & Woods from $72.00 to $73.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a market perform rating on the insurance provider’s stock.

Separately, Wall Street Zen cut Stewart Information Services from a “buy” rating to a “hold” rating in a report on Thursday, April 24th.

Stewart Information Services Trading Down 0.5%

Shares of NYSE:STC opened at $65.06 on Monday. The company has a market cap of $1.82 billion, a P/E ratio of 20.92 and a beta of 0.99. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.91 and a quick ratio of 1.77. Stewart Information Services has a 1 year low of $56.39 and a 1 year high of $78.44. The stock’s fifty day moving average price is $62.29 and its 200-day moving average price is $65.47.

Stewart Information Services (NYSE:STC) last issued its earnings results on Wednesday, July 23rd. The insurance provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.04. The company had revenue of $721.50 million for the quarter, compared to the consensus estimate of $671.90 million. Stewart Information Services had a return on equity of 7.71% and a net margin of 3.29%. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the company earned $0.91 EPS. Sell-side analysts expect that Stewart Information Services will post 6.29 earnings per share for the current year.

Stewart Information Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.07%. The ex-dividend date was Monday, June 16th. Stewart Information Services’s dividend payout ratio is currently 64.31%.

Insider Buying and Selling at Stewart Information Services

In related news, Director C Allen Bradley, Jr. bought 1,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were purchased at an average price of $59.63 per share, for a total transaction of $59,630.00. Following the completion of the purchase, the director directly owned 20,243 shares of the company’s stock, valued at $1,207,090.09. This represents a 5.20% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David C. Hisey sold 2,224 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $64.39, for a total value of $143,203.36. Following the completion of the sale, the chief financial officer owned 58,359 shares in the company, valued at $3,757,736.01. The trade was a 3.67% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On Stewart Information Services

Hedge funds have recently bought and sold shares of the business. Capital International Investors acquired a new stake in Stewart Information Services during the fourth quarter worth $15,890,000. Nuveen LLC acquired a new stake in Stewart Information Services during the first quarter worth $12,698,000. Victory Capital Management Inc. increased its stake in 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 worth $70,648,000 after acquiring an additional 155,210 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Stewart Information Services during the fourth quarter worth $4,034,000. Finally, Wellington Management Group LLP increased its stake in Stewart Information Services by 89.1% during the first quarter. Wellington Management Group LLP now owns 114,291 shares of the insurance provider’s stock worth $8,155,000 after acquiring an additional 53,860 shares during the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Stewart Information Services Company 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.