Stewart Information Services (NYSE:STC) Sees Strong Trading Volume – Here’s What Happened

Stewart Information Services Corporation (NYSE:STC) shares saw strong trading volume on Thursday. 1,724,979 shares traded hands during trading, an increase of 559% from the average daily volume of 261,846 shares. The stock last traded at $45.1940 and had previously closed at $44.30.

Wall Street Analyst Weigh In

A number of research firms have weighed in on STC. Stephens decreased their price objective on Stewart Information Services from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Monday, October 26th. Citizens Jmp lowered their target price on shares of Stewart Information Services from $80.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Monday, October 12th. Weiss Ratings cut Stewart Information Services from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, October 19th. Citigroup restated a “market outperform” rating on shares of Stewart Information Services in a research report on Monday, October 12th. Finally, Keefe, Bruyette & Woods lowered shares of Stewart Information Services from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $77.00 to $71.00 in a report on Monday, July 27th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $75.75.

Stewart Information Services Trading Down 1.9%

The company has a quick ratio of 1.98, a current ratio of 1.85 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average price of $58.27 and a 200-day moving average price of $64.71. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 11.18 and a beta of 1.04.

Stewart Information Services (NYSE:STC) last issued its quarterly earnings results on Wednesday, October 21st. The insurance provider reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.17). Stewart Information Services had a net margin of 3.58% and a return on equity of 9.39%. The business had revenue of $900.70 million during the quarter, compared to analysts’ expectations of $903.67 million. During the same period in the prior year, the company posted $1.64 EPS. As a group, research analysts expect that Stewart Information Services Corporation will post 4.68 EPS for the current fiscal year.

Stewart Information Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This is a positive change from Stewart Information Services’s previous quarterly dividend of $0.5250. This represents a $2.20 annualized dividend and a dividend yield of 4.9%. Stewart Information Services’s dividend payout ratio is 55.14%.

Insider Buying and Selling

In related news, insider Brian Glaze sold 1,500 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $69.16, for a total transaction of $103,740.00. Following the sale, the insider owned 11,784 shares in the company, valued at $814,981.44. This represents a 11.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas G. Apel purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 23rd. The stock was bought at an average cost of $47.73 per share, for a total transaction of $95,460.00. Following the acquisition, the director owned 46,182 shares in the company, valued at approximately $2,204,266.86. The trade was a 4.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 10,000 shares of company stock worth $460,960. 2.94% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in shares of Stewart Information Services in the second quarter valued at $347,274,000. Bank of New York Mellon Corp purchased a new stake in shares of Stewart Information Services in the 2nd quarter valued at approximately $17,759,000. Bank of America Corp DE lifted its holdings in shares of Stewart Information Services by 1.2% in the first quarter. Bank of America Corp DE now owns 215,213 shares of the insurance provider’s stock valued at $13,253,000 after purchasing an additional 2,631 shares in the last quarter. Principal Financial Group Inc. boosted its position in Stewart Information Services by 10.0% during the 1st quarter. Principal Financial Group Inc. now owns 146,870 shares of the insurance provider’s stock worth $9,044,000 after acquiring an additional 13,317 shares during the period. Finally, Heartland Advisors Inc. acquired a new position in Stewart Information Services in the 2nd quarter valued at approximately $8,252,000. 96.90% of the stock is owned by institutional investors and hedge funds.

Stewart Information Services Company Profile

Stewart Information Services Corporation (NYSE: STC) is a global provider of title insurance and real estate transaction services. Through its Stewart Title operations, the company helps protect property owners, lenders and other participants from losses arising from defects in a property’s title.

The company offers title searches and examinations, title insurance policies, escrow and closing services, settlement services, and related solutions for residential and commercial real estate transactions.