Stewart Information Services Co. (NYSE:STC) Shares Sold by Pitcairn Co.

Pitcairn Co. lowered its holdings in Stewart Information Services Co. (NYSE:STC) by 10.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,676 shares of the insurance provider’s stock after selling 786 shares during the period. Pitcairn Co.’s holdings in Stewart Information Services were worth $499,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in STC. Millennium Management LLC increased its stake in shares of Stewart Information Services by 906.9% during the 2nd quarter. Millennium Management LLC now owns 656,143 shares of the insurance provider’s stock valued at $40,733,000 after acquiring an additional 590,977 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Stewart Information Services by 149.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 342,090 shares of the insurance provider’s stock valued at $25,568,000 after purchasing an additional 204,688 shares during the period. Emerald Advisers LLC acquired a new position in Stewart Information Services during the third quarter worth approximately $5,330,000. Victory Capital Management Inc. increased its position in Stewart Information Services by 7.2% during the third quarter. Victory Capital Management Inc. now owns 985,673 shares of the insurance provider’s stock worth $73,669,000 after purchasing an additional 65,965 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in Stewart Information Services during the third quarter worth approximately $3,770,000. 96.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods boosted their price objective on shares of Stewart Information Services from $71.00 to $75.00 and gave the company a “market perform” rating in a research note on Wednesday, September 4th.

Stewart Information Services Price Performance

STC opened at $76.33 on Tuesday. The company has a 50 day moving average of $71.47 and a two-hundred day moving average of $68.59. Stewart Information Services Co. has a 52-week low of $45.53 and a 52-week high of $76.88. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. The company has a market cap of $2.12 billion, a P/E ratio of 36.00 and a beta of 1.21.

Stewart Information Services (NYSE:STC) last released its quarterly earnings data on Wednesday, October 23rd. The insurance provider reported $1.17 EPS for the quarter, beating the consensus estimate of $0.96 by $0.21. The company had revenue of $667.94 million for the quarter, compared to analyst estimates of $638.40 million. Stewart Information Services had a return on equity of 5.77% and a net margin of 2.47%. The firm’s revenue was up 11.0% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. On average, analysts expect that Stewart Information Services Co. will post 3.32 earnings per share for the current year.

Stewart Information Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.62%. This is a positive change from Stewart Information Services’s previous quarterly dividend of $0.48. Stewart Information Services’s dividend payout ratio (DPR) is currently 94.34%.

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.