Stewart Information Services (NYSE:STC) Shares Gap Up – Here’s What Happened

Stewart Information Services Co. (NYSE:STC) gapped up before the market opened on Thursday . The stock had previously closed at $67.37, but opened at $70.45. Stewart Information Services shares last traded at $71.55, with a volume of 8,675 shares.

Analyst Ratings Changes

STC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lifted their price target on shares of Stewart Information Services from $71.00 to $75.00 and gave the stock a “market perform” rating in a report on Wednesday, September 4th. Stephens reaffirmed an “overweight” rating and set a $79.00 price target on shares of Stewart Information Services in a research report on Thursday, July 25th. StockNews.com cut shares of Stewart Information Services from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, BTIG Research boosted their target price on shares of Stewart Information Services from $68.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, July 22nd.

Stewart Information Services Stock Performance

The stock has a market cap of $1.97 billion, a P/E ratio of 45.53 and a beta of 1.20. The firm’s 50-day moving average is $71.99 and its two-hundred day moving average is $67.08. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.32.

Stewart Information Services (NYSE:STC) last announced its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.13). Stewart Information Services had a return on equity of 5.16% and a net margin of 1.85%. The company had revenue of $602.20 million during the quarter, compared to analyst estimates of $597.00 million. During the same quarter in the previous year, the business posted $0.69 EPS. The company’s revenue was up 9.7% on a year-over-year basis. As a group, research analysts expect that Stewart Information Services Co. will post 3.39 EPS for the current year.

Stewart Information Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This is a boost from Stewart Information Services’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.82%. Stewart Information Services’s dividend payout ratio (DPR) is presently 128.21%.

Insider Buying and Selling at Stewart Information Services

In related news, CFO David C. Hisey sold 12,649 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $69.27, for a total value of $876,196.23. Following the completion of the transaction, the chief financial officer now directly owns 55,917 shares in the company, valued at approximately $3,873,370.59. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Stewart Information Services

A number of institutional investors and hedge funds have recently made changes to their positions in STC. Blue Trust Inc. grew its holdings in Stewart Information Services by 57.7% in the 2nd quarter. Blue Trust Inc. now owns 716 shares of the insurance provider’s stock valued at $47,000 after buying an additional 262 shares in the last quarter. Copeland Capital Management LLC bought a new position in Stewart Information Services in the third quarter valued at about $61,000. Kings Path Partners LLC bought a new position in Stewart Information Services in the second quarter valued at about $65,000. nVerses Capital LLC bought a new position in shares of Stewart Information Services during the second quarter worth about $74,000. Finally, SG Americas Securities LLC bought a new stake in Stewart Information Services in the first quarter worth approximately $111,000. 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.