Stewart Information Services Corp (NYSE:STC) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 732,300 shares, a growth of 32.4% from the May 30th total of 553,000 shares. Approximately 3.2% of the company’s shares are short sold. Based on an average daily trading volume, of 131,800 shares, the days-to-cover ratio is presently 5.6 days.
Separately, Zacks Investment Research downgraded Home Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, June 7th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Stewart Information Services currently has a consensus rating of “Hold” and a consensus target price of $46.33.
A number of institutional investors have recently modified their holdings of STC. Outlook Wealth Advisors LLC raised its stake in shares of Stewart Information Services by 400.0% in the 1st quarter. Outlook Wealth Advisors LLC now owns 246,852 shares of the insurance provider’s stock valued at $10,538,000 after purchasing an additional 197,482 shares during the period. BlackRock Inc. raised its stake in shares of Stewart Information Services by 4.4% in the 4th quarter. BlackRock Inc. now owns 3,486,404 shares of the insurance provider’s stock valued at $144,339,000 after purchasing an additional 145,621 shares during the period. Yakira Capital Management Inc. raised its stake in shares of Stewart Information Services by 243.4% in the 1st quarter. Yakira Capital Management Inc. now owns 196,573 shares of the insurance provider’s stock valued at $8,392,000 after purchasing an additional 139,326 shares during the period. CNH Partners LLC raised its stake in shares of Stewart Information Services by 25.3% in the 1st quarter. CNH Partners LLC now owns 551,658 shares of the insurance provider’s stock valued at $23,550,000 after purchasing an additional 111,534 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Stewart Information Services by 20.6% in the 4th quarter. Millennium Management LLC now owns 374,395 shares of the insurance provider’s stock valued at $15,500,000 after purchasing an additional 63,972 shares during the period. 88.32% of the stock is currently owned by institutional investors and hedge funds.
Stewart Information Services stock traded up $0.48 during mid-day trading on Friday, hitting $40.10. 229,829 shares of the company’s stock were exchanged, compared to its average volume of 120,350. The firm has a market capitalization of $950.37 million, a price-to-earnings ratio of 19.00 and a beta of 0.59. Stewart Information Services has a fifty-two week low of $39.37 and a fifty-two week high of $45.75. The company has a quick ratio of 3.81, a current ratio of 3.81 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average price of $41.10.
Stewart Information Services (NYSE:STC) last issued its quarterly earnings data on Thursday, April 25th. The insurance provider reported ($0.06) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.11). The business had revenue of $398.52 million for the quarter. Stewart Information Services had a return on equity of 7.41% and a net margin of 2.38%. On average, sell-side analysts anticipate that Stewart Information Services will post 2.47 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.99%. The ex-dividend date was Thursday, June 13th. Stewart Information Services’s payout ratio is presently 55.56%.
Stewart Information Services Company Profile
Stewart Information Services Corporation, through its subsidiaries, provides title insurance and real estate transaction services. The company operates in two segments, Title Insurance and Related Services, and Ancillary Services and Corporate. The Title Insurance and Related Services segment is involved in searching, examining, closing, and insuring the condition of the title to real property.
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