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

Stewart Information Services Co. (NYSE:STC) shares gapped up prior to trading 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.

Analysts Set New Price Targets

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

Stewart Information Services Price Performance

The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.32. The firm’s 50 day simple moving average is $71.99 and its 200 day simple moving average is $67.08. The company has a market capitalization of $1.97 billion, a PE ratio of 45.53 and a beta of 1.20.

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

Stewart Information Services Increases Dividend

The firm also recently declared 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. This is a positive change from Stewart Information Services’s previous quarterly dividend of $0.48. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.82%. Stewart Information Services’s payout ratio is presently 128.21%.

Insider Activity at Stewart Information Services

In other Stewart Information Services 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 of the company’s stock, valued at approximately $3,873,370.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Stewart Information Services

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new stake in Stewart Information Services during the 1st quarter worth approximately $576,000. Vanguard Group Inc. lifted its stake in shares of Stewart Information Services by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,922,385 shares of the insurance provider’s stock worth $125,070,000 after acquiring an additional 15,910 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Stewart Information Services in the 2nd quarter worth $503,000. Assenagon Asset Management S.A. lifted its stake in shares of Stewart Information Services by 1.5% in the second quarter. Assenagon Asset Management S.A. now owns 83,944 shares of the insurance provider’s stock valued at $5,211,000 after purchasing an additional 1,217 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Stewart Information Services by 906.9% in the second quarter. Millennium Management LLC now owns 656,143 shares of the insurance provider’s stock valued at $40,733,000 after purchasing an additional 590,977 shares during the period. 96.90% of the stock is currently owned by institutional investors and hedge funds.

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.