New York Life Investment Management LLC Cuts Position in Stewart Information Services Co. (NYSE:STC)

New York Life Investment Management LLC lessened its stake in Stewart Information Services Co. (NYSE:STCFree Report) by 13.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,823 shares of the insurance provider’s stock after selling 1,391 shares during the quarter. New York Life Investment Management LLC’s holdings in Stewart Information Services were worth $386,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of STC. Assenagon Asset Management S.A. purchased a new position in shares of Stewart Information Services in the 2nd quarter valued at about $2,013,000. Granite Investment Partners LLC increased its stake in Stewart Information Services by 144.3% during the 2nd quarter. Granite Investment Partners LLC now owns 375,156 shares of the insurance provider’s stock worth $15,434,000 after buying an additional 221,565 shares in the last quarter. Shay Capital LLC purchased a new stake in Stewart Information Services during the 2nd quarter worth approximately $411,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Stewart Information Services by 17.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,868 shares of the insurance provider’s stock valued at $571,000 after purchasing an additional 2,083 shares in the last quarter. Finally, Comerica Bank purchased a new stake in shares of Stewart Information Services in the second quarter valued at approximately $3,862,000. Institutional investors and hedge funds own 96.78% of the company’s stock.

Stewart Information Services Trading Up 1.0 %

Shares of STC opened at $60.37 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.09 and a quick ratio of 2.03. The firm has a 50 day simple moving average of $58.30 and a 200-day simple moving average of $49.62. Stewart Information Services Co. has a 1-year low of $36.01 and a 1-year high of $63.87. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 54.39 and a beta of 1.16.

Stewart Information Services (NYSE:STCGet Free Report) last posted its earnings results on Thursday, February 8th. The insurance provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. Stewart Information Services had a net margin of 1.35% and a return on equity of 3.85%. The business had revenue of $582.17 million for the quarter, compared to analyst estimates of $566.46 million. During the same quarter in the previous year, the business posted $0.60 EPS. The business’s quarterly revenue was down 11.2% on a year-over-year basis. Equities analysts forecast that Stewart Information Services Co. will post 4.5 EPS for the current fiscal year.

Stewart Information Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Thursday, December 14th. Stewart Information Services’s dividend payout ratio (DPR) is 171.17%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on STC. Keefe, Bruyette & Woods upped their price target on Stewart Information Services from $46.00 to $56.00 and gave the company a “market perform” rating in a research report on Wednesday, December 13th. BTIG Research upgraded Stewart Information Services from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Monday, December 4th. Finally, Stephens reiterated an “overweight” rating and issued a $76.00 price objective on shares of Stewart Information Services in a report on Thursday. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $67.33.

Get Our Latest Stock Analysis on STC

Stewart Information Services Company Profile

(Free Report)

Stewart Information Services Corporation, through its subsidiaries, provides title insurance and real estate transaction related services. The company operates through Title and Real Estate Solutions segments. The Title segment is involved in searching, examining, closing, and insuring the condition of the title to real property.

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Institutional Ownership by Quarter for Stewart Information Services (NYSE:STC)

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