Meeder Asset Management Inc. Sells 4,965 Shares of Stewart Information Services Co. (NYSE:STC)

Meeder Asset Management Inc. lowered its stake in Stewart Information Services Co. (NYSE:STC) by 47.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 5,579 shares of the insurance provider’s stock after selling 4,965 shares during the period. Meeder Asset Management Inc.’s holdings in Stewart Information Services were worth $346,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Stewart Information Services by 2.7% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,430 shares of the insurance provider’s stock valued at $337,000 after purchasing an additional 144 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Stewart Information Services by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 7,688 shares of the insurance provider’s stock valued at $477,000 after acquiring an additional 168 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Stewart Information Services by 57.7% during the second quarter. Blue Trust Inc. now owns 716 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 262 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Stewart Information Services by 2.2% during the second quarter. Louisiana State Employees Retirement System now owns 13,900 shares of the insurance provider’s stock worth $863,000 after purchasing an additional 300 shares during the period. Finally, Texas Permanent School Fund Corp grew its holdings in shares of Stewart Information Services by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 23,954 shares of the insurance provider’s stock valued at $1,558,000 after buying an additional 317 shares during the last quarter. 96.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Stewart Information Services

In related news, CFO David C. Hisey sold 12,649 shares of Stewart Information Services stock in a transaction dated 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 owns 55,917 shares in the company, valued at $3,873,370.59. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of Stewart Information Services from $71.00 to $75.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 4th. Stephens reaffirmed an “overweight” rating and set a $79.00 target price on shares of Stewart Information Services in a report on Thursday, July 25th. BTIG Research upped their price target on shares of Stewart Information Services from $68.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, StockNews.com lowered shares of Stewart Information Services from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd.

Stewart Information Services Price Performance

Shares of NYSE:STC opened at $76.01 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.97 and a quick ratio of 1.97. The company has a market capitalization of $2.10 billion, a PE ratio of 50.01 and a beta of 1.20. Stewart Information Services Co. has a 1-year low of $38.40 and a 1-year high of $76.11. The business has a fifty day moving average price of $70.38 and a 200-day moving average price of $65.10.

Stewart Information Services (NYSE:STC) last posted its earnings results on Wednesday, July 24th. The insurance provider reported $0.91 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $597.00 million. During the same period last year, the firm posted $0.69 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities analysts expect 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 will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Monday, September 16th. This is a positive change from Stewart Information Services’s previous quarterly dividend of $0.48. Stewart Information Services’s dividend payout ratio is presently 131.58%.

About Stewart Information Services

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.