Stewart Information Services (NYSE:STC) Shares Gap Up Following Strong Earnings

Stewart Information Services Co. (NYSE:STC)’s stock price gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. 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 traded.

The insurance provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.21. The business had revenue of $667.94 million for the quarter, compared to analysts’ expectations of $638.40 million. Stewart Information Services had a return on equity of 5.16% and a net margin of 1.85%. Stewart Information Services’s quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 earnings per share.

Stewart Information Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given 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 2.90%. Stewart Information Services’s payout ratio is currently 131.58%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on STC. Keefe, Bruyette & Woods boosted their price objective 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. BTIG Research upped their price target on Stewart Information Services from $68.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Stephens reiterated an “overweight” rating and issued a $79.00 price target on shares of Stewart Information Services in a research report on Thursday, July 25th. Finally, StockNews.com cut Stewart Information Services from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd.

Insider Buying and Selling at Stewart Information Services

In other news, CFO David C. Hisey sold 12,649 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $69.27, for a total transaction of $876,196.23. Following the sale, the chief financial officer now owns 55,917 shares in the company, valued at approximately $3,873,370.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

Institutional Trading of Stewart Information Services

Several large investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Stewart Information Services by 2.7% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,430 shares of the insurance provider’s stock worth $337,000 after purchasing an additional 144 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Stewart Information Services by 2.2% during the second quarter. Arizona State Retirement System now owns 7,688 shares of the insurance provider’s stock worth $477,000 after purchasing an additional 168 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Stewart Information Services by 1.4% during the second quarter. The Manufacturers Life Insurance Company now owns 13,538 shares of the insurance provider’s stock worth $840,000 after purchasing an additional 186 shares during the last quarter. Blue Trust Inc. lifted its stake 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 acquiring an additional 262 shares during the period. Finally, Louisiana State Employees Retirement System lifted its stake 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 valued at $863,000 after acquiring an additional 300 shares during the period. Institutional investors own 96.90% of the company’s stock.

Stewart Information Services Stock Down 3.4 %

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 firm has a market cap of $1.90 billion, a price-to-earnings ratio of 45.40 and a beta of 1.20. The firm has a 50 day moving average price of $71.98 and a 200-day moving average price of $67.14.

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.