Prudential Financial Inc. Lowers Stake in Stewart Information Services Corp (NYSE:STC)
Prudential Financial Inc. lowered its stake in shares of Stewart Information Services Corp (NYSE:STC) by 1.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,397 shares of the insurance provider’s stock after selling 580 shares during the period. Prudential Financial Inc. owned 0.16% of Stewart Information Services worth $1,555,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC increased its position in shares of Stewart Information Services by 122.0% during the second quarter. Parallel Advisors LLC now owns 797 shares of the insurance provider’s stock worth $32,000 after purchasing an additional 438 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Stewart Information Services during the first quarter worth $127,000. Eqis Capital Management Inc. acquired a new position in shares of Stewart Information Services in the 2nd quarter valued at $214,000. Laurel Wealth Advisors Inc. acquired a new position in shares of Stewart Information Services in the 1st quarter valued at $252,000. Finally, Piedmont Investment Advisors Inc. increased its position in shares of Stewart Information Services by 5.5% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 5,954 shares of the insurance provider’s stock valued at $254,000 after acquiring an additional 311 shares during the period. Institutional investors own 88.28% of the company’s stock.
Separately, Zacks Investment Research downgraded Stewart Information Services from a “buy” rating to a “sell” rating in a research report on Friday, June 7th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $46.33.
Stewart Information Services (NYSE:STC) last announced its quarterly earnings results on Thursday, July 25th. The insurance provider reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.08). The company had revenue of $472.08 million for the quarter. Stewart Information Services had a return on equity of 6.87% and a net margin of 2.24%. Equities research analysts predict that Stewart Information Services Corp will post 2.62 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Friday, September 13th. Stewart Information Services’s dividend payout ratio is currently 55.56%.
In other Stewart Information Services news, Director James M. Chadwick sold 4,906 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $35.27, for a total transaction of $173,034.62. Following the sale, the director now directly owns 1,706 shares of the company’s stock, valued at approximately $60,170.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.50% of the stock is currently owned by company insiders.
Stewart Information Services 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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