Stewart Information Services (NYSE:STC) Hits New 12-Month Low – Here’s What Happened

Stewart Information Services Corporation (NYSE:STC)’s share price hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $42.66 and last traded at $44.1710, with a volume of 428,369 shares. The stock had previously closed at $43.48.

Analysts Set New Price Targets

A number of analysts have recently weighed in on STC shares. Zacks Research cut Stewart Information Services from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 22nd. Wall Street Zen lowered shares of Stewart Information Services from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Keefe, Bruyette & Woods cut Stewart Information Services from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $77.00 to $71.00 in a report on Monday, July 27th. Weiss Ratings lowered Stewart Information Services from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, October 19th. Finally, Citizens Jmp dropped their target price on shares of Stewart Information Services from $80.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Monday, October 12th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $75.75.

Stewart Information Services Stock Performance

The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 11.40 and a beta of 1.04. The company has a current ratio of 1.85, a quick ratio of 1.98 and a debt-to-equity ratio of 0.39. The firm’s fifty day moving average price is $58.76 and its 200 day moving average price is $64.83.

Stewart Information Services (NYSE:STC) last issued its quarterly earnings results on Wednesday, October 21st. The insurance provider reported $1.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.17). Stewart Information Services had a return on equity of 9.39% and a net margin of 3.58%. The business had revenue of $900.70 million for the quarter, compared to analyst estimates of $903.67 million. During the same period in the prior year, the company posted $1.64 EPS. Analysts forecast that Stewart Information Services Corporation will post 4.68 EPS for the current fiscal year.

Stewart Information Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.55 per share. This is a boost from Stewart Information Services’s previous quarterly dividend of $0.5250. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Tuesday, September 15th. Stewart Information Services’s dividend payout ratio is presently 55.14%.

Insider Transactions at Stewart Information Services

In other Stewart Information Services news, Director William S. Jr. Corey acquired 2,000 shares of the stock in a transaction dated Friday, October 23rd. The stock was acquired at an average cost of $46.82 per share, with a total value of $93,640.00. Following the transaction, the director owned 13,433 shares in the company, valued at $628,933.06. The trade was a 17.49% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C Allen Bradley, Jr. purchased 2,000 shares of the company’s stock in a transaction on Friday, October 23rd. The stock was bought at an average price of $47.30 per share, for a total transaction of $94,600.00. Following the completion of the purchase, the director directly owned 27,034 shares of the company’s stock, valued at $1,278,708.20. The trade was a 7.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 10,000 shares of company stock valued at $460,960 over the last quarter. Insiders own 2.94% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE purchased a new stake in Stewart Information Services in the second quarter valued at approximately $10,991,000. Deutsche Bank AG purchased a new stake in shares of Stewart Information Services during the second quarter valued at approximately $2,191,000. The Manufacturers Life Insurance Company acquired a new position in Stewart Information Services in the 2nd quarter worth $987,000. BlackRock Inc. acquired a new stake in Stewart Information Services during the 2nd quarter valued at approximately $347,274,000. Finally, Empowered Funds LLC acquired a new position in Stewart Information Services during the 2nd quarter worth $8,211,000. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

About Stewart Information Services

Stewart Information Services Corporation (NYSE: STC) is a global provider of title insurance and real estate transaction services. Through its Stewart Title operations, the company helps protect property owners, lenders and other participants from losses arising from defects in a property’s title.

The company offers title searches and examinations, title insurance policies, escrow and closing services, settlement services, and related solutions for residential and commercial real estate transactions.