Stewart Information Services (NYSE:STC) Reaches New 1-Year High – Here’s Why

Stewart Information Services Co. (NYSE:STC)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $76.88 and last traded at $76.34, with a volume of 17874 shares traded. The stock had previously closed at $74.64.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their price target on shares of Stewart Information Services from $71.00 to $75.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 4th.

Stewart Information Services Price Performance

The stock’s 50 day moving average is $71.49 and its two-hundred day moving average is $68.76. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.94 and a quick ratio of 1.94. The stock has a market capitalization of $2.10 billion, a PE ratio of 35.59 and a beta of 1.21.

Stewart Information Services (NYSE:STC) last released its earnings results on Wednesday, October 23rd. The insurance provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.21. Stewart Information Services had a net margin of 2.47% and a return on equity of 5.77%. The firm had revenue of $667.94 million for the quarter, compared to analyst estimates of $638.40 million. During the same period in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Stewart Information Services Co. will post 3.32 earnings per share for the current fiscal year.

Stewart Information Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.65%. This is a positive change from Stewart Information Services’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Monday, September 16th. Stewart Information Services’s dividend payout ratio is presently 94.34%.

Hedge Funds Weigh In On Stewart Information Services

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in Stewart Information Services by 57.7% in 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 last quarter. Copeland Capital Management LLC purchased a new position in Stewart Information Services in the third quarter valued at approximately $61,000. Kings Path Partners LLC purchased a new position in Stewart Information Services in the second quarter valued at approximately $65,000. nVerses Capital LLC purchased a new position in Stewart Information Services in the second quarter valued at approximately $74,000. Finally, Heritage Family Offices LLP purchased a new position in Stewart Information Services in the second quarter valued at approximately $204,000. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

Stewart Information Services Company Profile

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.