Short Interest in Stewart Information Services Co. (NYSE:STC) Drops By 30.2%

Stewart Information Services Co. (NYSE:STC) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 673,800 shares, a drop of 30.2% from the March 15th total of 965,400 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average daily volume of 195,400 shares, the short-interest ratio is presently 3.4 days.

Stewart Information Services Price Performance

Shares of NYSE:STC traded up $0.11 during trading on Friday, reaching $65.27. 118,356 shares of the company’s stock traded hands, compared to its average volume of 170,275. The company has a quick ratio of 1.94, a current ratio of 1.86 and a debt-to-equity ratio of 0.32. Stewart Information Services has a fifty-two week low of $58.61 and a fifty-two week high of $78.44. The company has a 50-day simple moving average of $69.01 and a 200-day simple moving average of $69.22. The firm has a market cap of $1.82 billion, a PE ratio of 25.11 and a beta of 1.05.

Stewart Information Services (NYSE:STC) last issued its quarterly earnings data on Wednesday, February 5th. The insurance provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.11 by $0.01. Stewart Information Services had a return on equity of 6.81% and a net margin of 2.94%. As a group, analysts predict that Stewart Information Services will post 6.29 earnings per share for the current year.

Stewart Information Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Monday, March 17th. Stewart Information Services’s dividend payout ratio is presently 76.92%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on STC. Keefe, Bruyette & Woods increased their price target on Stewart Information Services from $74.00 to $75.00 and gave the stock a “market perform” rating in a research report on Friday, February 7th. Stephens reiterated an “overweight” rating and set a $82.00 price target on shares of Stewart Information Services in a research report on Thursday, February 6th. Finally, StockNews.com upgraded Stewart Information Services from a “hold” rating to a “buy” rating in a research report on Wednesday.

Hedge Funds Weigh In On Stewart Information Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC raised its position in shares of Stewart Information Services by 310.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 452 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 342 shares during the last quarter. Sterling Capital Management LLC increased its stake in Stewart Information Services by 807.4% during the 4th quarter. Sterling Capital Management LLC now owns 853 shares of the insurance provider’s stock worth $58,000 after buying an additional 759 shares in the last quarter. State of Wyoming raised its holdings in shares of Stewart Information Services by 84.0% during the fourth quarter. State of Wyoming now owns 1,461 shares of the insurance provider’s stock valued at $99,000 after acquiring an additional 667 shares during the last quarter. KBC Group NV lifted its position in shares of Stewart Information Services by 58.7% in the fourth quarter. KBC Group NV now owns 1,546 shares of the insurance provider’s stock valued at $104,000 after acquiring an additional 572 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Stewart Information Services by 9.3% in the fourth quarter. Blue Trust Inc. now owns 2,434 shares of the insurance provider’s stock worth $182,000 after acquiring an additional 208 shares during the last quarter. 96.90% of the stock is owned by hedge funds and other institutional investors.

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.