Truist Financial Corp Increases Stock Position in Stewart Information Services Co. (NYSE:STC)

Truist Financial Corp grew its stake in shares of Stewart Information Services Co. (NYSE:STC) by 7.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,645 shares of the insurance provider’s stock after buying an additional 319 shares during the period. Truist Financial Corp’s holdings in Stewart Information Services were worth $288,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. grew its stake in shares of Stewart Information Services by 57.7% during the 2nd quarter. Blue Trust Inc. now owns 716 shares of the insurance provider’s stock valued at $47,000 after buying an additional 262 shares during the period. Kings Path Partners LLC purchased a new stake in Stewart Information Services during the 2nd quarter worth $65,000. nVerses Capital LLC purchased a new stake in Stewart Information Services during the 2nd quarter worth $74,000. SG Americas Securities LLC purchased a new stake in Stewart Information Services during the 1st quarter worth $111,000. Finally, Heritage Family Offices LLP purchased a new stake in Stewart Information Services during the 2nd quarter worth $204,000. 96.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on STC shares. BTIG Research upped their price target on shares of Stewart Information Services from $68.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. StockNews.com cut shares of Stewart Information Services from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Stephens reaffirmed an “overweight” rating and set a $79.00 price target on shares of Stewart Information Services in a research report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods upped 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 report on Wednesday, September 4th.

Stewart Information Services Stock Performance

NYSE:STC opened at $70.42 on Friday. 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 50-day moving average of $72.10 and a two-hundred day moving average of $66.97. The stock has a market cap of $1.94 billion, a P/E ratio of 46.33 and a beta of 1.20. Stewart Information Services Co. has a 1-year low of $38.40 and a 1-year high of $76.83.

Stewart Information Services (NYSE:STC) last posted its quarterly earnings data on Wednesday, July 24th. The insurance provider reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.13). The firm had revenue of $602.20 million during the quarter, compared to analysts’ expectations of $597.00 million. Stewart Information Services had a net margin of 1.85% and a return on equity of 5.16%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.69 earnings per share. On average, research analysts expect that Stewart Information Services Co. will post 3.39 earnings per share for the current fiscal year.

Stewart Information Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. 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 yield of 2.84%. The ex-dividend date was Monday, September 16th. Stewart Information Services’s dividend payout ratio is presently 131.58%.

Insider Buying and Selling at Stewart Information Services

In other news, CFO David C. Hisey sold 12,649 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $69.27, for a total value 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

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.