CIBC Asset Management Inc Takes $205,000 Position in Stewart Information Services Co. (NYSE:STC)

CIBC Asset Management Inc acquired a new position in shares of Stewart Information Services Co. (NYSE:STC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,742 shares of the insurance provider’s stock, valued at approximately $205,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Stewart Information Services by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 1,922,385 shares of the insurance provider’s stock worth $125,070,000 after buying an additional 15,910 shares in the last quarter. Intech Investment Management LLC purchased a new position in Stewart Information Services in the second quarter worth $503,000. Assenagon Asset Management S.A. increased its stake in Stewart Information Services by 1.5% in the second quarter. Assenagon Asset Management S.A. now owns 83,944 shares of the insurance provider’s stock valued at $5,211,000 after acquiring an additional 1,217 shares during the last quarter. Millennium Management LLC raised its position in Stewart Information Services by 906.9% during the second quarter. Millennium Management LLC now owns 656,143 shares of the insurance provider’s stock valued at $40,733,000 after purchasing an additional 590,977 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Stewart Information Services by 7.2% during the third quarter. Victory Capital Management Inc. now owns 985,673 shares of the insurance provider’s stock worth $73,669,000 after purchasing an additional 65,965 shares during the last quarter. 96.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods raised their price objective on Stewart Information Services from $71.00 to $75.00 and gave the company a “market perform” rating in a report on Wednesday, September 4th.

Stewart Information Services Stock Performance

NYSE STC opened at $74.64 on Friday. The company has a 50-day simple moving average of $71.50 and a two-hundred day simple moving average of $68.43. Stewart Information Services Co. has a 12-month low of $45.53 and a 12-month high of $76.83. The firm has a market cap of $2.07 billion, a price-to-earnings ratio of 35.21 and a beta of 1.21. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.32.

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

Stewart Information Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. This is a positive change 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 2.68%. The ex-dividend date was Monday, September 16th. Stewart Information Services’s dividend payout ratio is currently 94.34%.

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.