Intech Investment Management LLC Grows Stake in Stewart Information Services Co. (NYSE:STC)

Intech Investment Management LLC grew its holdings in shares of Stewart Information Services Co. (NYSE:STC) by 31.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,657 shares of the insurance provider’s stock after acquiring an additional 2,556 shares during the quarter. Intech Investment Management LLC’s holdings in Stewart Information Services were worth $797,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quest Partners LLC grew its holdings in shares of Stewart Information Services by 58,275.0% during the 3rd quarter. Quest Partners LLC now owns 4,670 shares of the insurance provider’s stock worth $349,000 after acquiring an additional 4,662 shares during the period. Natixis Advisors LLC grew its stake in Stewart Information Services by 5.7% in the third quarter. Natixis Advisors LLC now owns 14,888 shares of the insurance provider’s stock worth $1,113,000 after purchasing an additional 801 shares during the period. Empowered Funds LLC grew its stake in Stewart Information Services by 5.3% in the third quarter. Empowered Funds LLC now owns 85,302 shares of the insurance provider’s stock worth $6,375,000 after purchasing an additional 4,288 shares during the period. CIBC Asset Management Inc bought a new position in Stewart Information Services in the third quarter worth $205,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Stewart Information Services by 7.2% during the 3rd quarter. Victory Capital Management Inc. now owns 985,673 shares of the insurance provider’s stock valued at $73,669,000 after buying an additional 65,965 shares in the last quarter. Institutional investors own 96.90% of the company’s stock.

Stewart Information Services Price Performance

NYSE STC opened at $75.09 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.94 and a current ratio of 1.94. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 35.42 and a beta of 1.21. The stock has a 50-day moving average of $71.49 and a 200 day moving average of $68.86. Stewart Information Services Co. has a one year low of $46.40 and a one year high of $76.88.

Stewart Information Services (NYSE:STC) last released its quarterly earnings results on Wednesday, October 23rd. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $667.94 million for the quarter, compared to the consensus estimate of $638.40 million. During the same period last year, the business posted $0.86 EPS. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. On average, sell-side 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 disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.66%. This is an increase from Stewart Information Services’s previous quarterly dividend of $0.48. The ex-dividend date was Monday, September 16th. Stewart Information Services’s dividend payout ratio (DPR) is presently 94.34%.

Wall Street Analyst Weigh In

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

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.