Principal Financial Group Inc. Cuts Position in Stewart Information Services Co. (NYSE:STC)

Principal Financial Group Inc. reduced its stake in shares of Stewart Information Services Co. (NYSE:STC) by 4.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 130,453 shares of the insurance provider’s stock after selling 5,548 shares during the period. Principal Financial Group Inc.’s holdings in Stewart Information Services were worth $9,750,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in STC. Arizona State Retirement System increased its stake in Stewart Information Services by 2.2% in the 2nd quarter. Arizona State Retirement System now owns 7,688 shares of the insurance provider’s stock valued at $477,000 after purchasing an additional 168 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Stewart Information Services by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,538 shares of the insurance provider’s stock worth $840,000 after purchasing an additional 186 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Stewart Information Services by 7.4% during the second quarter. Truist Financial Corp now owns 4,645 shares of the insurance provider’s stock valued at $288,000 after acquiring an additional 319 shares during the last quarter. Trust Point Inc. grew its holdings in Stewart Information Services by 5.0% in the 3rd quarter. Trust Point Inc. now owns 13,918 shares of the insurance provider’s stock valued at $1,040,000 after buying an additional 659 shares during the period. Finally, Natixis Advisors LLC raised its stake in shares of Stewart Information Services by 5.7% in the 3rd quarter. Natixis Advisors LLC now owns 14,888 shares of the insurance provider’s stock valued at $1,113,000 after acquiring an additional 801 shares during the period. 96.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Stewart Information Services

In related news, Director Matthew Morris sold 12,899 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $74.12, for a total value of $956,073.88. Following the sale, the director now owns 65,330 shares of the company’s stock, valued at approximately $4,842,259.60. This trade represents a 16.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.

Stewart Information Services Stock Performance

Shares of Stewart Information Services stock opened at $67.87 on Tuesday. The firm has a market cap of $1.88 billion, a PE ratio of 32.01 and a beta of 1.21. Stewart Information Services Co. has a 1 year low of $56.16 and a 1 year high of $78.44. The firm’s 50-day simple moving average is $72.07 and its 200-day simple moving average is $70.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.94 and a current ratio of 1.94.

Stewart Information Services (NYSE:STC) last released its earnings results on Wednesday, October 23rd. The insurance provider reported $1.17 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 company had revenue of $667.94 million for the quarter, compared to the consensus estimate of $638.40 million. During the same quarter last year, the business posted $0.86 EPS. Stewart Information Services’s quarterly revenue was up 11.0% compared to the same quarter last year. Equities analysts forecast that Stewart Information Services Co. will post 3.32 earnings per share for the current fiscal year.

Stewart Information Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.95%. Stewart Information Services’s dividend payout ratio (DPR) is 94.34%.

Wall Street Analyst Weigh In

STC has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their target price on Stewart Information Services from $79.00 to $84.00 and gave the stock a “market perform” rating in a research report on Tuesday, December 10th. StockNews.com upgraded shares of Stewart Information Services from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th.

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.