Maryland State Retirement & Pension System Reduces Holdings in Stewart Information Services Co. (NYSE:STC)

Maryland State Retirement & Pension System lowered its position in Stewart Information Services Co. (NYSE:STC) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,616 shares of the insurance provider’s stock after selling 329 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Stewart Information Services were worth $597,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Stewart Information Services by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,922,748 shares of the insurance provider’s stock worth $112,963,000 after purchasing an additional 59,639 shares in the last quarter. 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 valued at $125,070,000 after buying an additional 15,910 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Stewart Information Services by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 951,699 shares of the insurance provider’s stock valued at $55,912,000 after acquiring an additional 8,004 shares during the period. DAVENPORT & Co LLC lifted its position in shares of Stewart Information Services by 10.5% during the first quarter. DAVENPORT & Co LLC now owns 780,128 shares of the insurance provider’s stock worth $50,755,000 after acquiring an additional 74,351 shares in the last quarter. Finally, Tributary Capital Management LLC boosted its holdings in shares of Stewart Information Services by 0.3% in the second quarter. Tributary Capital Management LLC now owns 330,977 shares of the insurance provider’s stock worth $20,547,000 after acquiring an additional 984 shares during the period. 96.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO David C. Hisey sold 12,649 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $69.27, for a total transaction of $876,196.23. Following the transaction, the chief financial officer now directly owns 55,917 shares in the company, valued at approximately $3,873,370.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on STC. Keefe, Bruyette & Woods increased their price objective on Stewart Information Services from $61.00 to $71.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Stephens reissued an “overweight” rating and issued a $79.00 price target on shares of Stewart Information Services in a report on Thursday, July 25th. StockNews.com lowered shares of Stewart Information Services from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, BTIG Research upped their target price on shares of Stewart Information Services from $68.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, July 22nd.

Stewart Information Services Stock Up 0.3 %

STC stock opened at $73.91 on Tuesday. Stewart Information Services Co. has a 1-year low of $38.40 and a 1-year high of $74.46. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 48.63 and a beta of 1.21. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $68.66 and its 200 day moving average is $64.55.

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 the consensus estimate of $1.04 by ($0.13). Stewart Information Services had a net margin of 1.85% and a return on equity of 5.16%. The company had revenue of $602.20 million for the quarter, compared to analysts’ expectations of $597.00 million. During the same quarter last year, the business posted $0.69 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. Sell-side analysts predict that Stewart Information Services Co. will post 3.39 EPS for the current fiscal year.

Stewart Information Services 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.