Wellington Management Group LLP Cuts Stock Holdings in Stewart Information Services Co. (NYSE:STC)

Wellington Management Group LLP trimmed its position in shares of Stewart Information Services Co. (NYSE:STC) by 19.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,630 shares of the insurance provider’s stock after selling 12,276 shares during the quarter. Wellington Management Group LLP’s holdings in Stewart Information Services were worth $3,709,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Stewart Information Services by 149.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 342,090 shares of the insurance provider’s stock valued at $25,568,000 after purchasing an additional 204,688 shares in the last quarter. FMR LLC increased its holdings in shares of Stewart Information Services by 0.4% during the 3rd quarter. FMR LLC now owns 2,488,342 shares of the insurance provider’s stock valued at $185,979,000 after purchasing an additional 8,853 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Stewart Information Services by 5.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 66,071 shares of the insurance provider’s stock valued at $4,938,000 after purchasing an additional 3,272 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Stewart Information Services during the 2nd quarter valued at approximately $503,000. Finally, Millennium Management LLC increased its holdings in Stewart Information Services by 906.9% in the 2nd quarter. Millennium Management LLC now owns 656,143 shares of the insurance provider’s stock worth $40,733,000 after acquiring an additional 590,977 shares in the last quarter. 96.90% of the stock is owned by hedge funds and other institutional investors.

Stewart Information Services Price Performance

Shares of NYSE STC opened at $72.94 on Wednesday. The firm has a market cap of $2.02 billion, a PE ratio of 34.41 and a beta of 1.21. The firm has a fifty day moving average of $71.96 and a 200 day moving average of $69.84. 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 Co. has a one year low of $55.47 and a one year high of $78.44.

Stewart Information Services (NYSE:STC) last released its 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 net margin of 2.47% and a return on equity of 5.77%. The business had revenue of $667.94 million during the quarter, compared to analyst estimates of $638.40 million. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, research analysts predict that Stewart Information Services Co. will post 3.32 EPS for the current fiscal year.

Stewart Information Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Monday, December 16th. Stewart Information Services’s payout ratio is 94.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. StockNews.com raised shares of Stewart Information Services from a “hold” rating to a “buy” rating in a report on Wednesday, December 11th. Keefe, Bruyette & Woods boosted their price target on shares of Stewart Information Services from $79.00 to $84.00 and gave the stock a “market perform” rating in a report on Tuesday, December 10th.

Insider Transactions at Stewart Information Services

In other news, Director Matthew Morris sold 12,899 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $74.12, for a total transaction of $956,073.88. Following the transaction, the director now owns 65,330 shares of the company’s stock, valued at approximately $4,842,259.60. The trade was a 16.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.99% of the company’s stock.

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.