Hsbc Holdings PLC Cuts Position in Stewart Information Services Co. (NYSE:STC)

Hsbc Holdings PLC reduced its position in shares of Stewart Information Services Co. (NYSE:STC) by 85.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,559 shares of the insurance provider’s stock after selling 38,026 shares during the period. Hsbc Holdings PLC’s holdings in Stewart Information Services were worth $405,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of STC. Vanguard Group Inc. grew its position 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 acquiring an additional 15,910 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Stewart Information Services by 3.4% in the second quarter. Victory Capital Management Inc. now owns 919,708 shares of the insurance provider’s stock valued at $57,095,000 after purchasing an additional 29,864 shares in the last quarter. DAVENPORT & Co LLC increased its stake in Stewart Information Services by 10.5% during the 1st quarter. DAVENPORT & Co LLC now owns 780,128 shares of the insurance provider’s stock worth $50,755,000 after buying an additional 74,351 shares during the period. Tributary Capital Management LLC lifted its holdings in Stewart Information Services by 0.3% during the 2nd quarter. Tributary Capital Management LLC now owns 330,977 shares of the insurance provider’s stock worth $20,547,000 after buying an additional 984 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Stewart Information Services by 3.6% in the 2nd quarter. Renaissance Technologies LLC now owns 149,800 shares of the insurance provider’s stock valued at $9,300,000 after buying an additional 5,200 shares during the period. 96.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their price objective on Stewart Information Services from $71.00 to $75.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 4th. StockNews.com lowered Stewart Information Services from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. BTIG Research boosted their price objective on Stewart Information Services from $68.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Stephens reaffirmed an “overweight” rating and issued a $79.00 target price on shares of Stewart Information Services in a report on Thursday, July 25th.

Insider Buying and Selling

In other Stewart Information Services news, CFO David C. Hisey sold 12,649 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $69.27, for a total value of $876,196.23. Following the completion of the transaction, the chief financial officer now owns 55,917 shares in the company, valued at $3,873,370.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is owned by company insiders.

Stewart Information Services Stock Down 2.7 %

Stewart Information Services stock opened at $72.75 on Wednesday. The stock has a market cap of $2.01 billion, a PE ratio of 48.02 and a beta of 1.20. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.97 and a quick ratio of 1.97. The stock’s fifty day moving average is $72.15 and its two-hundred day moving average is $66.24. Stewart Information Services Co. has a 1-year low of $38.40 and a 1-year high of $76.83.

Stewart Information Services (NYSE:STC) last posted its earnings results 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). The business had revenue of $602.20 million for the quarter, compared to analysts’ expectations of $597.00 million. Stewart Information Services had a return on equity of 5.16% and a net margin of 1.85%. Stewart Information Services’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 EPS. On average, sell-side analysts expect that Stewart Information Services Co. will post 3.39 EPS for the current fiscal year.

Stewart Information Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.75%. 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 131.58%.

About Stewart Information Services

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.