The Manufacturers Life Insurance Company Lowers Stock Holdings in Stewart Information Services Co. (NYSE:STC)

The Manufacturers Life Insurance Company decreased its position in shares of Stewart Information Services Co. (NYSE:STC) by 2.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,238 shares of the insurance provider’s stock after selling 374 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of Stewart Information Services worth $961,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Alliancebernstein L.P. lifted its stake in Stewart Information Services by 0.5% in the 4th quarter. Alliancebernstein L.P. now owns 29,717 shares of the insurance provider’s stock worth $2,006,000 after purchasing an additional 157 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in Stewart Information Services by 6.4% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,831 shares of the insurance provider’s stock worth $191,000 after purchasing an additional 170 shares in the last quarter. Pitcairn Co. lifted its stake in Stewart Information Services by 2.6% in the 4th quarter. Pitcairn Co. now owns 6,850 shares of the insurance provider’s stock worth $462,000 after purchasing an additional 174 shares in the last quarter. Blue Trust Inc. lifted its stake in Stewart Information Services by 9.3% in the 4th quarter. Blue Trust Inc. now owns 2,434 shares of the insurance provider’s stock worth $182,000 after purchasing an additional 208 shares in the last quarter. Finally, Heritage Family Offices LLP lifted its stake in Stewart Information Services by 9.2% in the 4th quarter. Heritage Family Offices LLP now owns 3,530 shares of the insurance provider’s stock worth $238,000 after purchasing an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Stewart Information Services Stock Performance

Stewart Information Services stock opened at $65.00 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.86 and a quick ratio of 1.94. Stewart Information Services Co. has a 1-year low of $58.61 and a 1-year high of $78.44. The firm has a market capitalization of $1.81 billion, a P/E ratio of 25.00 and a beta of 1.01. The company’s 50-day moving average is $67.52 and its 200 day moving average is $68.69.

Stewart Information Services (NYSE:STC) last posted its quarterly earnings data on Wednesday, April 23rd. The insurance provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.09). Stewart Information Services had a return on equity of 6.81% and a net margin of 2.94%. The firm had revenue of $608.90 million during the quarter, compared to analysts’ expectations of $595.50 million. During the same period last year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. Research analysts forecast that Stewart Information Services Co. will post 6.29 EPS for the current year.

Stewart Information Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.00 dividend on an annualized basis and a yield of 3.08%. Stewart Information Services’s dividend payout ratio is currently 76.92%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Stephens restated an “overweight” rating and set a $82.00 target price on shares of Stewart Information Services in a research report on Thursday, February 6th. StockNews.com cut shares of Stewart Information Services from a “buy” rating to a “hold” rating in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Stewart Information Services from $74.00 to $75.00 and gave the company a “market perform” rating in a research report on Friday, February 7th.

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.