Principal Financial Group Inc. Acquires 3,821 Shares of Stewart Information Services Corporation (NYSE:STC)

Principal Financial Group Inc. raised its holdings in shares of Stewart Information Services Corporation (NYSE:STC) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,212 shares of the insurance provider’s stock after purchasing an additional 3,821 shares during the quarter. Principal Financial Group Inc. owned 0.50% of Stewart Information Services worth $9,861,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Teacher Retirement System of Texas lifted its position in shares of Stewart Information Services by 381.3% during the first quarter. Teacher Retirement System of Texas now owns 67,255 shares of the insurance provider’s stock worth $4,799,000 after purchasing an additional 53,282 shares during the last quarter. Pinnacle Financial Partners Inc purchased a new position in shares of Stewart Information Services during the first quarter valued at $283,000. Allspring Global Investments Holdings LLC increased its stake in shares of Stewart Information Services by 1.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,682,009 shares of the insurance provider’s stock valued at $120,600,000 after buying an additional 30,160 shares during the period. First Citizens Bank & Trust Co. purchased a new position in shares of Stewart Information Services during the first quarter valued at $218,000. Finally, Heritage Family Offices LLP increased its stake in shares of Stewart Information Services by 8.8% during the first quarter. Heritage Family Offices LLP now owns 3,840 shares of the insurance provider’s stock valued at $274,000 after buying an additional 310 shares during the period. 96.90% of the stock is currently owned by institutional investors.

Insider Transactions at Stewart Information Services

In related news, Director C Allen Bradley, Jr. bought 1,000 shares of the business’s stock in a transaction on Wednesday, May 28th. The shares were bought at an average price of $59.63 per share, for a total transaction of $59,630.00. Following the completion of the purchase, the director directly owned 20,243 shares of the company’s stock, valued at approximately $1,207,090.09. This trade represents a 5.20% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.78% of the stock is owned by company insiders.

Analyst Ratings Changes

STC has been the topic of several research reports. Wall Street Zen lowered Stewart Information Services from a “buy” rating to a “hold” rating in a research note on Thursday, April 24th. Keefe, Bruyette & Woods cut their price target on Stewart Information Services from $75.00 to $72.00 and set a “market perform” rating on the stock in a research note on Thursday, July 10th.

Stewart Information Services Price Performance

STC opened at $59.98 on Tuesday. The business’s 50-day moving average is $63.29 and its two-hundred day moving average is $65.84. Stewart Information Services Corporation has a 1 year low of $58.61 and a 1 year high of $78.44. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market capitalization of $1.67 billion, a PE ratio of 23.07 and a beta of 0.99.

Stewart Information Services (NYSE:STC) last posted its earnings results on Wednesday, April 23rd. The insurance provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.09). Stewart Information Services had a net margin of 2.88% and a return on equity of 6.92%. The company had revenue of $608.90 million during the quarter, compared to analysts’ expectations of $595.50 million. During the same quarter last year, the firm earned $0.17 EPS. Stewart Information Services’s revenue for the quarter was up 10.4% on a year-over-year basis. Research analysts anticipate that Stewart Information Services Corporation will post 6.29 earnings per share for the current fiscal year.

Stewart Information Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a $0.50 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.00 annualized dividend and a yield of 3.33%. Stewart Information Services’s dividend payout ratio (DPR) is presently 76.92%.

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.