Bank of New York Mellon Corp Lowers Holdings in Stewart Information Services Corporation (NYSE:STC)

Bank of New York Mellon Corp lowered its stake in Stewart Information Services Corporation (NYSE:STC) by 5.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 283,024 shares of the insurance provider’s stock after selling 16,351 shares during the quarter. Bank of New York Mellon Corp owned about 1.02% of Stewart Information Services worth $20,194,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its stake in Stewart Information Services by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 138,212 shares of the insurance provider’s stock worth $9,861,000 after acquiring an additional 3,821 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Stewart Information Services by 1.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,682,009 shares of the insurance provider’s stock worth $120,600,000 after acquiring an additional 30,160 shares during the last quarter. Pinnacle Financial Partners Inc purchased a new position in shares of Stewart Information Services during the 1st quarter worth about $283,000. KLP Kapitalforvaltning AS bought a new position in Stewart Information Services during the 4th quarter valued at about $385,000. Finally, Deutsche Bank AG lifted its stake in Stewart Information Services by 55.4% in the fourth quarter. Deutsche Bank AG now owns 23,233 shares of the insurance provider’s stock worth $1,568,000 after purchasing an additional 8,284 shares during the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on STC shares. Wall Street Zen downgraded Stewart Information Services from a “buy” rating to a “hold” rating in a research report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their price objective on Stewart Information Services from $75.00 to $72.00 and set a “market perform” rating on the stock in a report on Thursday, July 10th.

Insider Activity

In other news, Director C Allen Bradley, Jr. purchased 1,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was bought at an average price of $59.63 per share, with a total value of $59,630.00. Following the transaction, the director owned 20,243 shares in the company, valued at $1,207,090.09. The trade was a 5.20% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by insiders.

Stewart Information Services Stock Down 0.6%

Shares of NYSE STC opened at $58.40 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $1.63 billion, a PE ratio of 22.46 and a beta of 0.99. Stewart Information Services Corporation has a 12-month low of $56.39 and a 12-month high of $78.44. The stock’s fifty day simple moving average is $62.65 and its two-hundred day simple moving average is $65.54.

Stewart Information Services (NYSE:STC) last released its quarterly earnings results 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). The firm had revenue of $608.90 million during the quarter, compared to the consensus estimate of $595.50 million. Stewart Information Services had a net margin of 2.88% and a return on equity of 6.92%. The firm’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.17 earnings per share. As a group, analysts expect that Stewart Information Services Corporation will post 6.29 EPS 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 given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend was Monday, June 16th. Stewart Information Services’s dividend payout ratio 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.