Envestnet Asset Management Inc. Cuts Holdings in Stewart Information Services Corporation (NYSE:STC)

Envestnet Asset Management Inc. reduced its position in Stewart Information Services Corporation (NYSE:STC) by 1.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 108,505 shares of the insurance provider’s stock after selling 1,379 shares during the period. Envestnet Asset Management Inc. owned approximately 0.39% of Stewart Information Services worth $7,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Stewart Information Services in the fourth quarter worth about $4,034,000. Swiss National Bank raised its stake in Stewart Information Services by 0.9% in the fourth quarter. Swiss National Bank now owns 54,400 shares of the insurance provider’s stock worth $3,671,000 after buying an additional 500 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Stewart Information Services during the 4th quarter valued at about $943,000. American Century Companies Inc. increased its position in Stewart Information Services by 8.7% during the 4th quarter. American Century Companies Inc. now owns 18,754 shares of the insurance provider’s stock valued at $1,266,000 after buying an additional 1,497 shares in the last quarter. Finally, Sei Investments Co. increased its position in Stewart Information Services by 2.3% during the 4th quarter. Sei Investments Co. now owns 47,771 shares of the insurance provider’s stock valued at $3,224,000 after buying an additional 1,087 shares in the last quarter. 96.90% of the stock is currently owned by hedge funds and other institutional investors.

Stewart Information Services Stock Up 1.6%

STC stock opened at $59.26 on Wednesday. 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 firm’s 50-day moving average is $62.41 and its two-hundred day moving average is $65.42. Stewart Information Services Corporation has a 52 week low of $56.39 and a 52 week high of $78.44. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 22.79 and a beta of 0.99.

Stewart Information Services (NYSE:STC) last announced its quarterly earnings results on Wednesday, April 23rd. The insurance provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.09). The business had revenue of $608.90 million for the quarter, compared to analyst estimates of $595.50 million. Stewart Information Services had a return on equity of 6.92% and a net margin of 2.88%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 EPS. On average, analysts forecast 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Monday, June 16th. Stewart Information Services’s dividend payout ratio is presently 76.92%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on STC. Keefe, Bruyette & Woods lowered their target price on shares of 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. Wall Street Zen downgraded shares of Stewart Information Services from a “buy” rating to a “hold” rating in a report on Thursday, April 24th.

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.