State of Alaska Department of Revenue Has $1.08 Million Stake in Stewart Information Services Corporation $STC

State of Alaska Department of Revenue raised its position in shares of Stewart Information Services Corporation (NYSE:STC) by 8.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,622 shares of the insurance provider’s stock after acquiring an additional 1,238 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of Stewart Information Services worth $1,081,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its stake in Stewart Information Services by 1.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,682,009 shares of the insurance provider’s stock valued at $120,600,000 after purchasing an additional 30,160 shares during the period. Millennium Management LLC lifted its holdings in shares of Stewart Information Services by 5.0% during the first quarter. Millennium Management LLC now owns 996,558 shares of the insurance provider’s stock worth $71,104,000 after buying an additional 47,384 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Stewart Information Services by 18.6% in the first quarter. Victory Capital Management Inc. now owns 990,168 shares of the insurance provider’s stock worth $70,648,000 after acquiring an additional 155,210 shares during the last quarter. Cooke & Bieler LP grew its stake in shares of Stewart Information Services by 5.8% in the first quarter. Cooke & Bieler LP now owns 449,672 shares of the insurance provider’s stock worth $32,084,000 after acquiring an additional 24,840 shares during the last quarter. Finally, Northern Trust Corp increased its position in Stewart Information Services by 0.4% during the first quarter. Northern Trust Corp now owns 332,891 shares of the insurance provider’s stock worth $23,752,000 after acquiring an additional 1,460 shares during the period. 96.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on STC shares. Keefe, Bruyette & Woods increased their price target on shares of Stewart Information Services from $72.00 to $73.00 and gave the company a “market perform” rating in a report on Monday, July 28th. Wall Street Zen upgraded shares of Stewart Information Services from a “hold” rating to a “buy” rating in a research note on Saturday, August 16th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Stewart Information Services in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $77.50.

Insider Transactions at Stewart Information Services

In other news, CFO David C. Hisey sold 2,224 shares of the stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $64.39, for a total transaction of $143,203.36. Following the sale, the chief financial officer directly owned 58,359 shares of the company’s stock, valued at $3,757,736.01. This represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brad Rable sold 5,694 shares of the business’s stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $65.32, for a total transaction of $371,932.08. Following the completion of the transaction, the insider owned 23,872 shares of the company’s stock, valued at $1,559,319.04. This trade represents a 19.26% decrease in their position. The disclosure for this sale can be found here. 2.78% of the stock is owned by corporate insiders.

Stewart Information Services Stock Performance

Shares of NYSE:STC opened at $72.50 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.91 and a quick ratio of 1.91. The business’s fifty day moving average price is $71.63 and its two-hundred day moving average price is $66.91. Stewart Information Services Corporation has a fifty-two week low of $56.39 and a fifty-two week high of $78.44. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 23.31 and a beta of 0.96.

Stewart Information Services (NYSE:STC) last issued its earnings results on Wednesday, July 23rd. The insurance provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.30 by $0.04. The company had revenue of $721.50 million for the quarter, compared to the consensus estimate of $671.90 million. Stewart Information Services had a net margin of 3.29% and a return on equity of 7.71%. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. As a group, analysts predict that Stewart Information Services Corporation will post 6.29 EPS for the current fiscal year.

Stewart Information Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $0.525 per share. The ex-dividend date was Tuesday, September 16th. This is a boost from Stewart Information Services’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 2.9%. Stewart Information Services’s dividend payout ratio (DPR) is currently 67.52%.

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.