Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in Stewart Information Services Co. (NYSE:STC)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Stewart Information Services Co. (NYSE:STC) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,930 shares of the insurance provider’s stock after purchasing an additional 1,202 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.06% of Stewart Information Services worth $936,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB purchased a new position in Stewart Information Services during the third quarter worth about $206,000. Envestnet Portfolio Solutions Inc. purchased a new position in Stewart Information Services during the third quarter worth about $227,000. SG Americas Securities LLC purchased a new position in Stewart Information Services during the third quarter worth about $236,000. Nisa Investment Advisors LLC raised its holdings in Stewart Information Services by 215.1% during the third quarter. Nisa Investment Advisors LLC now owns 6,665 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 4,550 shares in the last quarter. Finally, Natixis Advisors L.P. raised its holdings in Stewart Information Services by 5.9% during the third quarter. Natixis Advisors L.P. now owns 10,766 shares of the insurance provider’s stock worth $472,000 after purchasing an additional 601 shares in the last quarter. 96.90% of the stock is owned by hedge funds and other institutional investors.

Stewart Information Services Stock Performance

Shares of STC stock opened at $63.57 on Wednesday. The stock has a fifty day moving average price of $61.75 and a 200 day moving average price of $55.40. The stock has a market cap of $1.75 billion, a PE ratio of 57.27 and a beta of 1.16. Stewart Information Services Co. has a 1 year low of $36.81 and a 1 year high of $65.35. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.11 and a current ratio of 2.11.

Stewart Information Services (NYSE:STC) last issued its quarterly earnings data on Thursday, February 8th. The insurance provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.14. The firm had revenue of $582.17 million during the quarter, compared to analysts’ expectations of $566.46 million. Stewart Information Services had a return on equity of 3.85% and a net margin of 1.35%. Stewart Information Services’s revenue was down 11.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. Sell-side analysts forecast that Stewart Information Services Co. will post 4.5 earnings per share for the current fiscal year.

Stewart Information Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 2.99%. The ex-dividend date was Thursday, March 14th. Stewart Information Services’s payout ratio is 171.17%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on STC shares. Stephens increased their price target on shares of Stewart Information Services from $76.00 to $79.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Keefe, Bruyette & Woods increased their target price on shares of Stewart Information Services from $57.00 to $59.00 and gave the company a “market perform” rating in a report on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.33.

Insiders Place Their Bets

In other Stewart Information Services news, Director Matthew Morris sold 12,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $63.11, for a total transaction of $757,320.00. Following the completion of the transaction, the director now owns 76,867 shares of the company’s stock, valued at $4,851,076.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.99% of the stock is currently owned by company insiders.

Stewart Information Services 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.