Stewart Information Services Corporation (STC) Position Cut by First Trust Advisors LP

First Trust Advisors LP reduced its holdings in shares of Stewart Information Services Corporation (NYSE:STC) by 12.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,752 shares of the insurance provider’s stock after selling 3,801 shares during the period. First Trust Advisors LP owned approximately 0.11% of Stewart Information Services Corporation worth $1,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Morgan Stanley increased its holdings in shares of Stewart Information Services Corporation by 5.1% in the first quarter. Morgan Stanley now owns 71,509 shares of the insurance provider’s stock valued at $3,159,000 after purchasing an additional 3,453 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Stewart Information Services Corporation in the second quarter valued at about $246,000. Comerica Bank increased its holdings in shares of Stewart Information Services Corporation by 3.9% in the first quarter. Comerica Bank now owns 25,853 shares of the insurance provider’s stock valued at $1,233,000 after purchasing an additional 982 shares during the period. Clinton Group Inc. acquired a new position in shares of Stewart Information Services Corporation in the first quarter valued at about $285,000. Finally, Great West Life Assurance Co. Can increased its holdings in shares of Stewart Information Services Corporation by 6.9% in the second quarter. Great West Life Assurance Co. Can now owns 34,771 shares of the insurance provider’s stock valued at $1,578,000 after purchasing an additional 2,234 shares during the period. 90.50% of the stock is currently owned by institutional investors.

In related news, insider Nicholas Galea sold 141,000 shares of the business’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $0.48, for a total value of $67,680.00. Insiders purchased a total of 42,000 shares of company stock worth $33,020 in the last 90 days. 2.20% of the stock is currently owned by insiders.

Shares of Stewart Information Services Corporation (STC) opened at 36.33 on Tuesday. Stewart Information Services Corporation has a 12-month low of $34.48 and a 12-month high of $48.17. The company’s 50-day moving average price is $37.06 and its 200 day moving average price is $42.63. The firm has a market capitalization of $862.51 million, a price-to-earnings ratio of 13.02 and a beta of 0.76.

Stewart Information Services Corporation (NYSE:STC) last issued its quarterly earnings results on Thursday, July 20th. The insurance provider reported $0.79 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.03 by ($0.24). The company had revenue of $485.50 million during the quarter, compared to analyst estimates of $503.05 million. Stewart Information Services Corporation had a net margin of 3.27% and a return on equity of 9.77%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.49 EPS. On average, equities research analysts forecast that Stewart Information Services Corporation will post $2.43 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.30%. The ex-dividend date is Thursday, September 14th. Stewart Information Services Corporation’s dividend payout ratio (DPR) is presently 43.01%.

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reissued a “sell” rating and issued a $41.00 price objective on shares of Stewart Information Services Corporation in a report on Tuesday, May 30th. BidaskClub lowered Stewart Information Services Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th.

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About Stewart Information Services Corporation

Stewart Information Services Corporation is a global real estate services company. The Company is engaged in offering products and services through its direct operations, network of Stewart Trusted Providers and family of companies. The Company operates through two segments: title insurance and ancillary services and corporate.

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Institutional Ownership by Quarter for Stewart Information Services Corporation (NYSE:STC)

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