Penserra Capital Management LLC Takes $230,000 Position in Stewart Information Services Corporation $STC

Penserra Capital Management LLC acquired a new stake in shares of Stewart Information Services Corporation (NYSE:STC) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 3,542 shares of the insurance provider’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Farther Finance Advisors LLC lifted its stake in Stewart Information Services by 2,735.8% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,503 shares of the insurance provider’s stock worth $98,000 after purchasing an additional 1,450 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of Stewart Information Services by 17.2% in the second quarter. AlphaQuest LLC now owns 3,422 shares of the insurance provider’s stock worth $223,000 after purchasing an additional 501 shares during the period. Jones Financial Companies Lllp raised its position in shares of Stewart Information Services by 44,842.9% in the first quarter. Jones Financial Companies Lllp now owns 3,146 shares of the insurance provider’s stock worth $224,000 after buying an additional 3,139 shares in the last quarter. Kestra Private Wealth Services LLC bought a new stake in Stewart Information Services during the first quarter valued at $227,000. Finally, Nisa Investment Advisors LLC boosted its stake in Stewart Information Services by 13.4% during the first quarter. Nisa Investment Advisors LLC now owns 3,533 shares of the insurance provider’s stock valued at $252,000 after buying an additional 418 shares during the period. Institutional investors own 96.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wall Street Zen upgraded Stewart Information Services from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Stewart Information Services in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Stewart Information Services from $72.00 to $73.00 and gave the stock a “market perform” rating in a research report on Monday, July 28th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.50.

Stewart Information Services Stock Down 1.2%

Shares of NYSE STC opened at $72.39 on Thursday. The stock has a market capitalization of $2.03 billion, a P/E ratio of 20.16 and a beta of 0.95. Stewart Information Services Corporation has a one year low of $56.39 and a one year high of $78.44. The firm’s 50 day simple moving average is $71.94 and its two-hundred day simple moving average is $67.43. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.77 and a quick ratio of 1.91.

Stewart Information Services (NYSE:STC) last announced its quarterly earnings data on Wednesday, October 22nd. The insurance provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.22. Stewart Information Services had a net margin of 3.65% and a return on equity of 8.57%. The company had revenue of $791.30 million during the quarter, compared to analysts’ expectations of $737.30 million. During the same quarter in the prior year, the company earned $1.07 EPS. The firm’s revenue was up 19.3% on a year-over-year basis. As a group, analysts expect that Stewart Information Services Corporation will post 6.29 EPS for the current fiscal year.

Stewart Information Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a $0.525 dividend. This is an increase from Stewart Information Services’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $2.10 dividend on an annualized basis and a yield of 2.9%. Stewart Information Services’s payout ratio is presently 58.50%.

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.