Wellington Management Group LLP Cuts Stock Holdings in Stewart Information Services Co. (NYSE:STC)

Wellington Management Group LLP decreased its holdings in shares of Stewart Information Services Co. (NYSE:STC) by 19.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 49,630 shares of the insurance provider’s stock after selling 12,276 shares during the period. Wellington Management Group LLP owned 0.18% of Stewart Information Services worth $3,709,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in STC. Millennium Management LLC increased its position in Stewart Information Services by 906.9% during the 2nd quarter. Millennium Management LLC now owns 656,143 shares of the insurance provider’s stock valued at $40,733,000 after purchasing an additional 590,977 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Stewart Information Services by 149.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 342,090 shares of the insurance provider’s stock valued at $25,568,000 after buying an additional 204,688 shares in the last quarter. State Street Corp boosted its holdings in shares of Stewart Information Services by 16.8% in the 3rd quarter. State Street Corp now owns 1,247,762 shares of the insurance provider’s stock valued at $93,258,000 after buying an additional 179,364 shares in the last quarter. Emerald Advisers LLC bought a new stake in shares of Stewart Information Services in the 3rd quarter valued at about $5,330,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Stewart Information Services by 7.2% in the 3rd quarter. Victory Capital Management Inc. now owns 985,673 shares of the insurance provider’s stock valued at $73,669,000 after buying an additional 65,965 shares in the last quarter. Hedge funds and other institutional investors own 96.90% of the company’s stock.

Stewart Information Services Stock Down 2.0 %

STC stock opened at $72.94 on Wednesday. The firm has a 50 day moving average of $71.96 and a 200 day moving average of $69.84. The stock has a market capitalization of $2.02 billion, a PE ratio of 34.41 and a beta of 1.21. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.32. Stewart Information Services Co. has a 52 week low of $55.47 and a 52 week high of $78.44.

Stewart Information Services (NYSE:STC) last released its earnings results on Wednesday, October 23rd. The insurance provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.21. The company had revenue of $667.94 million during the quarter, compared to analysts’ expectations of $638.40 million. Stewart Information Services had a net margin of 2.47% and a return on equity of 5.77%. Stewart Information Services’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the business earned $0.86 EPS. Sell-side analysts forecast that Stewart Information Services Co. will post 3.32 earnings per share for the current year.

Stewart Information Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Monday, December 16th. Stewart Information Services’s dividend payout ratio (DPR) is presently 94.34%.

Insider Buying and Selling

In other Stewart Information Services news, Director Matthew Morris sold 12,899 shares of Stewart Information Services stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $74.12, for a total transaction of $956,073.88. Following the completion of the sale, the director now directly owns 65,330 shares in the company, valued at approximately $4,842,259.60. The trade was a 16.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

STC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Stewart Information Services from $79.00 to $84.00 and gave the company a “market perform” rating in a report on Tuesday, December 10th. StockNews.com upgraded shares of Stewart Information Services from a “hold” rating to a “buy” rating in a report on Wednesday, December 11th.

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.