Corebridge Financial Inc. Lowers Stock Holdings in Stewart Information Services Corporation $STC

Corebridge Financial Inc. lowered its stake in Stewart Information Services Corporation (NYSE:STC) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,153 shares of the insurance provider’s stock after selling 277 shares during the period. Corebridge Financial Inc. owned approximately 0.05% of Stewart Information Services worth $1,010,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of STC. State of Wyoming boosted its position in shares of Stewart Information Services by 84.0% in the 4th quarter. State of Wyoming now owns 1,461 shares of the insurance provider’s stock worth $99,000 after purchasing an additional 667 shares in the last quarter. Vident Advisory LLC boosted its stake in shares of Stewart Information Services by 7.5% in the fourth quarter. Vident Advisory LLC now owns 2,982 shares of the insurance provider’s stock worth $201,000 after acquiring an additional 208 shares during the period. Montchanin Asset Management LLC bought a new position in shares of Stewart Information Services in the fourth quarter worth about $206,000. First Citizens Bank & Trust Co. bought a new stake in Stewart Information Services in the 1st quarter worth approximately $218,000. Finally, Kestra Private Wealth Services LLC bought a new stake in Stewart Information Services in the 1st quarter worth approximately $227,000. Institutional investors own 96.90% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Stewart Information Services from $72.00 to $73.00 and gave the stock a “market perform” rating in a report on Monday, July 28th. Wall Street Zen upgraded Stewart Information Services from a “hold” rating to a “buy” rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.50.

Stewart Information Services Price Performance

Shares of STC opened at $73.93 on Friday. The company has a 50 day moving average of $66.81 and a two-hundred day moving average of $66.38. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.31. Stewart Information Services Corporation has a twelve month low of $56.39 and a twelve month high of $78.44. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 23.77 and a beta of 0.94.

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

Stewart Information Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.525 dividend. This is a boost from Stewart Information Services’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, September 16th. Stewart Information Services’s payout ratio is currently 64.31%.

Insiders Place Their Bets

In other Stewart Information Services news, insider Brad Rable sold 5,694 shares of the firm’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $65.32, for a total transaction of $371,932.08. Following the transaction, the insider owned 23,872 shares of the company’s stock, valued at approximately $1,559,319.04. This trade represents a 19.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David C. Hisey sold 2,224 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $64.39, for a total transaction of $143,203.36. Following the sale, the chief financial officer owned 58,359 shares of the company’s stock, valued at $3,757,736.01. This trade represents a 3.67% decrease in their position. The disclosure for this sale can be found here. 1.50% of the stock is owned by corporate 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.